Prodrive procures European endowment to impulse innovation

Nieke Roos
Leestijd: 1 minuut

The European Investment Bank (EIB) is providing a 50-million-euro loan to Prodrive Technologies. The Son-based tech company, active in the design and manufacturing of electronics, software and mechanics, will use the financing to support an ambitious R&D and innovation (RDI) program for its broad range of products, systems and solutions in different sectors, as well as for the expansion of related manufacturing capacities to facilitate growth. The EIB loan is provided under the European Fund for Strategic Investments (EFSI), a key element of the Investment Plan for Europe, also known as the Juncker Plan.

Prodrive’s product portfolio includes embedded computing, power conversion, automation and control systems, vision and image processing systems and environmental sensing. The main markets that will benefit from its EU-supported RDI activities are applications in the semiconductor, automotive, energy, infrastructure, industrial and medical sectors. “The loan of the EIB is a major milestone. We recognize the EIB’s commitment as a solid confirmation of the significance of our activities on a European level. This step will further boost the investments in our technology programs and manufacturing roadmaps and contribute to our ambitious growth,” says Prodrive CEO Pieter Janssen.

“The loan to Prodrive represents an important contribution to supporting the high-tech, midcap market in the Netherlands and its underlying RDI foundations,” comments EIB vice president Lilyana Pavlova. “We’re supporting the company during this phase in its growth and development by providing a strong component of a stable and reliable funding structure.”

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