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European Union

European Investment Bank Invests €15 Million in AI-Powered Power Suits for Logistics and Care Workers

Strategic Insights

— 1 min read

The European Investment Bank (EIB) has invested €15 million in German Bionic, a leading provider of active, smart exoskeleton systems, to further develop its AI-based human-machine systems. The flagship European project aims to create safe and sustainable working environments for logistics and care workers by providing mechanical support for lifting and carrying tasks. The EIB loan is backed by the European Union's new InvestEU programme, which provides an EU budgetary guarantee to implementing partners to increase their risk-taking capacity.

Key Takeaways:

  • The EIB investment of €15 million will be used for German Bionic's research and development of its AI-based power suits, which provide up to 30 kg of lifting support and are suitable for outdoor use.
  • The power suits use self-learning artificial intelligence to support lifting movements and prevent poor posture, protecting employees' health and markedly reducing the risk of accidents.
  • The agreement is supported by InvestEU, which provides an EU budgetary guarantee of €26.2 billion to increase the risk-bearing capacity of financial partners and mobilise at least €372 billion in additional investment.
  • The project will help to consolidate Europe's leading position in the industrial exoskeleton market in terms of technological competitiveness and commercial opportunities.
  • The EIB's key priorities are climate and the environment, development, innovation and skills, small and medium-sized enterprises, infrastructure and cohesion, and it works closely with other EU institutions to foster European integration.
  • German Bionic's smart power suits have received several accolades, including Best of Innovation at the Consumer Electronics Show 2023, Fast Company's Innovation by Design Award, and the German Founders' Award.

Statistics:

  • €15 million: EIB investment in German Bionic for the development of its AI-based power suits
  • 30 kg: The amount of lifting support provided by German Bionic's power suits
  • €372 billion: The amount of additional investment mobilised by the InvestEU programme
  • €26.2 billion: The EU budgetary guarantee provided by InvestEU to increase the risk-bearing capacity of financial partners
  • 140: The number of countries in which the EIB works to foster European integration and promote EU policy objectives

Sources:

  • European Investment Bank: "EIB invests in German Bionic, a leading provider of exoskeleton systems"
  • European Commission: "InvestEU: A new EU financial programme for sustainable growth and jobs"
  • German Bionic: "Cray X - The World's First Connected Exoskeleton for the Workplace"

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