ESB Novusmodus, the ESB's cleantech and renewable energy fund, is to invest €2.5 million in SELC, a Mayo-based company which develops and manufactures electronic lighting controls and photocells.
The capital will be used to develop the international business and increase the production capacity of the company.
SELC's patented electronic digital ballasts, are used in the operation of external lighting, particularly street lighting. They enable cities, councils and municipalities to reduce dramatically both carbon emissions and energy costs by controlling the lamps more efficiently and allowing for the remote monitoring and dimming of lights.
SELC is well placed to take advantage of the shift towards efficient street lighting in what is a very large global market, further aided by current environmental legislation in Europe and the US.
Minister for Energy, Communications and Natural Resources, Eamon Ryan said that the €2.5 million investment in SELC is welcome news for the Co Mayo company and shows real confidence in the company's products and ability.
"The world wants green products and SELC can provide them. It is further evidence of how we can help the economy as we help the environment," the Minister said.