EIB, STMicroelectronics announce €1 billion agreement
First €500 million tranche signed to support acceleration of R&D and high-volume chip manufacturing in Italy and France.
The European Investment Bank (EIB) and STMicroelectronics (ST) have signed a EUR 500 million financing agreement to boost Europe’s competitiveness and strategic autonomy.
This represents the first tranche of a broader EUR 1 billion credit line recently approved by the EIB in favour of STMicroelectronics, a semiconductor manufacturer with a strong footprint in Europe including Italy, France and Malta and serving the automotive, industrial, personal electronics and communication infrastructure markets, STMicroelectronics said in a press release.
Since 1994, the Bank has supported nine projects with ST, resulting in approximately EUR 4.2 billion of financing. This new operation will help support ST’s investment programme in innovative semiconductor technologies and devices in Italy and France, where the company operates both research and development and high-volume manufacturing.
About 60% of the agreement is focused on high-volume manufacturing capabilities, including the key sites of Catania, Agrate and Crolles, while the remaining 40% is focused on R&D, the press release said.
“Europe’s ability to lead in semiconductor innovation is vital for our competitiveness, resilience and climate goals,” said Gelsomina Vigliotti, EIB Vice-President. “This agreement reflects the EIB’s commitment to supporting strategic industries that enable the green and digital transitions and strengthen Europe’s technological sovereignty.”
“ST continues to be committed to strengthening Europe’s semiconductor ecosystem, and this significant loan from EIB aims at bolstering our efforts in R&D for differentiated technologies and high-volume manufacturing across our sites in Italy and France,” said Jean-Marc Chery, President and CEO of STMicroelectronics. “ST’s longstanding collaboration with the EIB underscores our commitment to ensuring European technology leadership in the global semiconductor market.”
“Semiconductors are at the heart of modern economies, powering everything from electric vehicles to digital infrastructure,” said EIB Vice-President Ambroise Fayolle. “By financing ST’s investments in research and advanced manufacturing, we are helping Europe secure critical technologies and create high-skilled jobs for the future.”