Elian secures US$45.7M investment to expand plant-based protein production
The facility employs clean-label oilseed processing technology to operate as the world’s first agro-industrial plant with an end-to-end hydrocarbon-free extraction process from raw bean to finished ingredient.
SPAIN – Elian, a developer of sustainable plant-based protein ingredients, has secured a €40 million (US$45.66M) investment from the Spanish Development Financing Company (COFIDES), with the state-owned investment institution becoming a minority shareholder as the company accelerates the expansion of its plant-based protein operations at the Port of Barcelona.
The investment is intended to consolidate Elian’s industrial project and support its future growth.
The investment is structured through Spain’s Co-investment Fund (FOCO), an instrument managed by COFIDES that supports strategic projects through co-investment with foreign investors.
Elian is part of Viserion International, which is acting as the co-investor in the transaction. According to Spanish media reports, the €40 million (US$45.66M) investment gives COFIDES a 13.8% stake in Elian.
Elian is investing more than €300 million (US$342.4M) in its Barcelona facility, which is being developed as an integrated production hub for plant-based protein and other oilseed-derived products.
The company acquired a soybean crushing plant at the Port of Barcelona from Cargill in 2024 and announced an expansion of the industrial project in late 2025. The expansion is expected to be completed in early 2028.
Once completed, the expanded facility will cover approximately 90,000 square meters and add more than 100,000 tonnes per year of production capacity for protein derivatives used in human food and animal feed. This will be added to the facility’s existing annual capacity of around 770,000 tonnes.
The project is also supported by ACCIÓ, Catalonia’s business competitiveness agency, which has provided €2.25 million (US$2.57M) through its high-impact business projects programme.
Elian generated €400 million (US$456.59M) in revenue in 2025 and employs about 90 people, according to COFIDES.
The company says its integrated facility is designed to strengthen European access to locally processed protein ingredients and reduce exposure to supplies from distant markets, including the United States, China and South America.
The investment comes amid increased European attention on protein supply resilience. COFIDES noted that 94% of the soy used for animal feed in the European Union is currently imported, while the EU aims to increase the share of domestically produced oilseed and protein crops used for feed from 25.8% in 2025 to 35% by 2035.
Elian is also promoting non-GMO soybean cultivation in Catalonia and Aragon, targeting 3,000 hectares during 2026.
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