The Spanish Official Credit Institute (ICO) has granted a €7 million working capital line, with a 50% guarantee issued by Cesce on behalf of the Spanish State, to finance four international projects for the assembly and testing of e-compressors for electric vehicles (EVs) developed by Airtificial.
These highly automated assembly and testing lines, designed with precision engineering, will be executed by Airtificial Intelligent Robots in Barcelona and delivered as turnkey solutions to Tier-1 automotive manufacturers in both America (United States and Mexico) and Europe (Germany and Poland). The lines will become part of the manufacturing chain for leading global car brands such as Ford and Rivian.
The backing from ICO and Cesce will enable Airtificial to accelerate the execution of its Group strategy, focused on profitability and operational efficiency through the internationalization of its services and entry into expanding global markets. This financing enhances the Company’s medium- and long-term growth capacity, following a record-breaking 2024 in which Airtificial closed the year with the strongest results in its history, supported by a record order book of €206 million—the largest volume of projects in its more than 50-year track record.
EBN as Structuring Entity and Agent Bank, Cesce as Insuring Entity
This strategic financing operation has been structured by EBN Banco, which is acting as the Structuring Entity and Agent Bank. EBN has designed the credit structure and the subsequent factoring of the receivables arising from the projects with global Tier-1 automotive companies. It is also responsible for coordinating communication between parties, managing loan documentation, and overseeing fund flows.
Through this arrangement, Airtificial will strengthen its liquidity and optimize treasury management, ensuring that the financing serves its purpose of supporting the operating cycle without affecting the company’s long-term financial structure.
For its part, ICO is providing a strategic financing mechanism that will allow the Company to streamline its commitments to the supply chain and consolidate strategic relationships within its international projects.
Cesce is acting as the insurance entity, providing a 50% coverage through its Working Capital Credit Policy. This type of financial institution coverage (in this case to ICO) facilitates access to financing for Spanish exporters during the execution phase of their international contracts.
Guillermo Fernández de Peñaranda, CEO of Airtificial Group, stated: “The support from ICO, together with the key roles played by EBN and Cesce, is a recognition of the strength of Airtificial’s business model and our ability to execute high-value projects in major international markets. This financing operation allows us to reinforce our liquidity and accelerate the execution of our sustainable growth plan, focused on profitability, operational efficiency, and global expansion.”
About Airtificial
Airtificial provides global and innovative design and manufacturing solutions for the automotive, civil and defense aerospace, infrastructure, and other industrial sectors. The company integrates advanced technologies such as robotics and artificial intelligence, combined with human interaction, to contribute to more sustainable development. Listed on the Spanish Continuous Market, Airtificial has an operational presence in 18 countries across the main markets of Europe, the Americas, and Asia. It supports the digital transformation, automation, and process optimization of its industrial clients through sustainable and competitive growth.
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