BIOVET is a leading European manufacturer of nutritional feed additives for animal health, intermediates for the human pharmaceuticals industry, as well as 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 vital role in the local communities, supporting own 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 the analysis of investment, primarily the potential of energy savings and technical-financial parameters.
The energy efficient measures included installation of the variable speed drives at 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's income further on. In addition, the production process is now running more efficiently and the CO2 emissions are contributing to the better environment.
This project is a good example of fast repaying investments into energy efficiency, which are beneficial for the company, decreasing own bills and securing own future, for the financier that provides funding and can expect guaranteed repayment, as well as for the local community, benefitting from the continued employment.