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23/04/2012
Cellulac Wins €2.8 From EU Commission For Biorefining Project
Galway based greentech company, Cellulac, has been approved for a record €2.8m grant from the European Commission to commercialise its biorefining technology that converts agricultural waste into lactic acid.
Cellulac is a high-potential start up client of Enterprise Ireland which supported the company in its bid for this significant grant. Lactic acid is used in food and beverages, cosmetics, pharmaceuticals, biodegradable plastics and other industrial sectors. It is a growing €4Bn pa market and is expanding at a rate of 19% per year.
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. Possible locations for the demonstration plant - where lactic acid will be produced at an industrial level with the goal of licensing the technology world wide – are currently being scouted in Ireland and the EU.
Cellulac will create 14 high quality jobs and will be recruiting graduates from the life sciences and engineering sectors to grow its research base in Ireland.
(CD/GK)
Cellulac is a high-potential start up client of Enterprise Ireland which supported the company in its bid for this significant grant. Lactic acid is used in food and beverages, cosmetics, pharmaceuticals, biodegradable plastics and other industrial sectors. It is a growing €4Bn pa market and is expanding at a rate of 19% per year.
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. Possible locations for the demonstration plant - where lactic acid will be produced at an industrial level with the goal of licensing the technology world wide – are currently being scouted in Ireland and the EU.
Cellulac will create 14 high quality jobs and will be recruiting graduates from the life sciences and engineering sectors to grow its research base in Ireland.
(CD/GK)
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