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The European Investment Bank has signed a EUR 47 million financing agreement with Swedish innovative battery technology company Nilar.

October 05, 2020 Banking and Finance

Vinge has acted as European Investment Bank’s (the EIB) counsel in the financing of the battery technology company Nilar International AB (Nilar).

The financing is supported by the InnovFin Energy Demonstration Projects of the European Commission which is a venture financing instrument designated to support innovative clean energy projects in the fields of e.g. renewable energy and energy storage. The aim of the programme is to bridge the gap from demonstration to commercialisation and thus contribute to the deployment of the next generation of innovative low-carbon energy technologies. A link to EIB’s press release may be found here.

Nilar is the globally leading manufacturer of advanced Hydride® batteries (NiMH) for energy storage. Its solutions offer unique safety benefits and are environment-friendly. With production based on 100 percent renewable energy at the manufacturing plant in Sweden, Nilar is revolutionising energy and power supply technology, and advancing the technique of automated battery production. Read more at Nilar’s website.

Vinge’s team included Johan Larsson, Albert Wållgren, Ludvig Wettergren and Viktor Lennartsson.

 

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