Colin Morgan, the former boss of Setanta Sports and Quinn Insurance, has popped up in a new wind energy venture whose backers include Eddie Hobbs.

Morgan is chief operating officer of Airsynergy, which reckons it can double the efficiency of any wind turbine. The company has raised close to €5 million in financing and will officially launch this month.

Morgan and Jim Smyth, Airsynergy's founder and chief executive, gave us a sneak preview during the week. It was set up in 2008 and has been in R&D mode since, but a full commercial launch is imminent.

Airsynergy’s technology is a circular shroud that sits around the spokes of a turbine, making it look a little bit like an alloy wheel. Without getting too wonkish, it funnels the air to make the turbine spin faster, generating, they say, twice as much electricity at high speeds. It adds 20 per cent to the capital cost, but they claim the electricity is half the unit cost. It plans to licence the technology, which has a global patent, to turbine manufacturers in Germany, the US and the UK. It is close to sealing its first deal with a small-scale manufacturer stateside. It is also in talks with local authorities here to attach its kit to streetlights. A turbine fitted with the shroud is installed on a testing site in Sligo, where the results will be validated by the giant GL Group.

I wonder what Morgan thinks of the €1 billion row between PwC and his alma mater, Quinn Insurance? There’ll be no shortage of hot air there.