TWO IRISH COMPANIES AMONG TEN INTERNATIONAL FIRMS TO WIN GLOBAL CLEANTECH AWARDS
Two Irish companies, Imperative Energy Ltd, based in Maynooth and OpenHydro, based in Dublin and Louth are among ten international companies from North America, Europe and Asia who won global Cleantech Cluster Association Awards 2011 at an awards ceremony in Dublin. Thirty finalists from all over the world competed to win the Later Stage Awards. The Irish companies were awarded Best in Biofuels and Best of Renewable Energy respectively by a panel of major international cleantech venture capitalists, investors and academics who collectively manage in excess of US$3.5 billion of cleantech investments.
Imperative Energy Ltd, based in Maynooth (Joe O’Carroll, MD) develops bio-energy projects throughout the UK and Ireland, supplying purpose built biomass plants to provide heat, and power at a client’s site. The company offers design, build, fuel supply, finance and operation services to enable their clients to benefit from low cost, low carbon energy, without any Capital expenditure. Turnover has grown by 500% in the last 12 months and the company expects similar growth in the current year. Recent contract include a 10MW biomass Combined Heat and Power plant in the British midlands, which involves a 5km district heating network and “private wire” power supply. Imperative Energy employs 10 and hopes to increase this to 50 in the next two years. Imperative Energy won in the biofuels category, ahead of Chempolis from the Finnish Cleantech Cluster and Synthezyme from NYC Acre.
OpenHydro, based in Dublin and Louth, (James Ives, CEO) designs and manufactures marine turbines to generate renewable energy from tidal streams. The company’s vision is to deploy farms of tidal turbines under the world’s oceans – silently and invisibly generating electricity at no cost to the environment. The electricity produced is completely renewable since it relies on tides. Openhydro won ahead of two other finalists; AWS ocean Energy from the ecoConnecUK cluster and NovaThermal Energy from the Clean Alliance Mid-Atlanta cluster.
The two winning Irish companies were nominated for the Awards by The Green Way – Dublin’s Cleantech Cluster. The Green Way was founded in 2010 when a number of key regional stakeholders decided to collaborate in order to spur green economic growth through the stimulation of the Cleantech sector in Dublin. The Green Way is a collaborative ‘triple helix’ cluster established by industry, academic institutions and public/semi-state, with a vision to create jobs and unlock trade opportunities, through activation and development of an internationally ecognized Cleantech cluster.
Speaking at the Awards ceremony Mr Pat Rabbitte , T.D., Minister for Communications, Energy and Natural Resources, pointed to the fact that two of the ten global winners were Irish companies and said “this is evidence that Ireland is producing world class innovative companies in the energy sector and that initiatives like the green way are giving these companies a platform from which to deliver export led growth and job creation. The key message from tonight’s Awards is that Irish cleantech companies and Ireland generally is open for business,” he said.
“Green technology represents the largest and most important economic opportunity of the 21st century for Ireland. Some of the Venture Capitalists here today are making millions and even billions from technologies and companies that barely existed six years ago”, notes Tony Boyle, CEO, The Green Way.
“The Global clean energy sector attracted a record US$243 billion in new investment last year, nearly five times what it was six years ago”, Tony Boyle continued. “In 2010 US Venture Capitalists committed more of their total investments into Cleantech than into either Pharmaceuticals or ICT. Ireland and Irish companies are well placed to benefit from these new clean technologies that are transforming how we live and do business. The Green Way is determined to play a key role in facilitating domestic and international companies looking to compete in these burgeoning markets.”
Frank Ryan, CEO of Enterprise Ireland told delegate “The Green Way is an ideal test and commercialisation location for our portfolio of export focussed cleantech companies. Through its membership of the GCCA and links with other cleantech clusters around the world, it provides an excellent trade focused platform for indigenous cleantech companies looking to access new markets.” Lord Mayor of Dublin, Andrew Montague said that “with the Green Way, Dublin now has a focussed and coordinated cleantech industry initiative that can build on the city infrastructure, assets and capabilities and allow us to compete on an international cleantech stage.”
Cleantech companies use new technology and related business models to provide resource efficient solutions to global challenges, while offering competitive returns for investors and customers.
National and international experts attended the first Dublin Cleantech Forum organised by The Green Way at The Helix, Dublin City University on Monday, prior to the Awards Dinner and discussed water innovation, renewable energy, smart cities, cleantech clusters and cleantech investing.
Ten Irish companies were originally nominated for the Global Cleantech Cluster Awards earlier this year by The Green Way, which was founded in 2010 and whose shareholders are Ballymun Regeneration Ltd, Dublin Airport Authority, Dublin City Council, Dublin City University, Dublin Institute of Technology and Fingal County Council.
The Global Cleantech Cluster Association (GCCA) links over 30 cleantech clusters globally, representing 300 universities and 4000 companies. GCCA guides cleantech companies from a compelling technology or service idea to viable business models, sustainable jobs, and attractive Return on Investment (ROI) for founders, incubators, and investors. GCCA is headquartered in Atlanta, GA and builds global coordination amongst cleantech clusters and companies. GCCA creates a conduit for next generation Cleantech companies to access global capital, networks, technologies, and markets to accelerate a global sustainable economy.
For further information: Mary Murphy: 087 233 6415