PRESS RELEASE

BEI/13/241

16December 2013

EIB lends EUR100 millionto Prysmian Group for research and development in Europe

The European Investment Bank (EIB) andPrysmian Group announce the signature of a EUR100 million loan in support of research and development (R&D) programmes in Europeover the period 2013-2016 by the world leader in cables and systems forenergy and telecommunications. The loan represents around 50% of the group’s plannedinvestmentin Europeover that period. The Prysmian Group’s global budget for R&D over the four-year period is around EUR300 million.

In particular, the EIB loan is intended to support future projects in R&D centres in six countries: France, the UK, the Netherlands, Spain, Germany and Italy. The group’s R&D headquarters and centres of excellence for optical fibres and submarinepower transmission cables and systems are located in Italy where a substantial share of the funding will go.ThePrysmian Grouphas 17 R&D centres around the world, locatedin Europe, Northand South America and Asia,with550 researchers and technicians and a portfolio of more than 5600patents.

“Lending for R&D is one of the EU bank’s pillars of activity”, remarked EIB Vice-President Dario Scannapieco. “We are therefore delightedabout this operation withPrysmian, a company that has a long tradition in Italybutalsoa strong European and international outlook. The group makes investment in innovationcentral to staying highly competitive even in economic times when the initial signs of recovery are less visible.”

“Commitment to R&D is key to developing ourstrategy of focusing onhigh value-added and high-tech businesses and products”, explained Prysmian Group’s CEOValerio Battista. “Developing more efficient, environmentally sustainable electricity networks andextending broadband connections are now recognised as priority action areas by all political and economic institutions. Our commitment, now even stronger thanks to the EIB’s backing, is to continue to support our utilities, grid manager and telecoms operator customersvia innovative products, services and technologies.”

The EIB loan will be used in particular for:

-Industrialresearch: research into innovative materials usingnanotechnologies,network monitoring and management systems, optimisation of cable design to reduce electrical losses and optical cables for use in power distribution networks.

-Innovation and experimentation: focusing on using alternative materials for cable design and optimising product projects.

-Development of new products: underground and submarine systems for energy transmission, high power laser cables, cables for the renewable energy sector, high-performance optical fibres, cables for fibre-to-the-home andfibre-to-the-antenna applications, connectivityand development of smart cables and systems for monitoring and management.

Background information

The European Investment Bank (EIB) is the long-term financing institution of the European Union. Its shareholders are the EU Member States. The EIB’s remit is to contribute to the achievement of the EU’s objectives by providing long-term finance for viable projects.

Press contact

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