Dutch geodata specialist Fugro has secured a €150 million financing facility from the European Investment Bank (EIB) to develop and deploy uncrewed surface vessels (USVs), while extending the maturity of its existing senior debt facilities by two years to December 2031.
The unsecured EIB facility will fund eligible expenditure incurred between 1 January 2025 and 31 December 2031. Individual drawdowns will have maturities of up to 10 years, providing long-term financing for the phased expansion of Fugro’s remote operations capabilities.
The facility ranks equally with the company’s existing senior debt, strengthening its financial flexibility as it progresses its technology development programme.
Fugro extends €500m in existing debt facilities
Alongside the new EIB financing, Fugro has agreed a two-year maturity extension for its existing syndicated senior unsecured facilities, moving the deadline to December 2031.
The facilities comprise a €400 million revolving credit facility and a €100 million term loan. The extension follows the same terms agreed in December 2024.
The additional funding is intended to support Fugro’s investment in uncrewed maritime technology and remote operations, with spending planned in phases and aligned with market developments.
USVs and remote operations form part of technology strategy
Fugro is developing its use of uncrewed surface vessels and remote operations as part of a broader shift towards digitalised maritime survey services. The company expects these technologies to improve operational safety and efficiency while reducing carbon emissions.
EIB vice-president Robert de Groot said the financing would support the deployment of digital maritime technologies used in offshore investments, including wind farms and subsea cable projects.
Fugro chief executive Mark Heine said the facility would give the company greater flexibility to advance its technology roadmap while maintaining a disciplined approach to capital allocation.
The financing provides Fugro with a dedicated source of long-term funding for eligible technology-related expenditure, alongside the extended maturities of its existing bank debt. Source: Fugro