#InvestEU: European investments for safer air and sea travel

Luxembourg/Copenhagen- The European Union will support Danish aerospace manufacturer Terma with a EUR 28m loan from the European Investment Bank (EIB). The loan will be the first corporate transaction in Denmark to be guaranteed under the European Fund for Strategic Investments (EFSI), heart of the Investment Plan for Europe, in which the EIB is the European Commission’s strategic partner.

The project entails research, development, and innovation (RDI) investments for the development of high-tech products for civilian space applications, such as components for commercial satellites, radar technology for harbour, coastal, airport and air traffic control, as well as airborne self-protection systems, an example of which is electronic self-protection systems for transportation aircraft providing humanitarian relief and for SAR helicopters providing security for crews and passengers in hostile areas. The activities will be carried out in Denmark. Terma’s RDI activities will lead to more secure air and sea travel as well as improved environmental monitoring from aircraft and satellites.

“The EU Bank is glad to support a leading Danish company in strengthening its innovativeness and also its international competitiveness in an environment with strong global players." said Jan Vapaavuori, EIB Vice-President. “The project is important in bridging the innovation gap that we currently see in Europe vis-à-vis the United States and Asia. Fostering the competitive position of a European promoter investing in RDI for civilian applications also contributes to the targets of the Europe 2020 Strategy for smart, sustainable and inclusive growth.”

Violeta Bulc, European Commissioner for Transport, said: "I am proud that the Investment Plan is helping to finance such an innovative project in Denmark. With the help of this EFSI-backed loan from the EIB, Terma will expand its RDI activities, leading to safer and smoother travel for all of us."

Jens Maaløe, CEO of Terma said: “The financial facility provided by the European Investment Bank is an encouragement to Terma. It helps us to continue and strengthen the development of new products as well as bringing existing products to the next level within the environment, space, and security applications. As an example, we recently introduced new radar based solution - Obstruction Light Control – enabling an increased number of wind turbines in areas where the high intensity obstruction lights required for tall wind turbines can appear very intrusive to their neighbours. The system automatically switches the obstruction light on and off when needed”.

This is the first corporate transaction in Denmark falling under the Juncker Commission’s Investment Plan for Europe, meant to support investments and bring back jobs and growth. The EIB loan is guaranteed by the EU budget, which allows the EIB to take on more innovative and higher-risk projects.

Terma and European Investment Bank Signing Event in Copenhagen

Background Information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2015 alone, the Bank made available nearly EUR 560m in loans for Danish projects in various sectors, including energy, industry and SMEs. Terma is a new client for the EIB and represents the first EIB corporate loan operation in Denmark under EFSI. The project financed by the EIB does not include the company’s defence business unit.

Terma provides advanced security system technologies and surveillance radar solutions for ports, airports, coast guards, first responders, emergency organisations and defence forces in 40 countries worldwide. Terma’s is very active in the European Space Agency programmes and helps to deliver advanced technologies for European research. Its activities are focused towards providing innovative products and solutions to cover the demand for safety, communication and emergency technologies for land, sea, air and aerospace purposes.

The Investment Plan for Europe focuses on strengthening European investments to create jobs and growth. It does so by making smarter use of new and existing financial resources, removing obstacles to investment, providing visibility and technical assistance to investment projects. The Investment Plan is already showing results. The European Investment Bank (EIB) estimates that the projects and agreements approved for financing under the EFSI so far (by 12 October 2016) are expected to mobilise EUR 138.3 billion in total investments across 27 Member States and to support almost 290 000 SMEs. On 14 September 2016 the Commission proposed extending the EFSI by increasing its firepower and duration as well as reinforcing its strengths. Find the latest EFSI figures by sector and by country here. For more info, see the FAQs.

Press contacts

EIB: Tim Smit, +352 691 286423, t.smit@eib.org
Terma: Kasper Rasmussen: +45 2022 6091, kar@terma.com
European Commission: Siobhán Millbright, +32 229 57361, siobhan.millbright@ec.europa.eu