FINTECC will support the development needs of Pharma Start LLC through the grant in the amount of 110 thousand euros. In particular, the funds will be used to cover working capital and energy efficiency measures. This will allow Pharma Start to reduce production costs, save 1200 MW of energy each year and reduce CO2 emissions to 500 tons per year.
The project includes the implementation of a new energy efficiency management system, the rehabilitation of exhaust-heat ventilation to satisfy the demand for hot water and the use of cool outdoor air for cooling. In addition, an expanded heat reconstruction of the administrative building of the company is planned. It includes installation of heat pumps for heating of premises and air conditioning.
Also Pharma Start has to purchase and install a diesel generator and configure the system of uninterrupted power supply.
LLC Pharma Start, based in Kiev, is the 8th largest local pharmaceutical manufacturer in Ukraine. It is a company of Swiss based Acino, a modern pharmaceutical company in the sphere of development and manufacturing of innovative high-tech generic medicines. LLC Pharma Start focuses on Cardio Vascular Systems and Central Nervous Systems. It has requested a loan from the Bank to support its operational restructuring and development.