Irish greentech firms seeking €15 million

INVESTMENT FUNDING IN THE SECTOR:AS RECENT data from Dow Jones Venturesource and New Energy Finance confirms a rise in global venture capital investments in clean technology during the second quarter of this year, several Irish companies in the greentech and cleantech sectors are seeking to raise more than €15 million in funding.

Cork-based SCFI, whose waste disposal technology generates electricity from sewage sludge, is seeking to raise €10 million in second-round funding.

Led by qualified chemist and serial entrepreneur John O’Regan, the firm has raised €2.5 million to date and has already signed its first agreement to build a 100,000 tonne capacity plant in Italy.

The firm’s patented AquaCritox process is based on super critical water oxidation and can be used on sewage sludge, paper sludge and food waste. The heat it generates can power one of its plants, while typically exporting 5MW of electricity every hour – enough to power up to 4,000 homes.

The second firm seeking investment is Kilkenny-based Treatment Systems, an engineering design and installation specialist in the water and wastewater sectors.

Having completed 200 projects in Ireland and internationally to date, the firm is in the process of engaging a joint venture partner in the Middle East and setting up an office there.

Thirdly, Mayo-based SELC, short for Superior Electronic Lighting Controllers, is seeking €5 million in funding.

Led by chief executive Sean Noone, the firm claim’s its intelligent street lighting controllers cuts street lighting costs, energy use and associated emissions by 40 per cent.

Its technology has been used in Phoenix, Arizona; in Milton Keynes in the UK; and in Oslo, where 6,000 of its light controllers were installed.

These allow street lights to be dimmed when there is no traffic or pedestrians around, for example. SELC has investigated the possibility of allowing local authorities to integrate advertising screens as well, and its technology can also be controlled and monitored through Google Maps.

All three companies, along with others, will be pitching for investment at Enterprise Ireland’s International Investor Forum in London in November.