The investment and recognition given by the Bulgarian state-owned fund is a boost towards our expansion strategy to the Middle East and the United States. A dedicated part of the funds will be utilized in Research & Development for new renewable technologies, which is the only guarantee for keeping competitive advantages on the international market.
“I am very proud and thankful for the confidence the Capital Investments Fund has expressed in IPS. The investment and support of the Bulgarian state-owned fund is going to significantly improve our current market presence in the Kingdom of Saudi Arabia and the United States”, said Alexander Rangelov, IPS’s Chief Executive Officer.
Despite the current economic crisis that the world is facing due to the global pandemic, IPS has demonstrated its resiliency by providing quality and on-time delivery to all its customers and partners. This proven resiliency has reaffirmed the confidence of our shareholders in the mission of IPS.
In the name of the management and all employees, we welcome CIF to our family.
About Capital Investments Fund
Capital Investments Fund is the investment arm of the state-owned Bulgarian Development Bank (BDB), which provides growth equity for high-tech companies with global market potential, that can bring high added value to the national economy. BDB is a financial institution established in 1999 with focus to support the economical development. It is among the top four Bulgarian banks in terms of credit rating.