The European Investment Bank (EIB) has signed an agreement with Protix for a loan of up to €37 million. Backed by the InvestEU programme, the financing will support Protix in constructing a new production plant in Poland.
The European Investment Bank (EIB) has committed to supporting Protix in the expansion of its sustainable protein production. The signing of the loan agreement marks a significant milestone, providing Protix, a producer of sustainable protein used for animal feed and pet food, with up to €37 million in additional funds for its international roll-out. This agreement is in line with the InvestEU objective of a Sustainable Bioeconomy and Circular Economy and was made possible with the support of the InvestEU programme, which aims to trigger more than €372 billion in additional investment in the European Union over the period 2021-27.
EIB Vice President Teresa Czerwińska 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.”
GAME-CHANGERS IN THE PROTEIN INDUSTRY
Protix CFO Lynn De Proft said: “We are thrilled about this agreement with the EIB, not only for the opportunities it brings for further expansion but also as a resounding affirmation. This support reinforces the fact that our industry is not just here to stay but is poised for significant growth. 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.”
Protix is the leading company in alternative protein for healthy and sustainable pet food, aquaculture, livestock feed, and organic fertiliser, and has played a key role in the establishment and maturation of the insect-based ingredient industry. Now on an international expansion journey, the company aims to deliver its solutions on a global scale. Protix believes in controlled scaling, and the size-optimised development will be three to four times larger than the existing operational facility. The company is currently investigating different locations in Poland.
The EIB believes that investing in innovation, research and development, and human capital is pivotal for economic development. In 2022, the EU bank’s support for these sectors globally amounted to €17.93 billion. In 2018-2022, the EIB Group’s support for these sectors in Poland reached €4.65 billion. Protix is another good example of what targeted European Commission funds can achieve to support innovative European companies in key EU policy areas, boosting the European Green Transition.
