Fugro, as a pioneer in the marine survey industry, has secured €150 million financing from the European Investment Bank (EIB) to develop unmanned surface vessel (USV) technology. This financing is intended to support the gradual expansion of Fugro's remote operational capabilities.
Financing Details
The €150 million financing is provided on an unsecured basis and is set to cover eligible costs between January 1, 2025, and December 31, 2031. Drawdowns from this facility will have a maturity of up to ten years. Fugro has stated that this facility ranks alongside the company's existing senior debt and enhances its financial flexibility.
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Technology Development and Future Strategies
Fugro has also successfully obtained a two-year extension for the maturity of its unsecured senior debt facility until December 2031. The raised facilities include a €400 million credit line and a €100 million loan, with the extension made under similar terms agreed upon in December 2024.
Mark Heine, CEO of Fugro, stated: “EIB's support is a strong endorsement of Fugro's leading position in the digitalization and transformation of the marine survey industry. Unmanned surface vessels and remote operations are key components of our long-term strategy that enhance safety, reduce carbon emissions, and improve operational efficiency. This long-term financing facility provides the necessary flexibility to implement these technologies in a regular and phased manner, aligned with market developments.”
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