Elian secures US$45.7M to expand European feed protein supply

SPAIN – Plant-based protein producer Elian has secured a €40 million (US$45.66 million) investment from Spain’s COFIDES to expand its soybean processing operations in Barcelona and increase the supply of protein ingredients for animal feed.

COFIDES, the Spanish Development Financing Company, will become a minority shareholder in Elian through the country’s Co-investment Fund (FOCO). 

The investment will support the company’s expansion of its industrial project at the Port of Barcelona.

Elian is investing more than €300 million (US$342.4 million) in the facility, which is being developed as an integrated hub for soybean processing and the production of plant-based protein and other oilseed-derived products.

The company acquired the soybean crushing plant from Cargill in 2024 and expanded its investment plans in late 2025. 

The expansion is expected to be completed in early 2028.

Once completed, the facility will cover around 90,000 square metres and add more than 100,000 tonnes a year of production capacity for protein derivatives used in human food and animal feed. 

This will be added to existing annual capacity of around 770,000 tonnes.

The project is aimed at strengthening Europe’s domestic processing capacity for protein ingredients and reducing exposure to imports from distant markets, including the United States, China and South America.

Protein supply is a major issue for Europe’s livestock and feed industries, with soybean products widely used as sources of protein in animal diets. 

COFIDES said 94% of soy used for animal feed in the European Union is currently imported.

The EU is targeting an increase in 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 production in Catalonia and Aragon, with a target of 3,000 hectares during 2026. 

The initiative could provide a closer link between regional soybean cultivation, processing and feed ingredient production.

The company’s Barcelona project uses what Elian describes as clean-label processing technology, designed to operate with an end-to-end hydrocarbon-free extraction process from raw beans to finished ingredients.

The investment also includes €2.25 million (US$2.57 million) in support from ACCIÓ, Catalonia’s business competitiveness agency, through its high-impact business projects programme.

Elian generated €400 million (US$456.59 million) in revenue in 2025 and employs around 90 people, according to COFIDES.

The expanded facility will therefore increase local processing capacity while supporting efforts to diversify Europe’s sources of protein ingredients for livestock and animal feed.

Sign up HERE to receive our email newsletters with the latest news updates and insights from Africa and the World, and follow us on our WhatsApp channel for updates.