EIB Grants €30.5 Million Loan to DOMINION for Technological Advancements and Innovation Across Europe

EIB Grants €30.5 Million Loan to DOMINION for Technological Advancements and Innovation Across Europe

(IN BRIEF) The European Investment Bank (EIB) has recently entered into a €30.5 million loan agreement with DOMINION, a multi-technology services and integrated projects company, to fund the development of cutting-edge technology aimed at designing innovative engineering and computing solutions. This project will be rolled out in Spain, Germany, and other European Union countries. DOMINION’s strategy will center on enhancing customized services and projects to increase efficiency and sustainability, benefiting industries such as energy, technology, telecommunications, and more. The investment aligns with EU policies, contributing to digitalization and innovation objectives. It will primarily target Spanish regions with a focus on social and economic cohesion and aims to bolster the adoption of advanced digital technologies, ultimately enhancing productivity and profitability for DOMINION.

(PRESS RELEASE) LUXEMBOURG, 10-Nov-2023 — /EuropaWire/ — The European Investment Bank (EIB) has signed a €30.5 million loan with DOMINION to finance the development of cutting-edge technology for the design of new engineering and computing solutions to be rolled out in Spain, Germany and, to a lesser extent, other EU countries. The financing will promote the development and innovation activities of the multi-technology services and integrated projects company.

DOMINION’s development and innovation strategy will focus on boosting and expanding tailor-made services and projects to improve efficiency and sustainability for its customers, which operate in highly competitive sectors including energy, industry, technology, and telecommunications, among others. The project is set to be implemented by the end of 2027 and will make the group more resilient by speeding up the adoption of advanced digital technologies to boost its productivity and profitability.

The investment will take place primarily in the Basque Country, Catalonia, Community of Madrid, Andalusia and Castilla y León Spanish autonomous communities, as well as, to a lesser extent, in the company’s facilities in Germany and other EU countries. The project contributes to the EIB’s cross-cutting goal of fostering social and economic cohesion, as it also covers regions with per capita income below 75% of the EU average and will have a positive impact on employment.

Financing digital technologies is in line with EU policy objectives such as the Digital Europe Programme, which aims to bring these technologies closer to businesses, individuals and public authorities, and Europe’s Digital Decade 2030. It therefore contributes to the EIB’s innovation, digitalisation and human capital public policy priority.

“Investing in cutting-edge technology is key to fostering competitiveness, so we are delighted to support an agreement that will have an impact on innovation capacity, digitalisation and jobs in Spain, Germany and other EU countries,” said EIB Director of Operations for Spain and Portugal Gilles Badot at the signature ceremony in Bilbao. “DOMINION has an outstanding track record in its field and an unwavering determination to promote research, development and innovation, which is why this project demonstrates our commitment to implementing technologies helping to secure the European Union’s strategic autonomy.”

“For us, it is a recognition of our innovative nature and sectoral knowledge enabling us to position ourselves as a service and project-focused company that facilitates transitions to more efficient and sustainable business models,” added DOMINION CEO Mikel Barandiaran.

Background information

EIB

The European Investment Bank Group (EIB Group), consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), reported total financing signatures of over €9.9 billion for Spain in 2022, including record financing for climate action and environmental sustainability projects.

DOMINION

DOMINION provides services and end-to-end projects in the industry, technology and telecoms, energy and infrastructure fields. With its sectoral knowledge and technological expertise, it helps its customers in their transition to more efficient and environmentally friendly business models.

Founded in 1999 in Bilbao, it has a unique culture and management model based on four key tenets: digitalisation, diversification, decentralisation and financial discipline, as well as a fifth: sustainable development. Its 12 500 employees in over 35 countries serve more than 1 000 customers. It has an annual turnover of over €1.1 billion and has been listed on the Spanish stock exchange since April 2016.

Media Contact:

Maite Cordero
m.corderomunoz@eib.org
+34 606 66 82 62

Jose Vicente Alzola
j.alzola@ext.eib.org
+352 4379 – 72859

Press Office

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+352 4379 – 21000

SOURCE: European Investment Bank