©Jennewein Biotechnologie
Functional sugar producer Jennewein Biotechnologie has received €15 million in funding from the European Investment Bank (EIB) to boost the company’s production output.
Jennewein produces functional sugars for a wide range of applications including nutritional, pharmaceutical and cosmetic products, and also manufactures human milk oligosaccharides (HMOs) for infant nutrition products.
The funding will be used to construct a new R&D facility in Bonn, Germany, which will allow the company to increase its HMO product portfolio.
According to a statement released by the EIB, the funding will also be used by Jennewein to “upscale its production capacity”.
The EU bank’s loan has been backed by the European Fund for Strategic Investments (EFSI), a key part of the Investment Plan for Europe – also known as the Juncker Plan – which aims to boost the competitiveness of the European economy.
Stefan Jennewein, founder and CEO of Jennewein Biotechnologie said: “With this loan, the EIB has given us her trust and the chance to conquer furthermore the HMO market.
“With the help of the EIB we can invest in the future, in our production and a new R&D research centre.”
The President of the European Investment Bank Werner Hoyer added: “The EU bank supports in Europe many activities which by nature are riskier and therefore often face difficulties in accessing finance.
“We, as the EU bank, can provide these funds to address the needs of small and innovative companies, as we are backed by the EFSI.
“This clearly demonstrates the added value that the Juncker-Plan brings to the European economy to foster growth and jobs.”
European Commissioner Vytenis Andriukaitis said: “As the EU Commissioner for Health and Food Safety and a former doctor, I know the positive impact that research, innovation, including in biotechnology, can have on our nutrition and good health, particularly those of infants and young children.
“I am happy to see that the Investment Plan for Europe is really working and boosts research and innovation for the health of EU citizens.”
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