Spain: EIB and ULMA Group sign €45 million loan to support innovation and sustainability in the construction value chain

This article is published in association with European Investment Bank.

• The loan will boost investment by ULMA Group in new solutions to cut consumption and recycle materials, upgrade its facilities, and increase its energy efficiency.
• It will also go towards building a new plant to develop advanced technologies for the production of materials.
• The financing agreement supports the EIB’s strategic priorities for innovation and climate action, and its affordable and sustainable housing initiative.

The European Investment Bank (EIB) and ULMA Group have signed a €45 million loan to finance the company’s innovation and sustainability activities. ULMA Group is a Spanish industrial cooperative group based in the Basque Country, with a strong international presence. Among its nine business lines, the manufacture of equipment, innovative materials and other solutions for the construction sector stands out.

The EIB loan will finance the Group’s investments in advanced manufacturing technologies for its construction business line and polymer concrete architectural solutions. It will also help provide the investment needed for the construction of a plant to produce new, sustainable building materials. In addition, the EIB will support ULMA Group as it improves its energy efficiency, furthering its decarbonisation and sustainability strategy. The investments will be made in ULMA operations in the autonomous community of the Basque Country.

Antonio Lorenzo, Head of Corporate Lending in the EIB for Spain and Portugal, said: “With this operation, the EIB is supporting the EU construction industry, contributing to its sustainability, innovation and competitiveness. Supporting this industry is also a key part of the Bank’s commitment to adopting innovative materials and technologies in construction, to increase access to affordable and sustainable housing for all Europeans.”

The financing agreement supports innovation, climate action and environmental sustainability, and social infrastructure in the European Union, which are three of the eight core priorities set out in the EIB Group 2024-2027 Strategic Roadmap. Social infrastructure is being supported by the ULMA deal’s contribution to the EIB’s affordable and sustainable housing initiative.

General Manager of ULMA Group Iñaki Gabilondo said: “This agreement will allow us to pursue innovative sustainability projects in the construction sector, with a clear positive impact for people and the world we live in. It bolsters our strong commitment to creating a more efficient, responsible and forward-looking industrial model. In addition, having the support of a prestigious organisation like the EIB is clear recognition of the value and robustness of this social business endeavour.”

Background information

European Investment Bank

The EIB is the long-term lending institution of the European Union, owned by the Member States. Operating around eight core priorities, it finances investments that pursue EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Agreement, as pledged in its Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects that contribute directly to climate change mitigation and adaptation, and a healthier environment.

In Spain, the EIB Group signed new financing worth €12.3 billion for over 100 high-impact projects in 2024, contributing to the country’s green and digital transition, economic growth, competitiveness and better services for its people.

High-quality, up-to-date photos of the organisation’s headquarters for media use are available here.

ULMA Group

ULMA Group is made up of nine industrial cooperatives that employ 5 747 people and operate across 81 countries. With a total sales volume of €1.15 billion in 2024, ULMA Group is an illustration of success in the Basque cooperative movement.

Since it was founded, it has been able to continuously grow and diversify its business lines and activities, as a social business project that works for the betterment of its surroundings.

The nine companies that make up ULMA are exemplary operators in diverse industrial sectors, providing solutions for construction, packaging machinery, smart warehousing, forging, prefabricated systems for drainage and architecture, rollers for conveyor belts, maintenance services, greenhouse manufacturing and embedded electronics. The latest innovation out of ULMA Group applies artificial intelligence in the healthcare field for early detection of certain diseases.