Sweden. SEEL Swedish Electric Transport Laboratory AB

Date of agreement:31 Mar 2021
Country:Sweden
Customer:SEEL Swedish Electric Transport Laboratory AB
Amount in SEK:SEK 630 million
Amount in EUR:EUR 63 million
Maturity:16 years
NACE sector / loan type:Supporting and auxiliary transport activities

Financing from NIB Environmental Bond proceeds

NEB-eligible share: 100%

NEB category: Clean transport solutions

Amount disbursed: EUR 14.7 million

Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds

Project

The loan has been provided for financing the construction of the Swedish Electric Transport Laboratory (SEEL), comprising of three sites for vehicle battery development and electromobility testing in Gothenburg, at the Research Institute of Sweden (RISE) facility in Borås, and in Nykvarn.

SEEL will provide a test centre for different components of electrified transport, such as gearboxes and drive shafts for different kinds of vehicles, and for component testing for hybrids and electric cars, as well as charging and smart power management. The project will be part of the EU Forum for Important Projects of Common European Interest (IPCEI).

The facility aims to contribute to the EU’s objective to cut CO2 emissions and accelerate the transformation to a low-carbon economy and to enable faster electrification of the transport sector.

The Swedish Electric Transport Laboratory AB (SEEL) is a special purpose company established by the state-owned RISE institute and by the Chalmers University of Technology in Gothenburg. The company’s industrial partners are Scania, CEVT (China Euro Vehicle Technology, owned by Geely), as well as Volvo Group and Volvo Cars.

Fulfilment of NIB's mandate

Productivity:

The SEEL test site aims to support Sweden in remaining at the forefront of innovations in the transport sector and to secure competitiveness in the automotive industry. The project is based on close collaboration between industry, educational institutes and academia, which is expected to contribute to rapid knowledge development around electric vehicles and electrified transport.

The site’s main users will be the Swedish automotive industry and its industrial partners. The facility may also provide services to the marine and aviation sectors, and is likely to become a key platform supporting the research activities of Sweden’s high-tech cluster.

Environment:

The development of electric vehicles and electrified transport is contributing to Sweden’s strategy of decarbonising the transport sector and becoming fossil-fuel free by 2030. The project is regarded as essential for the development of more sustainable transport for all modes of transportation.

Indicators for impact assessment:

  • Total operational revenue year 2025 in SEK million: 168
  • Revenue share from large corporates: 85%
  • Revenue share from SMEs: 1.4%
  • Revenue shares from academia: 3.5%

Sustainability summary

 

One key environmental issue connected to the project is the soil contamination at the sites where the laboratories are to be constructed, stemming from previous industrial activities. The full scale of contamination and possible need for remediation measures are currently unknown. SEEL is committed to carrying out necessary investigations and measures.

Further, in order to be in compliance with NIB’s Sustainability Policy & Guidelines, SEEL is required to investigate what environmental permits will be necessary to obtain and will need to make sure that all applicable licences are in place.

 

Press release
01.04.2021

NIB finances test centre for electromobility in Sweden

Press release

NIB finansierar testcenter för elektromobilitet i Sverige