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Biovet JSC is a leading European manufacturer of nutritional feed additives for animal health, intermediates for the human pharmaceuticals industry, as well as a provider of enzymes and various ingredients for the baking, wine, brewing, detergent and textiles industries. Biovet, established more than 50 years ago, has production sites in three cities in Bulgaria and one in Macedonia. Employing more than 1000 people, the company plays a vital role in the local communities, supporting employees and sponsoring various community events and local institutions.
To decrease the energy costs and to improve the production process the company planned to upgrade its production line and addressed BEERECL for a loan for this project.
The BEERECL team performed analysis of the investment, primarily the potential for energy savings and technical-financial parameters.
The energy efficient measures included installation of variable speed drives on fans, pumps and motors.
The €560,000 investment allowed the company to reduce its electricity bill by €350,000 per year. The investment will repay itself out of energy savings in less than two years, with future cash-flows becoming company income in the future. In addition, the production process is now running more efficiently and the reduced CO2 emissions are contributing to a better environment.
This project is a good example of fast repaying investments in energy efficiency, which are beneficial for the company, decreasing bills and securing the future, for the financier that provides funding and can expect guaranteed repayment, as well as for the local community, benefitting from the continued employment.