Throughout the year, the public company has supported start-ups, SMEs and large corporations, combining strong investment activity with successful divestments totaling €12.5 million, which generated capital gains of €3.7 million.
Overall, the Board of Directors authorised financial support exceeding €33 million. Within this framework, Navarre-based companies such as Ubyko, Telum, Dynamobel, Fuvex, Artain25 (formerly Lorpen), Kakuru Sam, Opportunity Health and Medibiofarma, among others, received Sodena’s backing this year, while support for companies such as Grupo Iruña, Saprem, Velites and Mapsa is still pending execution.
This overall figure includes €8.5 million across 226 financing transactions facilitated through renewed agreements for the provision of guarantees in collaboration with the mutual guarantee societies Elkargi and Sonagar, as well as €2.8 million in commitments to investment funds. The latter include the two so-called “rooted funds” (fondos arraigo) — Stellum Growth and Nazca Capital — in addition to other sector-focused funds linked to the agri-food industry and the energy transition. It is also worth highlighting the positive results achieved in divestment operations in companies such as Nabrawind Technologies, Solaris Bus & Coach and Abanza.
Beyond the strictly financial sphere, 2025 was also marked by intense activity in attracting business projects from outside Navarre and supporting companies already established in the region. Notable initiatives included missions to China; progress towards the start of electric battery production and assembly by Mobis; efforts to promote the reindustrialisation of Tenerías Omega, in collaboration with Inpelsa; analysis carried out with the Navarra Investment Plan (PIN) on the impact of U.S. tariff policy on Navarrese companies; and support for Volkswagen Navarra in its transformation process towards electrification. With the aim of consolidating investment, anchoring economic activity and strengthening quality employment, Sodena once again deployed its aftercare programme for companies whose decision-making centres are located outside the Foral Community.
The year was also characterised by initiatives linked to regional strategy development, sustainability and the circular economy. Particularly noteworthy was the mid-term evaluation of Navarra’s Smart Specialisation Strategy (S4), which delivered encouraging results across all assessment criteria, as well as the hosting of the Cluster Meets Regions event, which positioned Navarre as a European reference point for debate on the role of regions and clusters in the future of industry.
Meanwhile, the public-private initiative Navarra Zirkular, promoted by Sodena and now involving 253 member entities and 51 collaborating organisations, continued to roll out its action plan and expand personalised support for Navarrese companies. In parallel, the European ECIV project, coordinated by Sodena in Navarre, defined common challenges among regions and will launch cascade funding for interregional collaborative projects before the end of the year.
In line with the mandate received from the Government of Navarre, Sodena has also begun analysing four new industrial sectors and niches with high growth potential. In the aerospace sector, a sector catalogue has been developed covering key companies and offering a clear overview of their capabilities, specialisation and outlook. In the electronics sector, companies and stakeholders have been identified within an industry with a solid infrastructure, albeit concentrated in a limited number of firms.
At the same time, Sodena has continued to coordinate BioSintNA, the business development plan for synthetic biology in Navarre, launched in 2024 and scheduled for completion in 2026. This initiative aims to consolidate the Foral Community as an international benchmark hub in bioeconomy, a potential clearly demonstrated by its strong presence at BioSpain 2025. Finally, progress has also been made in the field of industrialised construction, through support for industrial investment and the creation of an innovation and in-house product R&D culture within the sector.
Looking ahead to 2026, Sodena is already working on the launch of new financial instruments linked to the achievement of socio-economic impact indicators in Navarre. It will also strengthen the integration of sustainability and the circular economy across all its services — including the implementation of Green Assist advisory services to embed an environmental perspective in all areas of activity — continue to drive the deployment of the S4 strategy, and further enhance its foreign investment attraction tools.
Iñaki Larraya Garayalde
Managing Director of Sodena
Contribution by Sodena to the Noticias de Navarra special feature
“Navarre in the 21st Century – Objective 2026” – 23 December 2025
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