#InvestEU: EIB provides EUR 20m credit line to Amoéba to revolutionise water treatment
Amoéba, an innovative company developing a disruptive biological biocide capable of eliminating waterborne bacterial risk (legionella, pseudomonas, listeria, etc.) has received financing worth EUR 20m from the EIB. This EIB financing is secured by the European Fund for Strategic Investments (EFSI), the cornerstone of the Investment Plan for Europe, commonly known as the Juncker Plan.
This EU financing will enable Amoéba to speed up its production capacity whilst supporting the development of its international business. It will also make a valuable contribution to its investments in research, development and innovation (RDI). Amoéba aims to revolutionise water treatment via a biological process that can protect the environment from chemical products. The entirely natural solution proposed by Amoéba offers a more effective alternative to the chemical treatments traditionally used in the industrial sector. It also complies with the new regulations governing chemical emissions into the environment. Given the scope of the worldwide market for chemical biocides (EUR 21bn), Amoéba is initially concentrating on the segment of industrial air-cooled towers (ACT) estimated to be worth EUR 1.7bn.
“This financing illustrates the priority we are giving to the environment and innovation”, said EIB Vice-President Ambroise Fayolle at the signing ceremony. “It will enable Amoéba to support the development of its innovative biological biocide, which offers an alternative to other forms of water treatment, and increase its production capacity. This loan, which comes under the Juncker Plan, is designed to step up our financing of small innovative businesses with strong growth potential. It is also at the heart of the priorities of the French Government's investment plan.”
“This EIB loan shows the EU's commitment to supporting industry and innovation in Europe. In return, Amoéba, an example of the industry of the future, will bolster Europe's competitiveness compared with other regions. It would be difficult to nurture new leaders without this crucial phase of investment. On behalf of Amoéba, I wish to thank the EIB for the confidence it has placed in our company at the pre-commercialisation stage”, said Fabrice Plasson, CEO of Amoéba.
The biological biocide developed by Amoéba is a microorganism, a natural predator of pathogenic bacteria and reservoirs such as biofilm in which bacteria protect themselves from chemical biocides. The product has undergone an in-depth validation process and has been tested for a total of more than 10 years at industrial sites under real conditions.
Amoéba plans to invest massively in its production capacity to meet its substantial customer demand and continue to nurture a distribution network that is already well established in Europe and North America. Such growth will undoubtedly have a social impact in terms of job creation.
With innovation as one of its key priorities, the EIB Group provided EUR 13.5bn to innovative projects across Europe in 2016, supporting research programmes from large groups, midcaps and smaller companies. In France in 2016, 38% of the EIB Group's total investment of EUR 9.3bn was devoted to supporting companies, innovation and R&D.
The Juncker Plan is continuing to gather momentum in France, with a running total of 99 operations providing EUR 7.5bn in EIB Group financing set to mobilise EUR 35.4bn in additional investments.