According to the Bank’s website, SimScale is a Germany-based start-up developing a cloud-based engineering simulation platform for engineers, designers and architects. The EIB financing will finance the company's research and development activities to enhance the simulation platform and support its business expansion.

The aim is to support the development of additional features of the promoter's simulation software suite, its deployment in the cloud infrastructure, the strengthening of customer service and sales functions as well as the overall expansion of the business.

The investments targeted by the financing will address market failures related to: i) Information asymmetries due to higher risk levels associated to early stage firms, with mainly intangible assets or insufficient collateral, and focusing on higher risk activities; ii) suboptimal investment which require the development of innovative financial solutions and iii) an incomplete market in terms of competition, with a few large-scale players dominating the market.

The project will further support the promoter's software development activities to enhance the simulation software offering, broaden functionalities, expand the promoter's R&D capabilities and help the company to expand its business. The project is expected to create positive knowledge externalities, advanced digital skills and contribute to the development of deep-tech products in the EU.

Based on the environmental, climate and social information and based on the review of the likely significant environmental, climate and social risks and impacts and the mitigation measures and management systems in place, the Project is deemed to have low residual environmental, climate and social risks and impacts.

SimScale is a computer-aided engineering (CAE) software product based on cloud computing. SimScale was developed by SimScale GmbH and allows computational fluid dynamics, finite element analysis and thermal simulations. The backend of the platform uses open source and proprietary simulation codes.

No contacts available at the time of disclosure.

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