Digital and green transition in the cosmetic industry
Name of the project: Digital and green transition in the cosmetic industry
Short description of the project: On 26.11.2021. the company Olival doo signed with the Ministry of Economy and Sustainable Development and the Croatian Agency for Small Business, Innovation and Investments, the Agreement on the allocation of grants for the purpose of implementing the project named "Digital and green transition in the cosmetic industry" , contract reference number KK.11.1.1.01.0349. The implementation of the project was co-financed through OP Competitiveness and Cohesion 2014-2020. from the Recovery Aid for Cohesion and European Areas instrument "REACT-EU".
The company Olival is engaged in the production of natural cosmetic products. Cosmetic products are created with their own formulations using raw materials of natural origin. The products are made on the basis of the so-called "green chemistry" in the framework of which attempts are made to prevent or reduce the negative impact on the environment in all stages of the creation of the product, from its design and production, through use to final disposal. Artificial colors and fragrances are avoided in production, and all products are created without unnecessary packaging and microplastics. Natural cosmetics is a current trend in the world of cosmetics, and in recent years there has been an increasing demand for this type of product. In order to attract new customers and retain the interest of existing ones, constant research into new possibilities of using natural ingredients, investment in the development of new recipes and the design of attractive packaging are necessary.
Objectives of the project: The implementation of the project will enable an increase in sales revenue, an increase in export revenue, the creation of new jobs, expansion of the capacity of laboratory and warehouse spaces, as well as space for the production of new products. Investing in the expansion of the production and business facility and in the heat pump leads to a reduction in CO2 emissions and an increase in the use of energy from renewable sources. Investing in the purchase of laboratory furniture leads to expansion of the capacity of laboratory and storage spaces in the production process. This will enable the company to create and test a greater number of new products that will fully meet the needs and demands of the market for natural cosmetics.
Expected results of the project:
- Increase in sales revenue
- Increase in export income
- Creation of new jobs
- Expanding the capacity of laboratory and storage spaces
- Increasing the use of energy from renewable energy sources
- Reduction of CO2 emissions
- Reduction of waste in the production process
Total value of the project: €2,827,078.40
EU co-financing of the project: €995,421.06
Project implementation period: 30.09.2021. until 30.12.2023.
Contact person for more information: Igor Novak, e-mail: email@example.com, phone: + 385 91 123 1264
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