Promprylad.Renovation: the most successful impact investment project in Ukraine has started the next stage of attracting investment - Promprylad. Renovation

Promprylad.Renovation: the most successful impact investment project in Ukraine has started the next stage of attracting investment

More than $5 mln of attracted investment, 425 investors, 16% of the project  implemented and 25 residents. The next stage of attracting investment in Promprylad.Renovation begins on July 7.

This was stated in a video message to current and potential investors from project leader Yuriy Fylyuk. According to him, the previous stage of investment, which ended in December 2019, was marked by success in attracting funds from investors for Promprylad.Renovation: the total investment in the development of the project amounted to more than $5 mln investment, and another $760k grant funds were raised for the development of social infrastructure. 

At the moment, the next stage of the project implementation begins, which envisions a complete reconstruction of the plant with an area of 28k sq. m and constructions of more than 10k sq. m of development infrastructure over the next three years.

«Our mission in this project is to create a great social effect for the city, region and country, as well as economic value added for investors»  – said CEO and initiator of the project Yuriy Fylyuk.

According to Yuriy, as of today the project has already brought together 425 co-investors and 32 partners, including the following organizations and foundations: governments of Sweden, Canada, SRI International (Stanford Research Institute), CANactions, Renaissance Foundation, Robert Bosch Foundation, BMW Foundation, Impact Hub Odessa, Ivano-Frankivsk City Council.

«In January 2020, we bought the plant. We reconstructed the first 6k sq. m of premises where startups, businesses, art, educational and urban projects are already working and developing. Despite the pandemic and its economic consequences, we are actively developing even during this period. During the last three months, new projects have been launched at Promprylad, in particular, the R&D center of ecological clothes Framiore and the makerspace Open Workshop.

In June 2020, the first revaluation of Promprylad.Renovation assets was performed according to international standards, which recorded that capitalization of the investment project during 2019-2020 increased by 21%. And this is against the background of the general economic downturn in the country,» Yuriy Fylyuk commented on the results of the project.


About Project

As a reminder, Promprylad.Renovation is a project that transforms an old plant in the center of Ivano-Frankivsk into a center of the creative and innovative economy of the region. According to the investment plan, it is planned to attract more than UAH 700 mln to the project, completely re-equip 4 plant buildings, build two new buildings, and create a park by 2024. At the final stage, the area of ​​the center will cover more than 37k sq. m. This is a project in the field of impact investment, where investors simultaneously invest in the social impact on the region and receive a return on investment in the form of dividends. As of today, the project has already raised more than UAH 130 mln from 425 investors, in particular, international organizations, companies and private investors. About 16% of the plant’s space has already been revitalized: a pilot floor has been launched to test hypotheses and test the reconstruction process. In total, 25 organizations and resident companies are already operating in the project.

The Atlantic Council called it «Ukraine’s most impressive civil society project», the UN Partnership For Sustainability Award recognized Promprylad as the best in the category of «Economic Development». The project also enjoys wide international recognition: it was presented in Davos, Stanford, Oxford, the House of Lords of the United Kingdom. Being officially supported by the governments of Canada and Sweden, Promprylad has dozens of international partners and investors.



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