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Wednesday, August 8, 2018

Juncker Plan: the largest ever EIB support for agri-business in Ireland

Social Affairs, Research, Agriculture - Fisheries, Local development, Environment, Industry, Innovation, New technologies,-,

News A €40 million financing agreement has been signed between agri-technology company Devenish Nutrition and the EIB, under the Juncker Plan.

Belfast-based agri technology company Devenish Nutrition has secured €118 million in long-term funding to enable its research, development and growth plans. This major refinancing deal is made possible by a pioneering investment of €40 million from the European Investment Bank (EIB).  The EIB investment has been combined with commitments from Devenish’s new commercial finance partners, Ulster Bank and Danske Bank.  

The EIB loan will enable Devenish to develop a purpose-built Global Innovation Centre in Dowth, County Meath, from where it will develop and showcase its ‘One Health – from Soil to Society’ research, development and innovation programme.  It will also fund innovation related capital projects and research into optimised animal nutrition, food innovation, health and sustainability.

Source :  Press room - European Commission


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