SEI to Support Green Business Innovation in Ireland through New Incubator Programme

Media Information
12 October 2007

New support scheme launched for ventures in sustainable energy sector

Sustainable Energy Ireland (SEI) has today launched an Incubator Programme for emerging green business opportunities in the sustainable energy sector. The Programme is intended to encourage innovation in the sustainable energy sector, by supporting new small ventures focusing on clean energy technologies and services in Ireland. The development of innovative new businesses in the sustainable energy sector has been identified as a key priority by the Government and the programme is part of SEI’s work to support this.

The Programme has been designed to help new businesses bridge the financing gaps that often hamper the growth of small companies. Venture support is available towards incubation fees and activities including the development and mentoring of management and training.

Under the first phase of the programme SEI has awarded financial supports to four sustainable energy companies. These are:

• Renewable Power Generation which develops and operates wind powered electricity generation plants on industrial sites and resells the electricity back to the site owner.
• AirEn Services Ltd which is engaged in the development of alternate uses for on site wind generated electricity such as CCTV camera systems for remote sites with no electrical supply, GPS monitoring equipment for fright containers, lighting for public spaces and motor-ways  etc.
• ApEnvEcon which provides technical advisory services in environmental economic analysis, energy and environmental modelling, policy instruments, policy analysis and evaluation, and in the areas of sustainable energy use, transportation, air quality, and climate change.
• Eirzyme which has developed a proprietary enzyme technology, offering the potential to make the production of ethanol from renewable biomass feedstocks commercially viable.

Minister for Communications, Energy and Natural Resources, Eamon Ryan T.D., is committed to ensuring Ireland becomes the centre of a global “green energy boom” by encouraging an energy industry in Ireland in order to create the jobs of tomorrow. Commenting on the launch of the Incubator Programme, Minister Ryan said, “Encouraging investment and new employment in the sustainable energy sector is a key priority for Government. The Sustainable Energy Incubator Programme will help new Irish businesses establish themselves in these high-growth markets.  This kind of approach is very important for delivering future economic growth in Ireland.”

David Taylor, Chief Executive, SEI,  commented, “The Government’s White Paper on Sustainable Energy sets ambitious targets for moving Ireland towards higher energy efficiency and an increased use of renewable energy sources. SEI is delivering a suite of services to help deliver these targets. Our Sustainable Energy Incubator Programme will foster innovative companies that can move the economy along the path to sustainable energy, enhance national competitiveness and position us for new strategic opportunities in the future.”          

SEI has identified five areas to be prioritised within the programme, including Bioenergy, Ocean Energy, (Industrial or Commercial), Energy Efficiency, ‘Smart’ Buildings and Sustainable Transport. 

Editors Notes:

About SEI
Sustainable Energy Ireland (SEI) is the statutory authority charged with promoting and assisting the development of sustainable energy. SEI is funded by the Irish Government under the National Development Plan, with programmes part-financed by the European Union.

Please click here to download a copy of this press release. (PDF, 44KB)