EIB finances Avril's research in plant protein and biosource materials
The European Investment Bank has agreed a €50 million loan to French agro-food group Avril to finance innovative projects in the fields of plant proteins and chemistry. This is the first partnership of this kind between the EIB and the Avril group.
The funding will make it possible to accelerate the development of innovation programs included in the company's April 2023 strategic plan, including in particular: the production of proteins for human consumption and animal nutrition from oilseeds (rapeseed, sunflower, and soybeans); and the development of biobased 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 take place in Avril's research facilities and innovative sites in France, Belgium and Germany.
