Biomass CHP develops technologies that convert wood chippings into biogas, which is used to generate heat and electricity for industrial and civic use.
The innovative modular unit being developed by Biomass CHP will produce no effluent waste, typically a common problem with existing wood to gas systems.
In addition to R&D support from Invest NI, part financed by the European Regional Development Fund (ERDF), Biomass CHP has also secured support from Clarendon Fund Managers and the company’s board members.
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Individual business angels, including some from the Halo Business Angel Network, have also offered financial assistance.
Invest NI’s Director of Innovation Carol Keery said: "Through this investment, Biomass CHP will be able to demonstrate the commercial viability and efficiency of an innovative sustainable energy generator.
"Combined with the added value of the company’s own leading-edge gas cleaning technology, Biomass CHP has already projected significant export market potential for this new product."
Ms Keery called on local firms to participate in Invest NI’s forthcoming Energy & Environment Conference 09.
The free event will take place on 14 October and over 600 companies are expected to attend, share knowledge and hear from industry experts.
Ralph Pickles, Chairman of Biomass CHP, said: "There is a growing worldwide need for new ways to effectively produce sustainable forms of energy.
"We believe that our new system can address that need and help customers to meet legal requirements in relation to carbon dioxide targets."
"Our main customers will be businesses which tend to use energy in their manufacturing processes, as well as large offices and civic establishments such as leisure centres," added Mr Pickles.
(PR/KMcA)
