Russula engineering will strengthen its projects in the United States with the support of COFIDES, which will provide the company with a €2.7M loan. The company will invest this financing in R&D for the development of efficiency improvement and automation systems in water plants of its customers in the steel and aluminum sectors. The total investment of the project is €3.8M.
Since 2002, Russula has been present in the United States, where it offers design services and engineering and automation solutions for the steel industry, as well as water plants in the industrial sector.
COFIDES has backed Russula since 2014 in three other projects aimed to boost its investment in R&D and related to the development of software systems and artificial intelligence in its US subsidiary, with the purpose of increasing process performance and efficiency.
The corporate director of COFIDES' Investment Department, Miguel Ángel Ladero, highlighted that "it is very satisfying to walk together with Russula in its international growth, as well as helping to strength its expansion.” In his opinion, this new project "will allow Russula to continue advancing in the creation of solutions that optimize efficiency and automation in its customers' plants, an essential step for the improvement of industrial processes and sustainability in the global industry.”
Russula's CEO, Eva Maneiro, pointed out that "this funding is very important as it allows us to continue investing in R&D and always looking for innovative solutions to build a more efficient and environmentally friendly industry."
This operation is remarkable by its contribution to Sustainable Development Goal 12, as the technology provided by Russula allows the reuse of water from the steel plants it builds, therefore facilitating considerable savings.
ABOUT RUSSULA
Russula is a global engineering company, a leader in the steel industry, specializing in rolling mill processes and water treatment solutions. With over 35 years of experience, it offers a comprehensive range of services aimed at its partners’ transformation into high-performance companies, tackling the increase of their productivity, reducing operating costs and CO₂ emissions, optimizing energy consumption, and improving the efficiency of their plants.
Being present in more than 35 countries and a fruitful collaborator of major steel and aluminum producers around the world certify its ability to handle complex and innovative projects on a worldwide scale.
ABOUT COFIDES
COFIDES is a state-owned trading company that manages state funds, as well as its own resources and those of third-party institutions. COFIDES's mission is to support the internationalization of the Spanish economy, attract foreign investment into strategic sectors in Spain, promote the impact economy, and contribute to global economic development. COFIDES is also instrumental in strengthening the solvency of Spanish companies, particularly in response to challenges such as the COVID-19 pandemic. COFIDES’s shareholders include the Spanish State, Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF-Development Bank of Latin America.
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