Financing for Internationalization
COFIDES has granted a €1,5 million loan, funded by FONPYME, to Thermogreen. This financing will allow the manufacturer of thermal insulation made from 100% recycled material to acquire machinery and equipment for what will be its first industrial plant in France, a key project for its access to the Central European market.
The state company COFIDES will support Thermogreen at the opening of its first factory in Francia with a loan of 1,5 million euros from FONPYMEThe manufacturer of 100% recycled thermal insulation thus seeks to consolidate its access to the Central European market and expand its customer base.
The operation, formalized in Madrid, is materialized through a loan charged to Fund for Investment Operations Abroad for Small and Medium Enterprises (FONPYME)This capital will be used to acquire machinery and equipment to outfit what will be the first industrial plant of Thermogreen outside EspañaThe overall project represents a total investment of nearly €16 million and will allow the company, which already has a commercial subsidiary in Francia From 2024, to take a qualitative leap in its internationalization strategy.
With this new production capacity, the Toledo-based company will be able to serve the markets of [unclear - possibly "markets"] much more directly and efficiently. Francia, Alemania and the Benelux, significantly expanding its client portfolio and strengthening its competitive positioning on the continent. Thermogreen, based in Noblejas (Toledo), has established itself as a key player in the Spanish market of extruded polystyrene (XPS) sheets thanks to its own technology that allows it to manufacture its product from 100% recycled raw material.
| Concept | Key Data |
|---|---|
| Funded Company | Thermogreen |
| Financing entity | COFIDES |
| Financial Instrument | Loan charged to FONPYME |
| Loan Amount | 1,5 millones de euros |
| Total Project Investment | Close to 16 million euros |
| Destination of the Investment | First industrial plant in Francia |
A strategic commitment to sustainability and the circular economy
The value proposition of Thermogreen, based on circular economy, has been a determining factor in the operation. In the words of Miguel Ángel Ladero, corporate director of the Investment department of COFIDES, "this bet of Thermogreen through its focus on the circular economy and energy efficiency, with a range of solutions that contribute to energy savings and emissions reduction, it is an unequivocal demonstration of its commitment to innovation and sustainability, values fully aligned with the strategic vision of COFIDES».
For its part, Jesús Ladera, CEO of ThermogreenHe emphasized the strategic value of the implementation. "With this new industrial implementation, Thermogreen "It will be able to access most of the community market, being the first company in the sector whose raw material is 100% recycled, from polystyrene boxes previously used for the refrigerated transport of food," he stated.
Founded in 2019, Thermogreen It is the result of an initiative by four partners with extensive experience in the sector. Their business model focuses on sustainability, innovation, and comprehensive customer service—pillars that now drive their European expansion with the support of COFIDES, a state-owned commercial company in whose shareholding the Spanish State participates, Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell y CAF-Banco de Desarrollo de América Latina.
Key points and frequently asked questions about Thermogreen's internationalization
What impact will this operation have on Spanish industry?
This implementation reinforces the image of Spanish industry as a leader in sustainable and circular economy technologies. It demonstrates the ability of Spanish SMEs to compete in demanding European markets and consolidates the "Brand". España» in the green building sector, an area of growing strategic demand.
What are the implications for the insulation sector in Europe?
The arrival of a plant of Thermogreen a Francia It introduces a competitor with a unique value proposition based on 100% recycled material. This could pressure other manufacturers in the sector to accelerate their own transitions to more sustainable models and innovate in the use of secondary raw materials, in line with European directives on energy efficiency and the circular economy.
What should other Spanish SMEs seeking financing to internationalize know?
The case of Thermogreen evidence that a business model with a strong sustainability component and criteria ESG (Environmental, Social, and Governance) It is an increasingly decisive factor in accessing public-private financing. Instruments such as FONPYME, managed by COFIDESThey value projects that not only guarantee economic viability, but also generate a positive impact on the environment.
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