The European Investment Bank (EIB), the EU bank, and the Amadéite Group have signed a EUR 30m loan agreement in support of the Group’s research and development activities. The signing ceremony was held at the Breizh Algae Tour 2017 event with the participation of EIB Vice-President Ambroise Fayolle and the Amadéite Group’s CEO Hervé Balusson.
“We are pleased to count Amadéite among the more than 90 French biotech companies supported by the EIB Group to date. This loan is of particular importance to our activity in Brittany in favour of the agricultural and marine biotechnology sectors”, Vice-President Fayolle stressed during the signing ceremony. “It will enable us to support the Group in the development of innovative products with a real impact on the health and animal and plant nutrition segments. Fostering innovation is at the heart of our action in support of business and regional competitiveness. It is also a major plank of the Juncker Plan, which is continuing to be ramped up in France, with 89 operations approved by the EIB Group so far.”
This new loan is designed to support the goals of the Amadéite Group’s 2017-2020 RDI programme “Without Antibiotics thanks to Algae”, for which the Group plans overall investment of more than EUR 70m. The loan will be backed an EU guarantee with the aim of facilitating access to finance for innovative firms and attracting other investors.
For Hervé Balusson, “The support of the European Investment Bank represents strong recognition of the technologies developed and mastered by our teams and a show of trust in our future developments. This partnership will enable us to step up our progress in the biotechnology field based on algae and marine proteins. Beyond supporting our project, the renown of the European Investment Bank will have a positive impact for our developments on the international stage, which is essential for a future-oriented midcap company.
Created in 1995, the Amadéite Group is a pioneer in the field of marine biotechnology. It has developed natural nutrition and health solutions for plant cultivation, livestock farming and human food. Thanks to its unique expertise in algae extraction and its complementary harnessing of clays, trace elements and renewable organic matter, the Group has experienced strong growth. It is entering a new phase of development aimed at creating natural environmentally and people-friendly solutions through its “Without Antibiotics thanks to Algae” project and also by providing pesticide-free global solutions.
The Group had a consolidated turnover of EUR 119m in 2016 and foresees a turnover of more than EUR 200m in 2020.
The Group is also pursuing an external growth policy aimed at accelerating its development plan, notably with the acquisition in late June 2017 of the French group PRP Technologies, the go-to company in the biostimulants sector, and the more recent acquisition of Aroma Celte, enabling the Group to expand its product offer for people with natural solutions combining the benefits of algae and essential oils.
With the emergence of these new natural technologies, the agricultural model is in the midst of a revolution: the Amadéite Group is positioning itself as a key player in the provision of global solutions for livestock and arable farmers with antibiotic and pesticide-free programmes particularly using the exceptional properties of algae and marine proteins.
Source: The European Investment Bank (EIB)
Illustration Photo: Biotech Research (Public Domain from Pixabay.com)