Stark Future secures €40 million from EIB
The European Investment Bank (EIB) has announced that it signed a €40 million ($44 million USD) credit facility with Stark Future to finance the company’s R&D activities in the electric motorcycle sector.
According to a Silicon Canals report, the European Union backs the European Investment Bank’s investment in Stark Future under InvestEU, which seeks to add more than €372 billion of additional investment from public and private sector funds to support EU policy goals.
The announcement comes over a year after the company signed a €20 million loan agreement with Banco Santander to increase its production capabilities and streamline manufacturing processes.
“We are thrilled to partner with the European Investment Bank to accelerate our mission of transforming the motorbike industry with innovative, sustainable technologies,” comments the CEO and founder of Stark Future, Anton Wass. “This investment represents a significant endorsement of our vision and enables us to scale up our R&D capabilities and build even more revolutionary products to a global market. Together with the EIB and the support of the European Union, we are committed to setting new standards for performance, sustainability, and design in the motorbike industry.”
European Union member states own the ElB. It invests in projects that further EU policy goals.
“Supporting European innovators committed to sustainability like Stark Future is part of the EIB’s roadmap to accelerate the green transition and ensure citizens have access to the most advanced means of transport,“ says EIB’s Yu Zhang.
