Avril secures $60M loan from EIB for plant protein and chemistry investments

In France, the European Investment Bank (EIB) and the agrifood group Avril announced the finalization of a €50 million loan for the financing of innovative projects in the fields of plant protein and plant chemistry. This is the first partnership of its kind between the EIB and the Avril Group.

This contribution of additional long-term resources will accelerate the development of innovation programs included in its “Avril 2023” strategic plan, including:

The production of protein for human consumption and animal nutrition from oilseeds (rapeseed, sunflower and soybean).

The development of biosourced materials replacing fossil resources for use in chemistry.

Avril’s investments in these projects amount to €134 million over a three-year period. The various programs will be rolled out in Avril’s research facilities and innovative sites in France, Belgium and Germany.