{
  "commitment": {
    "id": "fin-eu-eib-2025-up-catalyst-loan",
    "eventId": "evt-eu-resourceeu-2025",
    "relationships": [],
    "instrument": "loan",
    "valueRole": "commitment",
    "capitalSource": "public_enterprise",
    "amount": {
      "value": "18000000",
      "currency": "EUR",
      "qualifier": "exact",
      "amountAsStated": "€18,000,000 signed 20 December 2024",
      "currencyBasis": "stated"
    },
    "provider": "European Investment Bank (supported by InvestEU)",
    "providerJurisdiction": "eu",
    "providerOrgIds": [
      "org-eu-eib"
    ],
    "legalAuthority": null,
    "programmeId": null,
    "recipient": "UP CATALYST OU",
    "recipientOrgIds": [
      "org-up-catalyst"
    ],
    "project": "UP CATALYST GREEN GRAPHITE (IEU GT2): Gen 4 reactors and R&D",
    "projectId": null,
    "facility": null,
    "locations": [
      {
        "countryCode": "EE",
        "subnational": null,
        "asStated": "Estonia"
      }
    ],
    "stages": [
      "processing",
      "research_development"
    ],
    "stageAllocation": "multi_stage_unallocated",
    "materialIds": [
      "graphite"
    ],
    "materialAttribution": "includes_untracked",
    "untrackedMaterialsAsStated": [
      "multi-walled carbon nanotubes (MWCNTs)"
    ],
    "financialStatusHistory": [
      {
        "status": "contracted",
        "date": "2024-12-20",
        "sourceId": "src-eib-up-catalyst-green-graphite-20240127",
        "note": "EIB project 20240127 lists €18,000,000 signed on 20 December 2024. This establishes signature, not disbursement."
      }
    ],
    "implementationStatusHistory": [],
    "terms": [],
    "outcomes": [],
    "evidence": [
      {
        "sourceId": "src-eib-up-catalyst-green-graphite-20240127",
        "supports": [
          "instrument",
          "value_role",
          "capital_source",
          "amount",
          "provider",
          "recipient",
          "project",
          "location",
          "stages",
          "materials",
          "status"
        ],
        "evidence": "explicit",
        "locator": "Signature(s); Summary sheet; Description; Additionality and Impact",
        "note": "The EIB record gives the exact signed amount/date, promoter UP CATALYST OU, venture-debt form, InvestEU backing and two Gen 4 graphite/MWCNT reactors plus R&D; it shows no drawdown."
      },
      {
        "sourceId": "src-ec-resourceeu-com-945",
        "supports": [
          "provider",
          "recipient",
          "materials"
        ],
        "evidence": "explicit",
        "locator": "Section 2.1, third paragraph",
        "note": "The December 2025 plan retrospectively mentions the EIB financing and the company's CRMA Strategic Project; it does not establish full allocation of the 2024 loan to CO2Graphite."
      }
    ],
    "notes": "€18M of EIB venture debt signed in December 2024 for Up Catalyst's Generation 4 synthetic graphite and MWCNT demonstrator reactors and corporate R&D. The EIB's approximately €46M total project cost is not a second bank commitment. Neither drawdown nor construction of the Gen 4 reactors is established. The 2025 RESourceEU event retrospectively cites this earlier financing. The CRMA-designated CO2Graphite project (prj-ee-co2graphite) shares promoter and material, but reviewed primary sources do not show that the entire EIB financing is allocable to that designation; projectId is intentionally null. Financing also covers untracked MWCNTs and R&D, with no allocation breakdown. The same RESourceEU passage mentions a separate earlier financing: Keliber's EIB loan is independently recorded as fin-eu-eib-2024-keliber-loan, not combined with this UP Catalyst facility."
  },
  "event": {
    "id": "evt-eu-resourceeu-2025",
    "date": "2025-12-03",
    "jurisdiction": "eu",
    "titleEn": "RESourceEU Action Plan: Accelerating our critical raw materials strategy to adapt to a new reality"
  },
  "parents": [],
  "children": [],
  "sources": [
    {
      "id": "src-eib-up-catalyst-green-graphite-20240127",
      "title": "UP CATALYST GREEN GRAPHITE (IEU GT2) — EIB project 20240127 signature record",
      "publisher": "European Investment Bank",
      "url": "https://www.eib.org/en/projects/all/20240127",
      "language": "en",
      "datePublished": "2025-01-02",
      "dateAccessed": "2026-10-08",
      "sourceType": "official",
      "confidence": "primary",
      "notes": "EIB project 20240127 signature table: €18,000,000 on 20 December 2024; promoter UP CATALYST OU; Estonia. Venture debt for two Gen 4 synthetic graphite and MWCNT demonstrators plus R&D; InvestEU backed. The €46M figure is approximate total project cost. No drawdown or equivalence to the CRMA CO2Graphite project is established."
    },
    {
      "id": "src-ec-resourceeu-com-945",
      "title": "RESourceEU Action Plan: Accelerating our critical raw materials strategy to adapt to a new reality (COM(2025) 945 final)",
      "publisher": "European Commission",
      "url": "https://single-market-economy.ec.europa.eu/document/download/01c448d6-dc93-40d7-9afe-4c2af448d00c_en",
      "language": "en",
      "datePublished": "2025-12-03",
      "dateAccessed": "2026-09-23",
      "sourceType": "official",
      "confidence": "primary",
      "notes": "The Communication itself, 19 pages, read in full 2026-09-23. Section 2.1: \"Overall, as part of a Team Europe approach, the EU should mobilise EUR 3 billion of EU funds within the next 12 months in direct support of the CRM value chain\"; names the Just Transition Fund's EUR 18.7 million for Neo Performance's rare earths magnet project in Estonia, EIB loan agreements with the Strategic Projects UpCatalyst and Keliber, and the EBRD's equity of around EUR 3.6 million in the Sarytogan Graphite Strategic Project. Section 3.1: by Q2 2026 the Commission will propose restrictions on exports of permanent-magnet scraps and waste."
    }
  ]
}