Norton Rose Fulbright advises EIB on €120 million financing of R&D project for advanced heating technologies in Germany

Global law firm Norton Rose Fulbright has advised the European Investment Bank (EIB) on the pro-rata financing of a research and development project. 

The total investment volume of the project is EUR 262 million, of which the EIB will finance EUR 120 million. The project is aimed at researching and developing modern heating technologies in Germany. The project promoter is the Vaillant Group.

The project will increase the promoter's knowledge and expertise in energy-efficient heating and air conditioning technologies and innovative products. A key area of the project is also digital technologies with a focus on connectivity, cyber security and energy management. The resulting increased use of such technologies to harness renewable energy for heating, ventilation, and air conditioning (HVAC) applications is expected to lead to positive environmental impacts in the form of reduced resource and energy consumption, particularly in residential buildings, and carbon emissions. 

The Norton Rose Fulbright team was led by Hamburg banking partner Veit Sahlfeld. He was supported by senior associate Annemary Ceselj in Frankfurt and associate Marvin Nimoh in Hamburg. Norton Rose Fulbright regularly advises the EIB on financing matters. 

The project was led from the legal side at the EIB by Dr. Björn Bronger, Counsel of the EIB. 

The promoter was advised by the law firm Gleiss Lutz.