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Satnews Daily
January 16th, 2019

Avio's Additional Funding from European Investment Bank to Propel Vega C and Ariane 6 

This Italian space propulsion company has signed on for additional financing to develop space propulsion technologies for the new Vega C and Ariane 6 launchers.

Avio S.p.A., Italian company leader in the space propulsion sector, informs that today it has signed the contract for the financing of additional 10 million euro with the European Investment Bank (EIB).

Such financing adds up to the first 40 million euro loan issued by the EIB to Avio S.p.A. in October 2017, with the same economic conditions.

Leveraging the above indicated financing, Avio S.p.A. intends to support the development of space propulsion technologies for the new Vega C and Ariane 6 launchers and expand the industrial capacity of the Colleferro plant in order to meet the production volumes expected for the coming years.

Giulio Ranzo, Avio CEO stated that they are pleased to continue their collaboration with the European Investment Bank. This agreement further reinforces their trust in the achievement of their medium and long term growth targets, ensuring additional financial soundness to our Company.