The European Investment Bank (EIB) and Belgium-based ingredients manufacturer Puratos have entered into a loan contract for €45m that will be used for Puratos European research and development program until 2015.
Puratos is involved in the production and commercialization of ingredients for the bakery, patisserie and chocolate sector for both artisans and industrial customers.
The new research program aims to develop and deliver new enzymes and food ingredients within the next few years.
The project co-financed by the EIB will focus on developing new fermentation-based functionalities, yeast components and emulsifiers for the bakery industry. Its objective is to decrease the amount of hard fats and cholesterol-raising ingredients in the food production process and increase the part of healthy natural ingredients.
The R&D activities will be carried out in Puratos EU-based RDI and production facilities, primarily at its main research center in Groot-Bijgaarden near Brussels, Belgium.
Puratos chief executive officer Daniel Malcorps said the EIB loan is an important element in the company's financing strategy, and will help ensure that Puratos continues to grow worldwide, supported by ever more important R&D activities, in particular in Europe.
"These activities centre on Puratos' vision to offer innovative solutions to meet increasing consumer demands for more healthy food without compromising on taste," Malcorps added.
The RDI program of Puratos is being funded under the Risk Sharing Finance Facility (RSFF), established up jointly by the European Commission and the EIB to assist access to borrowing in the fields of research, technological development, demonstration and innovation and to create additional funding capacity in these areas.
