Elian Secures €40M From Spanish State Investor to Expand Barcelona Soy Protein Plant

Spanish state-owned development finance company COFIDES has made a €40 million investment in agribusiness Elian to expand its soy protein facility at the Port of Barcelona. This investment, made through the FOCO co-investment fund, aims to support Elian's goal of leading Europe in plant-based protein production. The expansion of the facility is expected to be completed by early 2028, increasing the plant's capacity for protein derivatives by over 100,000 tonnes annually.

Elian's focus on non-GMO soybean cultivation in Catalonia and Aragon aligns with the European Commission's Protein Action Plan, which aims to increase the share of EU-grown protein used in animal feed. The company's CEO, Andrés Martín, highlighted the importance of local and sustainable supply chains in ensuring food security and reducing dependence on global markets. This partnership with COFIDES will help Elian advance its goals of plant-based protein sovereignty and contribute to strengthening European supply chains in the agribusiness sector.