Bio-Marine Ingredients Ireland secures €5 million funding to expand existing business
Monday, July 27, 2020
Bio-Marine Ingredients Ireland (BII), a company backed by Killybegs Fishermen’s Organization and Norwegian firm, Biomarine Science Technology, raised €5 million in private equity funding from clients of Cantor Fitzgerald Ireland to expand its existing business.
The cash will be used to fund working capital and bring a state-of-the-art manufacturing facility in Co. Monaghan into production. Cantor raised €3 million for the project in late 2008. The total investment in the project is now more than €20 million.
The marine bio-refinery in Lough Egish, Co. Monaghan, is unique in Europe, said the company. BII simultaneously produces a range of powders from fish which include both soluble and insoluble protein and a range of calcium powders which are now being exported to customers all over the world.
Read more about BII’s applications in aquafeeds in the latest issue of Aquafeed Magazine here.
Check out the latest industry job openings in our Job Board.
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