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23/04/2012
Record Grant Awarded To Galway Green Technology Start-Up
14 new high-end jobs will be created at Galway greentech company, Cellulac, following the approval by the European Commission of €2.8m grant.
The grant, a record payment from the EC, has been awarded to the start-up business to commercialise its biorefining technology that converts agricultural waste into lactic acid, which is used in food and beverages, cosmetics, pharmaceuticals, biodegradable plastics and other industrial sectors.
The investment will fund 14 posts and the recruitment of graduates from the life sciences and engineering sectors.
Fin Murray, chief executive, said: "This win and our confidence that Cellulac will be filling key R&D roles locally is a testament to the investment poured into the development of the life sciences and green tech sectors over the last number of years."
The EU grant approval, which will anchor a consortium of funding from State, institutional and private investors, will be used to prove mass production capability. Its application was supported by Enterprise Ireland.
(H)
The grant, a record payment from the EC, has been awarded to the start-up business to commercialise its biorefining technology that converts agricultural waste into lactic acid, which is used in food and beverages, cosmetics, pharmaceuticals, biodegradable plastics and other industrial sectors.
The investment will fund 14 posts and the recruitment of graduates from the life sciences and engineering sectors.
Fin Murray, chief executive, said: "This win and our confidence that Cellulac will be filling key R&D roles locally is a testament to the investment poured into the development of the life sciences and green tech sectors over the last number of years."
The EU grant approval, which will anchor a consortium of funding from State, institutional and private investors, will be used to prove mass production capability. Its application was supported by Enterprise Ireland.
(H)
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