Fernando Moreno

A leading Omega-3 supplier for 20 years, Solutex now ranks among the top five players in the segment globally.

How has Solutex developed over the past 20 years, and what are its key achievements?

We established Solutex by leveraging technology to create high-value-added ingredients primarily for the food industry. We explored various alternatives until we focused on the Omega-3 sector, initially considered as a backup plan. Having started from scratch, and without products, factories, or any infrastructure, we managed to rank among the top five global players in this ingredient segment within 20 years. Our factory in Zaragoza processes crude oil into the purest pharmaceutical products, utilizing CO2 and high vacuum technology, as the only facility globally capable of such operations. These products are distributed through our commercial offices in Canada, the US, India, and South Korea.

What have been the results of investing in the expansion of Solutex’s factory in Mallén, Zaragoza?

This project marks the fourth expansion of Solutex since its inception, with the original investment totaling EUR10 million. While we are beginning to see the returns, this investment was executed in several phases. Commencing before the pandemic, we encountered delays, but the expansion project has now concluded. Some aspects are already yielding returns, while others will do so shortly, as the factory is fully operational. The combined investments in the factory have resulted in 40% growth over the past few years. Unfortunately, in the industrial sector, investment precedes sales, thus entailing high risk.

What strategies does Solutex have to increase its presence in foreign markets?

Each geopolitical region requires a tailored strategy. The approach for the US differs from that of Europe or Asia, where further segmentation is observed, with each country having distinct characteristics. Our focus in South America centers on Argentina, Brazil, and Mexico, given their cultural appeal and the opportunities they present as relatively smaller markets.

Solutex collaborates with numerous entities. What support does the public administration provide in these joint ventures with private institutions?

Public administrations offer diverse action plans. Within the public sector, both local and European authorities play roles, each with its models and plans. Understanding the company’s innovation requirements and market demands is crucial, and this is facilitated through various programs offered by these administrations. Additionally, strict compliance with administrative procedures and guidelines is imperative, considering that public funds are subject to rigorous scrutiny.

What role does digitalization play in Solutex’s projects, and what measures are being taken to promote it?

We firmly believe that innovation stems from knowledge. Given the vast realm of scientific publications and works, AI plays a pivotal role in analyzing them.

What types of technologies or strategies have you developed to foster sustainable innovation, and what lessons could other companies learn from them?

We have prioritized green chemistry, now referred to as sustainable chemistry, utilizing CO2 technology, which generates minimal waste. Despite the chemical industry’s unjustified negative reputation, it can be clean and innovative. When engaging in chemical processes, organizational discipline is essential. Opting for sustainable and non-polluting technologies, such as CO2 utilization, aligns with our commitment to environmentally-friendly practices. Moreover, effective marketing and product design are key to successful implementation.

Solutex claims to operate sustainably and adhere to a circular economy model. Could you elaborate on this model?

The concept of a circular economy, now widely recognized, is inherent to our industry. When utilizing raw materials, energy consumption and material transformation occur. The aim is to make these operations financially viable, ensuring that all products are marketable with appropriate certifications. Waste disposal is carefully managed and responsibly treated. While this approach has long been commonplace in our industry, it is now receiving greater public acknowledgment. Sustainability, concerning resource usage and its consequences, has been a long-standing focus for us. In 2023, we devised a sustainability plan comprising three strategic axes, 10 programs, and 50 action plans, prioritizing concepts that resonate with
societal concerns.

How does Solutex ensure that its raw materials originate from sustainable fishing practices?

Ensuring sustainable fishing practices involves sourcing raw materials from certified suppliers, who adhere to sustainable practices verified through oceanic monitoring, water analysis, and port inspections. Aligning with principles of ocean sustainability, we strive to operate within natural ecosystems, adhering to stringent regulations, particularly those set forth by the EU.

Regarding the other two elements of ESG, social and governance, what progress has Solutex made in these areas?

Socially, our operations across multiple countries enable us to understand diverse social realities and needs. We uphold fair policies regarding social and labor conditions, refraining from practices contrary to our ethical standards and human rights principles. Governance-wise, our company boasts a governance board that adheres to internal governance rules, an ethical code, and policy norms approved by said board. A dedicated committee ensures compliance with regulatory requirements, including the establishment of a grievance channel in 2023. Our extensive experience enables us to maintain robust governance practices, which are integral to our business operations.

What are Solutex’s goals for the coming years?

Operating within a market characterized by a variety of chemical ingredients, essential for various applications and witnessing continuous growth, our primary goal is to meet market demands effectively. We aspire to continue delivering high-quality products globally, ensuring they contribute positively to people’s lives. Our commitment to excellence serves as both an economic and emotional reward, motivating us to maintain our trajectory of success.