The loan of 300,000 euros will enable the manufacturer of biologicals for agriculture to consolidate its business in the country and further its commitment to corporate sustainability.
Madrid, April, 2024. COFIDES has supported Futureco Bioscience, a company specialized in the manufacture of high quality biostimulants and organic biopesticides, in its consolidation in the Mexican market through a loan of 300,000 euros from its own resources.
The Catalan company, with a subsidiary in Mexico City, began commercial operations in the country last year. The aim of the project supported by COFIDES, whose total investment amounts to 375,000 euros, is to consolidate its business in the sector of biological products for agriculture.
Previously, COFIDES supported the company in 2020 and 2022 in its expansion in Peru.
The corporate director of the Investment Department of COFIDES, Miguel Angel Ladero, expressed his satisfaction at continuing to support a company “committed and innovative as Futureco Bioscience so that its products, designed to optimize crop yields and reduce the impact on the environment, can go further and further and contribute to strengthen a sustainable and regenerative agricultural production”.
The president and CEO of Futureco Bioscience, Rafael Juncosa, expressed his gratitude for the support of COFIDES, noting: “This funding consolidates our activity in Mexico and will allow us to accelerate our impact on sustainable agriculture in the country.”
The funding will also benefit from the COFIDES Impact program, which promotes investment in actions with a positive impact on the Sustainable Development Goals (SDGs). In this case, the technical assistance component will be applied for the development of the 2024 sustainability plan of Futureco Bioscience and its subsidiaries. Juncosa commented: “Futureco Bioscience is committed and determined to increase the sustainability of our entire value chain. These actions not only benefit the planet and society, but also increase the value of the company. I thank COFIDES for their confidence in our vision and for supporting us in our mission”.
The entire project contributes in particular to the achievement of Sustainable Development Goal (SDG) 2, Zero Hunger, specifically target 2.4: Ensure sustainable food production systems and implement resilient agricultural practices.
ABOUT FUTURECO BIOSCIENCE
Founded in 1993 and located in Olèrdola (Barcelona), Futureco Bioscience is a company dedicated to the manufacture of agrobiotechnological products for crop protection and nutrition. Since its inception, it has been characterized by its strong investment in R&D and by an innovative and sustainable approach, oriented towards regenerative agriculture. The company is distinguished by its in-house organization. It develops and manufactures its own range of biotech products in-house and markets them worldwide. It has a presence in 50 countries and maintains relationships with partners, collaborators and partners around the world.
ABOUT COFIDES
COFIDES is a public-private company specialized in the management of state funds that provides medium and long-term financing for private investments related to different public policy purposes. COFIDES directly manages funds aimed at supporting the internationalization of Spanish companies, strengthening the solvency of companies that have been severely affected by the COVID-19 pandemic, and attracting foreign investment to Spain through co-investment agreements that contribute to increasing the impact of the investment ecosystem in this country. COFIDES also supports the management of the financial cooperation portfolio of the Spanish Agency for International Development Cooperation, which promotes sustainable development in emerging economies and developing countries. In the company’s ownership structure, the Spanish government holds 53% of the capital, while the remaining 47% is held by Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Banco de Desarrollo de América Latina y el Caribe (CAF).