Elian, a Barcelona based agribusiness and one of Europe's leading soy processors, has received a 40 million euro investment from Cofides, Spain's state development finance company, through its Co Investment Fund, FOCO. Under the deal, Cofides becomes a minority shareholder in the company alongside its owner, the Viserion International group.
The company operates an integrated milling plant at the Alvarez de la Campa facility in the Port of Barcelona, one of only three such integrated infrastructures on the continent. There it manufactures soy derived ingredients including textured soy protein, protein concentrate, soy flour, soybean oils and soy lecithin, using a pioneering processing technology that avoids hydrocarbons and allows for cleaner labeling.
The plant currently processes 770,000 tonnes a year and will expand its capacity by more than 100,000 additional tonnes of protein derivatives by early 2028, when the facility will reach around 90,000 square feet. The project has also secured a 2.25 million euro grant from the Catalan government's Department of Business and Labour, which backed the initiative for its alignment with the region's reindustrialization and sustainability goals.
Andres Martin, Elian's founder and chief executive, said "this alliance enables us to accelerate our roadmap to lead Europe in plant based protein sovereignty." Miguel Tiana, Cofides' director general, said the organization "is contributing to the growth of a company that combines sustainability, technology and long term vision."
The deal fits within the EU's broader goal of reducing dependence on plant protein imports, as the bloc currently imports 74 percent of high protein sources such as oilseeds and protein crops, leaving it exposed to supply chain disruptions from the United States, South America and China. The EU Protein Plan has set a target of raising domestic protein production from 25.8 to 35 percent by 2035, a goal in which plants like Elian's in Barcelona aim to play a central role.