# PackBenefit secures EUR 13 million EIB venture debt to build second sustainable packaging plant in Spain

The European Investment Bank signed a EUR 13 million venture debt agreement with PackBenefit to fund a second commercial-scale plant in Aldeamayor de San Martín (Valladolid, Spain), adding 180 million recyclable food trays per year.

- Type: Investment
- Announced: 2023-02-23
- Where: Aldeamayor de San Martín, Valladolid, Spain
- Value: $13.9M (13.0M EUR)
- Status: announced
- Capacity: 180 million trays per year (ca. 4,500 metric tons)
- Products: recyclable food trays, compostable food trays
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [PackBenefit](https://endata.com/companies/10294.md)
- [European Investment Bank](https://endata.com/companies/10295.md) (investor)
- [Circularity Capital](https://endata.com/companies/10296.md) (investor)

## Sources

- [packbenefit.eco](https://packbenefit.eco/en/eib-agrees-venture-debt-financing-with-packbenefit-to-accelerate-rollout-of-leading-sustainable-food-packaging-technology/), 2023-02-23: "The financing will also cover the construction of the company's second commercial-scale plant in Aldeamayor de San Martín (Valladolid, Spain)."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.