COFIDES will support Thermogreen, a manufacturer of extruded polystyrene (XPS) insulation boards for thermal building insulation, in launching its manufacturing operations in France, where the company has maintained a subsidiary since 2024. Through a €1.5 million loan from the Fund for Overseas Investment Operations of Small and Medium-Sized Enterprises (FONPYME), COFIDES will finance the acquisition of machinery and equipment for what will become Thermogreen’s first industrial plant outside Spain. The project represents a total investment of nearly €16 million.
The new facility will enable Thermogreen to serve the Central European market (France, Germany and the Benelux countries) more directly and expand its customer base, further strengthening the company’s international footprint.
Headquartered in Noblejas (Toledo), Thermogreen has established itself as one of the leading players in the Spanish XPS market. The company has developed proprietary technology that allows it to manufacture extruded polystyrene boards in a variety of sizes and thicknesses using 100% recycled raw materials.
According to Miguel Ángel Ladero, Corporate Director of Investments at COFIDES, “Thermogreen’s commitment to the circular economy and energy efficiency, through a range of solutions that contribute to energy savings and emissions reduction, clearly demonstrates its dedication to innovation and sustainability—values that are fully aligned with COFIDES’ strategic vision.”
“With this new industrial facility, Thermogreen will gain access to most of the European Union market. It is also the first company in the sector to use 100% recycled raw materials, sourced from expanded polystyrene boxes previously used for the refrigerated transport of food,” said Jesús Ladera, Chief Executive Officer of Thermogreen.
ABOUT THERMOGREEN
Founded in 2019, Thermogreen is a company dedicated to the manufacture and sale of extruded polystyrene (XPS) boards for thermal insulation in buildings and other applications. The company was established by four partners with extensive national and international experience in the sector. Its operations are based on a circular economy model that promotes the use of recycled materials and the management and reduction of waste generation. Sustainability, innovation and comprehensive customer service are the cornerstones of its business model.
ABOUT COFIDES
COFIDES is a state-owned company that manages Spanish government financial instruments, as well as its own resources and those of third-party institutions, with several objectives: supporting the internationalisation of the Spanish economy, attracting foreign investment into strategic sectors in Spain, promoting impact economy initiatives in Spain, and contributing to the development of the countries in which it invests. In addition to the Spanish State, which holds a majority stake, its shareholders include Banco Santander, BBVA, Banco Sabadell and CAF – Development Bank of Latin America and the Caribbean.
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Through a €1.5 million loan from the Fund for Overseas Investment Op...
