Biomass Heating Solutions, run by brothers Jack O’Connor and Declan O’Connor (pictured), has received some serious equity investment for their venture, which started exploring how to generate energy from poultry droppings in 1998.

From 2007 to 2014, the company, advised by Knocknagore Capital, raised €1.7m from BES/EII investors, and Biomass commissioned its first commercial plant in Kinsale in 2009. Accumulated losses stood at €6.5m at the end of 2013, financed by €4.1m in equity capital and loan notes of €6.9m.

In August 2015 Biomass Heating Solutions received €15.9m equity investment. €8.6m was invested by Delaney and Frances Ltd, registered in the British Virgin Islands, with the €7.3m invested by Biomass Loan Note Nominees Ltd. Investor confidence has been boosted by a 20-year agreement deal with Cargill to convert poultry manure to energy at two factory farms in the UK.