Czabanski & Galuszynski has advised HiProMine on a EUR 32 million financing for the construction of a new production plant and insect genetics center from Bank Gospodarstwa Krajowego. Dentons advised BGK and the KUKE state export credit agency.
HiProMine, established in 2015, focuses on technology for the industrial breeding of insects and the use of their biomass for the production of alternative feed materials and organic fertilizers. The company debuted on the NewConnect market of the Warsaw Stock Exchange in July 2022.
According to Czabanski & Galuszynski, Bank Gospodarstwa Krajowego has granted HiProMine the financing for the construction of a new plant for the production of animal feed materials and an Insect Reproduction Genetic Center in the amount of more than EUR 32 million, with the total budget of the project exceeding EUR 45 million.
Bank Gospodarstwa Krajowego is a Polish development bank that supports Poland’s sustainable social and economic development. According to Dentons, "this is the first financing provided by BGK under the project finance formula using KUKE’s guarantees for export-generating investments."
The Czabanski & Galuszynski team included Partner Piotr Galuszynski, Managing Associate Adam Janczewski, and Associates Katarzyna Pasek and Maja Batra.
The Dentons team included Partners Tomasz Zwolinski and Michal Turczyk, Counsel Jakub Zienkiewicz, Senior Associate Grzegorz Kukowka, and Associates Dominika Krysiak-Bogdzio and Aleksandra Jurga-Wieckowska.