EIB invests in the sustainability of automotive components
Often the conversation consists of critical aspects of electrification, such as infrastructure, batteries, and renewable energy, but the automotive industry must still continue long-term sustainable initiatives as well.
Although electric vehicles (EVs) use an entirely new powertrain, they still require key components used by their internal combustion vehicle (ICV) counterparts. One system that the European Investment Bank (EIB) is particularly interested in is braking, which is integral to cars, but also has its own sustainability concerns.
The company will invest €10mn to Blubrake, an organisation that develops anti-lock braking systems (ABS) for light electric vehicles (LEVs). The Italian company is a specialist in its field of ABS systems for electric bikes and provides an integral component for safety in the e-mobility sector.
Investment drives safe, sustainable e-mobility
The investment by EIB is one that will allow the company to focus on sustainability as it innovates, providing safer transport by addressing sudden braking challenges, which accounts for around 60% of e-bike accidents.
“ABS makes light electric vehicles safer and easier to use, encouraging their safe adoption by all users and contributing to the development of more sustainable and smarter mobility,” says Fabio Todeschini, Founder and CEO of Blubrake.
“We are very proud of this operation with the EIB, which confirms the importance of safety systems, such as ABS, in the mobility landscape and demonstrates the quality of the Blubrake team and the company’s potential.
According to Blubrake, ABS is a critical system for improving braking performance on both high-adhesion terrain and slippery surfaces. The aim of ABS is to prevent the front wheel of the bike from locking to avoid rear lift, which maintains stability and safety.
“E-bikes represent the future of urban mobility and are a fast, environmentally-friendly, and healthy means of transport. The EIB, as the EU climate bank, has invested more than €5.4bn in Italy over the past five years to promote sustainable mobility and decarbonisation of the transport sector,” says Gelsomina Vigliotti, Vice President of EIB.
“Operations like the one signed with Blubrake today also demonstrate the EIB’s readiness to support Italian startups and the innovation of our financial products, such as venture debt.”
As a stakeholder in the project, from the field of deep tech, e-Novia’s CEO, Vincenzo Russi, says, “Blubrake is among the first enterprises developed within our industrial group: a technology created in 2015, following decades of prior research and with a concrete approach in terms of industrialisation and marketing.
“The results and advancement now being achieved by Blubrake demonstrate the success of our industrial group model, which, using the most innovative technologies as a springboard, transforms intellectual property into enterprises and brings them to the market by generating tangible industrial assets.
“Blubrake’s technology, together with that of the other enterprises in the e-Novia Group, is helping to design the smart city of a future that is already here, in which one of the most basic aspects of everyday life—getting around—can be done in an increasingly personalised and sustainable manner.”
