The EIB provides financing to Jennewein
The European Investment Bank (EIB) provides a new financing of 15 million euros to Jennewein Biotechnologie GmbH, a highly innovative German company that offers a novel technology for the production of rare functional sugars for a wide range of applications, which includes nutritional, pharmaceutical and cosmetic products. The company is also one of the leading manufacturers of human milk oligosaccharides (OLH), which are an essential component of human breast milk and have been shown to have a beneficial effect on health.
The loan from the EU bank is backed by a guarantee from the European Fund for Strategic Investments (EFSI)- fyi. The EFSI is an essential pillar of the Investment Plan for Europe, also known as the Juncker Plan, under which the EIB and the European Commission collaborate as strategic partners, and the EIB financing operations are boosting the competitiveness of the European economy.
The president of the European Investment Bank, Werner Hoyer, said: “The EU bank supports many activities in Europe that, by their nature, pose a greater risk and, therefore, often have difficulties accessing financing. , as the EU bank, we can provide these funds to address the needs of small and innovative companies, as we have the backing of the European Fund for Strategic Investments, which clearly demonstrates the added value that the Juncker Plan brings to the economy European Union when it comes to promoting growth and employment “.
Jennewein will use the new financing to create an R & D center in order to continue expanding its OLH product portfolio and increase its production capacity. Stefan Jennewein, founder, and CEO of Jennewein stressed that, by belonging to a new and innovative market, commercial banks were not inclined to invest in their business, while the EIB was there to make sure that their development plans came true. “With this loan, the European Investment Bank gives us their confidence and the opportunity to continue conquering the market for oligosaccharides in human milk, thanks to the help of the EIB, we can invest in the future, that is, in our production and in a new R & D center “, said Stefan Jennewein on the occasion of the signing of the contract in Rheinbreitbach.
European Commissioner Vytenis Andriukaitis commented
“As EU Commissioner for Health and Food Safety and a former doctor, I know the positive effects that research and innovation, even in biotechnology, can have on our nutrition and good health, Especially when it comes to babies and young children, I am pleased to see that the Investment Plan for Europe is working well and encourages research and innovation for the health of EU citizens. ”
European Investment Bank The European Investment Bank (EIB) is the European Union long-term lending institution, owned by its member states, which offers long-term financing for safe investments in order to contribute to the objectives of the European Investment Bank. EU policy.
About Jennewein Jennewein Biotechnologie is a leading international company in industrial biotechnology that has a wide range of products in the field of complex oligosaccharides (OLH) and rare monosaccharides. It manufactures an extensive catalog of innovative OLH products, such as 2′-fucosyllactose, 3′-fucosyllactose or lacto-N-neotetraose. These rare sugars are used in the food industry (especially infant formula milk), the pharmaceutical industry and the cosmetics industry. In 2015, the US Food and Drug Administration (FDA) UU granted Jennewein Biotechnologie a license to market 2′-fucosylosectose in the United States. This was followed by the marketing authorization of the European Union in 2017, under the New Food Regulation.