Novelplast Teo, an Údarás na Gaeltachta client company located in Co. Meath, is part of a group of organisations undertaking research with the objective of transforming the plastics industry.
In partnership with Athlone Institute of Technology, AvonCourt Packaging Ltd, National University of Ireland, Cork, Novelplast will form an integral part of this disruptive technology project which aims to drastically reduce the petroleum extracted virgin material used in the plastics industry and positioning PET (Polyethylene terephthalate) recyclate as a valuable, perpetually reusable resource.
Funding of €1.89m has been approved under the Disruptive Technologies Innovation Fund announced by the Department of Enterprise, Trade and Employment. The €95m fund for Disruptive Technologies which will be invested in the successful projects run by various businesses and education and research institutes over the next three years. The purpose of the Fund is to drive collaboration between Ireland’s world-class research base and industry as well as facilitating enterprises to compete directly for funding in support of the development and deployment of disruptive and innovative technologies.
Novelplast Teoranta was established in the Baile Ghib Gaeltacht in Co. Meath in 2017. The company has seen huge growth ever since with 25 people employed there at the end of 2020. The company manufactures PET (polyethylene terephthalate) pellets/chip directly from industrial offcut filament and fibre material from PET manufacturing facilities. They provide solutions and technologies to recycle plastic material, with sustainability in mind to create a better environment for future generations.
Speaking about the announcement of the fund Údarás na Gaeltachta’s CEO Mícheál Ó hÉanaigh said:
“It is central to Údarás na Gaeltachta’s strategy that we develop and support businesses that are based on innovation in Gaeltacht areas and this is an excellent example of the type of industry that is developing new technologies and work practices to ensure their future sustainability and ability for growth.”