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Protix secures €37M loan from European Investment Bank
January 25, 2024 By Hatchery International staff
The European Investment Bank (EIB) is loaning Protix, an aquaculture, pet and livestock feed company, up to €37 million for the expansion of its sustainable protein production.
This loan agreement is in line with the InvestEU objective of Sustainable Bioeconomy and Circular Economy. The InvestEU program aims to trigger more than €372 billion in additional investment in the EU from 2021-2027.
Lynn De Proft, Protix’s chief financial officer, said the company is happy about the opportunity for expansion.
“This support reinforces the fact that our industry is not just here to stay but is poised for significant growth,” Proft said. “Following our expansion to the United States and now our ability to do the same in Poland, we are excited to accelerate our mission to bring the food system back in balance with nature. The confidence expressed by the EIB underscores our proven ability to execute, marking another significant stride in our journey as game-changers in the protein industry.”
Teresa Czerwińska, vice president of EIB said: “Supporting innovative solutions is one of the priorities of the European Investment Bank and we are pleased to start collaborating with Protix. This financing is supported by the InvestEU programme and will enable the company to expand its activities and to apply its technologies, which contribute to the sustainable development of solutions within the bioeconomy sector.”
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