Ranshofen, Austria – Aluminium manufacturer AMAG will receive a €75 million loan from the European Investment Bank (EIB) to fund research and development, digitalization efforts and the ecological transformation of its production processes at its Ranshofen location. The financing, confirmed by the EIB, represents the first loan in Austria under the TechEU program, an initiative designed to accelerate industrial innovation across Europe.
The EIB loan will support AMAG investments totaling €168 million planned between 2025 and 2028. According to the EIB, the funding will bolster AMAG’s technological leadership. EIB Vice-President Karl Nehammer described the project as a “flagship” example of strategic investment in sustainable production and digitalization, intended to strengthen European competitiveness and industrial resilience.
AMAG CEO Helmut Kaufmann stated that the financing will enable the implementation of long-term innovation projects, particularly in the area of sustainable materials development. The credit is secured through the InvestEU program.
The investment is focused on central projects within research and innovation, digitalization, and the ecological optimization of production, according to the initial announcement. The EIB’s TechEU program aims to support companies driving innovation in key sectors, with a focus on scaling up technologies and fostering a more resilient industrial base for Europe.