The loan has a maturity of 10 years, with a 24 months grace period. It is handled through Almi Företagspartner Uppsala AB and is covered by a guarantee in the framework of the European Instrument InnovFin - EU innovation - aimed at small and medium-sized enterprises. InnovFin is funded by the European Union through Horizon2020.
The loan will be used to partially finance LightLab’s SEK 9 million share of the cooperation project with Nanyang Technological University (NTU) in Singapore.
"We regard the loan granted from Almi as a further confirmation of the potential of our joint project with NTU. We look with continued confidence on the development of the new UV light concept. The new concept is expected to enable both improved performance and efficiency for UV disinfection, as well as ultra-low-cost manufacturing techniques" says LightLab’s CEO Johan Tingsborg.