Helge Valeur, Chief Financial Officer at Viking (second from the left), attends the first EIB Venture Debt Summit

Viking recognised at first EIB Venture Debt Summit

Viking Heat Engines was among 63 companies to receive the Innovation Award at the EIB Venture Debt Summit held on March 22.

This was the first event of its kind, and was a chance for the world’s largest bank to show its commitment to companies they believe will be the future within life sciences, information and communications technology and clean tech.

EIB Innovation Award 2018 without logo

Combined, the companies received more than EUR 750 million in long-term venture debt financing in 2017, making EIB the largest venture debt investor in Europe. The investments are expected to generate more than 6,500 jobs as well as around EUR 7bn in additional investments in R&D, according the bank.

“We are proud of this unique funding product that met an urgent demand. Venture debt protects ownership, fuels growth, and helps to bring new technologies to the market,” said EIB Vice President Ambroise Fayolle, responsible for innovation, science and digital. “If we want to support the market leaders of tomorrow, we need to take certain risks. We believe in the potential of the companies that we support and are committed to helping them grow by providing tailor-made financing.”

Viking Heat Engines was granted a EUR 30-million loan from the EIB in December. The money will go towards developing and commercialising its two products, the CraftEngine and HeatBooster.

“Out of more than 2000 applicants, only 63 companies have been granted venture debt financing from the EIB so far,” says Helge Valeur, Chief Financial Officer at Viking. “We are in an exclusive club of highly innovative companies.”

The EIB Venture Debt Summit brought together representatives from companies that received venture debt financing, investors and senior officials from the European Commission and the Grand-Duchy of Luxembourg. To learn more about the event, visit:

The EIB Venture Debt Summit

EIB Venture Debt website  

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