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Banco Santander buys 5% of Kimitec and MAAVi Innovation Center

MADRID, 3 Oct.

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Banco Santander buys 5% of Kimitec and MAAVi Innovation Center

MADRID, 3 Oct. (EUROPA PRESS) -

Banco Santander has acquired, through the Smart Fund, a 5% stake in the Kimitec group and its MAAVi Innovation Center, within the framework of its strategy of helping "innovative, sustainable and high growth potential" companies, according to announced this Monday.

The CEO of Santander Spain, António Simões, has indicated that the acquisition of the stake "is a strategic operation" for the bank.

"Not only are we entering the biotechnology industry, but we are doing it hand in hand with one of the 'scaleups' companies with the greatest chance of becoming the most profitable unicorn in the coming years. With this agreement, we will add value to our portfolio of agro-industrial customers", he stated.

For his part, the CEO of Kimitec, Félix García, has pointed out that MAAVi Innovation Center has the vision of changing the way of producing food, considering that the current production model "has come to an end".

"In a context marked by the demands of Europe regarding the reduction of synthetic chemistry, supermarket chains that speak of zero waste and a consumer who is increasingly demanding and concerned about health and sustainability, the agribusiness is obliged to We knew how to anticipate this reality and for more than 15 years we have been working discovering the power of nature to achieve this challenge of a change in the production model based on nature", he highlighted.

In this line, Kimitec and MAAVi Innovation Center have closed numerous agreements with Bollo, GS Spain or Pescanova, as well as with giants in the agrochemical sector such as UPL, who have chosen MAAVi IC as a strategic partner in their transition to natural. Kimitec is also the only company in the sector that has 5 European Union Horizon projects due to its strategic capacity to promote the transition from chemical to natural in agribusiness.

After agriculture, the Spanish 'scaleup' has made the leap to other sectors such as aquaculture and livestock (substitution of antibiotics in the area of ​​animal health and increased productivity) and accompanies agribusiness in its transition from chemical to natural . In the long term, its plans are to also enter the cosmetics sector (replacement of pigments and active ingredients) and the pharmaceutical industry (replacement of active ingredients).

The entry of Banco Santander into the capital of Kimitec represents "a great boost for international growth", since the company will have the advice of the financial entity to attract new clients in the different geographies and sectors.

"It is time to move to agribusiness to achieve our purpose: to change the way food is produced. Our objective with this strategic agreement with Santander is to partner with each and every one of its agribusiness clients", said Félix García .

The agreement also provides for collaboration in the social field, in which Kimitec has the MAAVi Foundation, a non-profit organization that advocates diversity as a source of social and business wealth.