Spanish development finance institution COFIDES has committed €40 million to Barcelona-based agri-food company Elian in exchange for a minority shareholding.
The capital will help fund Elian’s expansion at the Port of Barcelona, where the company is committing more than €300 million to grow its plant-based protein manufacturing operations.
Elian purchased a soybean crushing plant in 2024 before unveiling plans for a broader site expansion in late 2025. Construction is scheduled for completion in early 2028.
The enlarged facility will span 90,000 square metres and increase annual output capacity by over 100,000 tonnes for protein ingredients used in food production and animal nutrition. The site currently produces up to 770,000 tonnes per year.
The development has additionally secured a €2.25 million grant from Acció, the Catalan Department of Business and Labour’s agency for business competitiveness.
According to Elian, the expanded plant will enable the business to supply more customers across a wider selection of end markets. Its oilseed processing system is engineered to eliminate the use of hydrocarbons throughout the production chain, from soybean processing through to the final product.
Elian recorded €400 million in revenue during 2025 and has a workforce of 90 employees. Its Barcelona plant is among only three integrated facilities of its type operating in Europe.
The funding arrives as the European Commission works to boost domestic production of protein from oilseeds and protein crops for animal feed. The Commission aims to increase the domestic share from 25.8% in 2025 to 35% by 2035.
Elian is also developing non-GMO soybean production in Catalonia and Aragon, aiming to bring cultivation to 3,000 hectares in 2026.
