The Kedco Group plans to invest between €10 million and €12 million over the next 18 months on a new system that converts waste to electricity.
The company has the sole Irish licence for a new technology called the Bekon system, which uses organic and agricultural waste to create electricity and heat.
Kedco has built up a business over the past three years supplying heating systems to industry and homes which use waste wood and wood chippings.
According to chief executive Richard Kennedy, the company is planning to cash in on the growing demand for renewable energy by selling the system in Ireland with joint-venture partners. He said the business was close to agreeing partnership deals with two other companies, which he said he was not in a position to name yesterday.
Each Bekon unit uses a minimum of 8,000 tonnes of waste and can produce 500 kilowatts of electricity an hour. It also generates heat, which can be sold to industry, and compost suitable for use on farms. The system uses most forms of organic waste, according to Mr Kennedy.
EU regulations oblige member states to cut the amount of waste going into landfill sites to 35 per cent of their 1995 levels by 2016, which means most organic waste will have to be recycled.
