Bio-Marine Ingredients Ireland (BII), a company backed by Killybegs Fishermen’s Organization and Norwegian firm, Biomarine Science Technology, raised €5 million in private equity funding from clients of Cantor Fitzgerald Ireland to expand its existing business.
The cash will be used to fund working capital and bring a state-of-the-art manufacturing facility in Co. Monaghan into production. Cantor raised €3 million for the project in late 2008. The total investment in the project is now more than €20 million.
The marine bio-refinery in Lough Egish, Co. Monaghan, is unique in Europe, said the company. BII simultaneously produces a range of powders from fish which include both soluble and insoluble protein and a range of calcium powders which are now being exported to customers all over the world.
Read more about BII’s applications in aquafeeds in the latest issue of Aquafeed Magazine here.
