EIB provides €250 million to support R&D and industrial investments by Nexans

Core Viewpoint - The European Investment Bank (EIB) has provided €250 million in financing to Nexans to support its research, development, and industrial investments from 2024 to 2029, aligning with EU sustainability and innovation goals [2][4][6]. Group 1: Financing Details - The financing consists of two contracts: a €190 million loan guaranteed under the InvestEU programme and a €60 million loan [2][6]. - The funding will enhance Nexans' research and development programs, cable production, and copper recycling capacities, promoting the circular economy [6][7]. Group 2: Strategic Importance - Nexans plays a crucial role in the energy transition, with its power cables essential for electrification and achieving EU decarbonisation targets [3][4]. - The financing supports the REPowerEU programme, which aims to strengthen the EU's energy autonomy [6]. Group 3: Future Projects - Nexans plans to construct a new factory in Lens by 2026, increasing copper wire production by over 50% and recycling up to 80,000 tonnes of copper annually [7]. - Additional investments will strengthen sites in Charleroi, Erembodegem, and Calais to support offshore wind and submarine interconnections [7]. - Capacity expansion at the Bourg-en-Bresse site will address growing electrification demand in France and Western Europe [7]. Group 4: Company Overview - Nexans is a global leader in sustainable electrification, providing advanced cable solutions and services for a low-carbon future [5][9]. - The company operates in 41 countries, employs 28,500 people, and generated €7.1 billion in standard sales in 2024 [9].