ADL BioPharma increases capital by EUR 24 million, which is 100% subscribed by Kartesia as the sole shareholder, by converting an equivalent amount of all its old loans in the company. In this way, ADL significantly reduces its debt ratios and financial interest burden, and strengthens its equity now that the company is launching a process to seek financing to implement its 2021-2025 Strategic Plan, approved in May 2021.
ADL has already met several important milestones of this Plan, including achieving a turnover increase of more than 100% compared to 2020; and reaching a positive operating result in the year, up to August 2022.
The new financing will be used to undertake projects that are highly relevant to the company’s size and growth, such as the expansion of capacity with a new 20 m3 semi-pilot plant and investment in increasing its production capacity to meet the growing demand from international customers in the biotechnology sector. ADL has positioned itself as an international benchmark for precision fermentation aimed at the personal care sectors, which helps to project the importance of the biotech ecosystem based in León.
In addition, ADL’s current wastewater treatment plant will be upgraded, making it a benchmark centre for the circular economy in Castilla y León with the valuation of all waste. In this way, we are responding to our commitment to the social environment and sustainability.
This agreement reflects Kartesia’s great confidence in ADL’s project and its potential growth. Tomás Neuhaus, Director of Kartesia, mentioned that “this capitalisation of all our old debt demonstrates Kartesia’s confidence in ADL as a unique asset, in the company’s human team and in the long-term prospects of the sector” and also highlighted that “in an environment of rising energy prices, ADL is committed to transforming its wastewater treatment plant into a comprehensive recycling centre that will produce fertilisers, biomethane to reduce its dependence on natural gas and electrical energy”.
Ignacio Urbelz, President and CEO of ADL, said: “This support gives us renewed strength to continue the intense work of the past months and drives us with enormous energy to achieve our strategic vision.