The European Investment Bank (EIB) has announced it has made a substantial commitment of €75 million (US$82.19 million) to the Danish bioscience company, Chr. Hansen Holding A/S, according to Reuters.

 

Chr. Hansen has been a producer of natural solutions to be used in the food, agricultural, and pharmaceutical industries, and also supplies food cultures, including live bacteria, yeasts, molds, probiotics, and enzymes, to be used in the production of a wide range of food products and animal feed.

 

The funds are being provided to fund the company’s development of cutting edge bacterial solutions for the food industry, such as meat cultures that are lower in sugar, salt, fat and have a longer shelf-life, reports Global Meat News.

 

The company’s research and development initiatives, which are expected to last until 2018, will be conducted at its state-of-the-art facilities in Horsholm, Denmark, and in Saint-Germain-lès-Arpajon, France.

 

Jan Vapaavuori, vice president for Danish operations with the EIB, said in a statement published December 14, “Supporting research, development and innovation with an important health impact is a key priority for the European Investment Bank, so we are glad to be supporting Chr. Hansen’s development of high-value added food products,” reports Global Meat News.