Supporting agritech exports to Ukraine
We helped Legume Technology manage its payment risk when the private sector was unable to offer cover.
| About the transaction: Legume Technology | |
|---|---|
| Region | Nottinghamshire |
| Sector | Agritech - inoculants |
| Export destination | Ukraine |
| UKEF support | Export insurance |
Nottinghamshire-based Legume Technology manufactures a range of specialist fertilisers using natural bacteria to replace chemical fertilisers for pulse crops. The company has distributors throughout Europe, Africa and North America.
One country where orders for its products have been increasing steadily is Ukraine. The company wanted to increase its business further to distributors covering Ukraine’s soy bean sector and wanted to insure against the risk of non-payment. However, it was unable to obtain cover from the private sector due to the unstable political situation in the country.
We’ve worked with the company to issue export insurance policies that cover the non-payment risk on its fertiliser exports.
Dr Bruce Knight, Managing Director, Legume Technology, said:
The help we received from UKEF gave us the confidence to put time and money into stock for Ukraine. This has given us both security for our current employees and the confidence to increase production capacity.
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