TechDogs-"IFFE FUTURA, Listed on the BME GROWTH, Invests 18 Million Euros in Its Omega 3 Plant"

BioTechnology

IFFE FUTURA, Listed on the BME GROWTH, Invests 18 Million Euros in Its Omega 3 Plant

By Business Wire

Business Wire
Overall Rating
  • The financing committed to a consortium of investors, led by INVEREADY, will be provided in the form of capital, hybrid capital and debt, and will serve to recapitalize IFFE FUTURA, allowing the development of the Omega 3 business.
  • The Omega 3 plant, which the Group is building, will start operating in 2023 with a potential production capacity of more than 10,000 tons per year.
  • The NATAC Group enters the capital of IFFE BIOTECH with a 20% stake, as an industrial partner.

OLEIROS, Spain--(BUSINESS WIRE)--IFFE FUTURA (www.iffefutura.es), an industrial and services group based in Galicia (Spain) and listed on BME GROWTH, has signed a financing commitment of 18 million euros with several investors led by INVEREADY. The objective of this financing is to complete the Omega 3 production facilities, based in As Somozas (Galicia), and start marketing Omega 3 B2B from 2023 to functional food companies for nutritional supplements, pharmaceutical products, cosmetics and animal food, among others. The new facilities will have a capacity of more than 10,000 tons per year of Omega 3 of the highest quality and better organoleptic behaviour.

The financing partners have been led by INVEREADY, which invests 9 million euros through hybrid funds, and a group of investors who are experts in investing in BME GROWTH, who invest 4 million euros in their own funds. In addition, IFFE FUTURA has obtained financing from Banco Sabadell, for an amount of up to 4 million euros, and from Xunta de Galicia (through XesGalicia), for an amount of up to 1.25 million euros.

The operation is completed with the entry of NATAC Group as a minority shareholder of IFFE BIOTECH. NATAC Group, a leading company in the natural ingredients sector, will support IFFE BIOTECH in the completion of the Omega 3 production facilities and will be a partner in the distribution of IFFE BIOTECH's final production. NATAC Group will also contribute patents related to Omega 3 to IFFE BIOTECH.

IFFE BIOTECH will have a new board of directors made up of IFFE FUTURA, NATAC Group and Inveready.

David Carro, CEO of the Group, declared: "The support of INVEREADY and its co-investors, as financial leaders of the operation; of XESGALICIA, showing the support of the Galician regional government; and the municipality of As Somozas, added to the financial loan obtained from Banco Sabadell, ensure the success of our plan strategic and sustained growth of the Company for several years. In addition, this project enhances the value of the primary sector industry, such as fishing, and will bring about the generation of employment in the area.”

www.iffefutura.es


Contacts

IFFE FUTURA, SA
DAVID CARRO
+34 881.89.60.49
INVESTORS@IFFEFUTURA.ES

Like what you read? Head to the TechDogs homepage to find the latest tech content infused with drama and entertainment. We've got ArticlesWhite PapersCase StudiesReportsVideos and Events - the complete lot to help you Know Your World of Technology.

First published on Fri, Jun 17, 2022

Enjoyed what you've read so far? Great news - there's more to explore!

Stay up to date with the latest news, a vast collection of tech articles including introductory guides, product reviews, trends and more, thought-provoking interviews, hottest AI blogs and entertaining tech memes.

Plus, get access to branded insights such as informative white papers, intriguing case studies, in-depth reports, enlightening videos and exciting events and webinars from industry-leading global brands.

Dive into TechDogs' treasure trove today and Know Your World of technology!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs’ members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs’ Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. All information / content found on TechDogs’ site may not necessarily be reviewed by individuals with the expertise to validate its completeness, accuracy and reliability.

Tags:

IFFE FUTURA BIOTECH Omega 3 Organoleptic

Join The Discussion

- Promoted By TechDogs -

The Brivo Partner Program
  • Dark
  • Light