Irish agritech business Biomass Heating Solutions Limited (BHSL) has raised €7 million in new equity from a number of high-net-worth individuals. It has also acquired wastewater and effluent treatment company Hydro International for an undisclosed sum.

The Limerick-based company, which has pioneered a unique method for using poultry manure as an energy source, previously raised €5 million in a fundraising round last year to support its growth plans.

BHSL founders Jack and Declan O’Connor are finalists in this year’s EY Entrepreneur of the Year awards.