Fugro Secures $168M EIB Financing for USV Tech Development

Fugro Secures $168M EIB Financing for USV Tech Development

Fugro has secured a $169 million (€150 million) unsecured financing facility from the European Investment Bank (EIB) to support the development and deployment of its uncrewed surface vessel (USV) technology and expansion of remote maritime operations.

The financing will support a phased expansion of Fugro's remote operations capabilities, including the continued development and deployment of USV technology as part of the company's transformation program.

The facility covers eligible costs incurred between January 1, 2025, and December 31, 2031, with individual drawings carrying maturities of up to 10 years.

The EIB financing ranks equally with Fugro's existing senior debt and is intended to provide long-term funding for the company's technology development and deployment plans.

Separately, Fugro has secured a two-year extension of its existing senior unsecured debt facilities, moving their maturity to December 2031.

The facilities comprise a $448 million (€400 million) revolving credit facility and a $112 million (€100 million) term loan, with the extension agreed on the same terms as those secured in December 2024.

“Uncrewed surface vessels and remote operations are an important part of our long-term strategy - enhancing safety, reducing carbon emissions and improving operational efficiency,” said Fugro Chief Executive Officer Mark Heine.

According to EIB, the financing would support the deployment of advanced digital maritime technologies used in offshore activities, including wind farm and subsea cable projects.