Actus des entreprises  •  Membres

Dentons advises BGK and KUKE on financing of HiProMine’s innovative investment projects

Dentons has advised Poland’s state development bank, Bank Gospodarstwa Krajowego (BGK), and state export credit agency, Korporacja Ubezpieczeń Kredytów Eksportowych S.A. (KUKE), on a €32.37 million financing extended to HiProMine. The funds will be used to build and equip a new plant for the production of feed materials in Karkoszów and a genetic center for insect breeding in Robakowo, Poland. Both projects are under construction and production at the new facilities is expected to start in the first half of 2024. 

This is the first financing provided by BGK under the project finance formula using KUKE’s guarantees for export-generating investments. 

Dentons advised BGK and KUKE on preparing, negotiating and executing the finance documents and securities.  

“We are honored to have been part of this outstanding project and to be able to contribute to the development of HiProMine’s operations in Poland. The cooperation with all the parties involved in the transaction was extremely satisfactory and we are happy to express our appreciation for the professionalism and commitment demonstrated by all,” said Tomasz Zwoliński, partner in the Banking and Finance team, who supervised and led the transaction.  

Tomasz Zwoliński was assisted by Jakub Zienkiewicz (counsel) and Dominika Krysiak-Bogdzio (associate) from the Banking and Finance team. The team also included the following lawyers from the Development, Innovation Grants and Incentives team within the Tax practice: Michał Turczyk (partner), Grzegorz Kukowka (senior associate) and Aleksandra Jurga-Więckowska (associate). 

Listed on the NewConnect market of the Warsaw Stock Exchange, HiProMine is a European supplier of alternative protein, produced using innovative proprietary industrial insect farming technology. The production guarantees minimal water consumption, negligible carbon dioxide emissions compared to other livestock farming processes, antibiotic and GMO-free products and 100% raw material utilization. The company's product range is aimed primarily at the pet food market, fish and livestock feed and horticulture. 

 

About Dentons 
Dentons is designed to be different. As the world's largest law firm with 21,000 professionals in over 200 locations in more than 80 countries, we can help you grow, protect, operate and finance your business. Our polycentric and purpose-driven approach, together with our commitment to inclusion, diversity, equity and ESG, ensures we challenge the status quo to stay focused on what matters most to you. www.dentons.com 

 

Media Contact 

 

Iga Niewiadomska 

Public Relations & Communications Manager  

T: +48 22 242 55 30 | M: +48 608 007 828 

E: iga.niewiadomska@dentons.com  

Monika Grzybowska-Fragoso 

Marketing & Business Development Manager  

T: +48 22 242 56 67 | M: +48 664 145 043 

E: monika.grzybowska-fragoso(@)dentons.com  

 

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