EIB joins landmark funding to Irish agri-tech group Devenish Nutrition
Belfast-based agri technology company Devenish Nutrition has secured €118 million in long-term funding - including €40 million from the European Investment Bank - to enable its research, development and growth plans. The EIB investment has been combined with commitments from Devenish's new commercial finance partners, Ulster Bank and Danske Bank.
The EIB investment is the largest ever support for agri-business in Ireland by the EIB. It is also the first support for the agri-business sector in the country under the Investment Plan for Europe, in which the European Commission and EIB are strategic partners.
The EIB loan will enable Devenish to develop a purpose-built Global Innovation Centre in Dowth, County Meath, from where it will develop its 'One Health - from Soil to Society' research, development and innovation programme. It will also fund innovation related capital projects and research into optimised animal nutrition, food innovation, health and sustainability.
