EIB Fuels Swedish Food Security: €50M Loan Boosts Lantmännen’s Innovative Pea Protein Factory

EIB Fuels Swedish Food Security: €50M Loan Boosts Lantmännen’s Innovative Pea Protein Factory

(IN BRIEF) The European Investment Bank has provided Lantmännen with a €50 million loan to co-finance the construction of a new pea protein isolate factory in Lidköping, Sweden. This investment, covering about half the project cost, will enable the factory—set to process over 40,000 tonnes of locally grown peas per year—to produce high-quality plant proteins for various food products, including meat substitutes and plant-based milks. Scheduled for completion in the first half of 2027, the project is expected to create 30 jobs and supports EU initiatives aimed at enhancing food security, promoting sustainable agriculture, and reducing reliance on imported proteins. The facility is part of a broader strategy to improve plant protein self-sufficiency and reduce the environmental impact of food production.

(PRESS RELEASE) LUXEMBOURG, 3-Apr-2025 — /EuropaWire/ — The European Investment Bank (EIB) has approved a €50 million loan for Lantmännen to help finance the construction of a new pea protein isolate factory in Lidköping, Sweden. Covering roughly half of the project’s total investment, this loan supports a landmark development in Sweden—the first factory of its kind, which will process over 40,000 tonnes of locally grown peas annually, sourced from Lantmännen cooperative members.

Set for completion in the first half of 2027, the facility is designed to produce high-quality plant proteins that can be incorporated into an array of products including protein bars, drinks, bread, plant-based milks, and meat substitutes. This initiative aims to promote sustainable agriculture, reduce reliance on imported proteins, and strengthen EU food security. Additionally, the project is expected to create about 30 new jobs in the region.

EIB Vice-President Thomas Östros remarked, “By supporting Lantmännen’s investments in pea protein production, we will strengthen both food security and climate action in Sweden and across the European Union. This project is also a great example of how EU cooperation can deliver benefits on the ground.” The initiative aligns with broader EU targets to boost plant protein self-sufficiency, encourage sustainable farming practices, and mitigate climate impacts. Lantmännen CFO Michael Sigsfors added, “We are delighted that the EIB recognises the long-term value of investing in the food of the future – plant protein – and supports our Lidköping facility. Expanding food production not only enhances profitability for farmers but also ensures improved food security.”

Peas and beans, recognized as versatile and climate-friendly crops, require minimal water and nutrients while promoting biodiversity. By leveraging legumes grown in Sweden, the new facility will reduce the dependency on imported soybeans, further advancing both Swedish and EU sustainability goals.

Background information  

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

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Lantmännen

Lantmännen is an agricultural cooperative and northern Europe’s leader in agriculture, machinery, bioenergy and food products. Owned by 17 000 Swedish farmers, Lantmännen has 12 000 employees, operations in over 20 countries and an annual turnover of SEK 70 billion. With grain at the heart of the operations, Lantmännen refines arable land resources to make farming thrive. Some of Lantmännen’s best-known food brands are AXA, Kungsörnen, Scan, Korvbrödsbagarn, GoGreen, FINN CRISP and Bonjour. The company is founded on the knowledge and values acquired through generations of farmers. By engaging in research, development and operations throughout the value chain, Lantmännen takes responsibility from farm to fork.

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SOURCE: European Investment Bank