Invest Northern Ireland Gives Local Firms the 'Green Light' For Profit

Sep 23, 2004

Invest Northern Ireland’s Green Technology Initiative is giving a large number of small to medium sized enterprises (SME’s) across the region the opportunity to increase their profit margin and help protect the environment.

Under the initiative any company which has been operating in Northern Ireland for over a year and has fewer than 250 employees, can apply for an interest free loan of up to £50,000 to invest in technologies that will help create clean manufacturing processes.

Tracy Meharg, Managing Director of Innovation and Capability Development Services with Invest NI commented:

“The Green Technology Initiative has two core functions; to encourage companies to reduce waste in their manufacturing processes and to help them become more efficient and competitive.

“The interest free loan is about making manufacturing processes cleaner and more efficient. This has lead to significant savings for the companies involved and has the potential to open up new product growth and employment opportunities.”

Among the growing number of companies across Northern Ireland currently benefiting from the initiative are:

§ Charles O’Doherty based in Strabane which has purchased a machine to convert wood waste into animal bedding, thereby significantly reducing waste disposal costs.

§ Springfarm Architectural Mouldings Ltd. based in Antrim which has secured a loan to install a CHP plant to burn excess MDF and generate power.

§ Grease Trap based in Magherafelt which has received a £21,000 loan to buy specialist recycling equipment for waste food products.

“Invest NI welcomes company enquiries to this initiative and is prepared to consider all reasonable applications. Demonstrating responsibility towards the environment is, in a very real and practical sense, demonstrating responsibility for the long term health of your business,” continued Ms.Meharg.

For further information regarding the Green Technology Initiative contact Invest NI on 028 9262 3279.

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