Stark Future Secures €40 Million EIB Loan to Expand Electric Motorcycle Innovation

Stark Future Secures €40 Million EIB Loan to Expand Electric Motorcycle Innovation

(IN BRIEF) Stark Future, a leading electric motorcycle company in Spain, has obtained a €40 million loan from the European Investment Bank (EIB) to boost its research, development, and production of electric motorbikes. Backed by the EU’s InvestEU program, the funding will support the development of new technologies, expansion of manufacturing capacity, and the creation of skilled jobs. This partnership aligns with the EIB’s goal of promoting sustainable mobility and accelerating the green transition in the transportation sector.

(PRESS RELEASE) LUXEMBOURG, 17-Sep-2024 — /EuropaWire/ — Stark Future, a pioneering electric motorcycle company based in Sant Boi de Llobregat, Spain, has secured a €40 million loan from the European Investment Bank (EIB) to expand its research, development, and production capabilities. The funding, supported by the EU’s InvestEU program, will enable Stark Future to scale up its manufacturing operations and introduce advanced technologies for its electric motorcycles, including off-road and on-road models.

The investment is part of the EIB’s broader strategy to foster climate action and technological innovation, aiming to accelerate the green transition in the mobility sector. By increasing its production capacity and deploying cutting-edge technology, Stark Future will contribute to sustainable mobility and the resilience of Europe’s supply chain in electric vehicle technology.

This partnership is expected to generate skilled jobs in the local area and promote economic growth in Spain, particularly around the company’s headquarters. Stark Future’s CEO, Anton Wass, emphasized the importance of this collaboration, noting that the EIB’s backing will help the company push boundaries in sustainability and performance within the motorbike industry.

This move highlights the EIB’s commitment to supporting innovation and competitiveness across Europe while advancing the EU’s climate goals.

Background information

EIB

The ElB is the long-term lending institution of the European Union, owned by the Member States. It finances sound investments that further EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, consisting of the EIB and the European Investment Fund (EIF), reported total financing signatures in Spain of €11.4 billion in 2023, approximately €6.8 billion of which went to climate action and environmental sustainability projects. Globally, the EIB Group signed €88 billion of new financing in 2023.

InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments previously available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Stark Future

Stark Future S.L. is a leading innovator in the electric motorbike industry, dedicated to developing high-performance, sustainable motorbikes. Headquartered in Sant Boi de Llobregat, Barcelona, the company is at the forefront of the shift towards sustainable mobility, combining cutting-edge technology with a commitment to environmental responsibility.

Media Contact:

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

Press Office

press@eib.org
+352 43791

SOURCE: European Investment Bank