Agri-environmental digester provider Harp Renewables has secured €750,000 in funding from the Davy EII Tax Relief Fund 2015. The 2013 startup said that the funding will be used to capitalise on growth opportunities for its aerobic and anaerobic digester products and services.

Meath-based Harp Renewables provides products and services in the environmental sector, including biomass applications, BioNova organic waste digesters and the production of biogas using anaerobic digestion. In July 2015, the company secured a five-year licence agreement to manufacture and sell BioNova aerobic digesters, which transform organic or agricultural waste into energy products like biogas, and by-products such as compost.

The company has identified significant growth opportunities for these and the EII funding will assist in developing these opportunities.

CEO Shane Finnegan said: “We are delighted with the funding we have received, and believe that this investment is a testament to the quality of our products and services.  Our biomass solutions, organic waste digesters and anaerobic digestion systems can provide viable, efficient and sustainable energy alternatives that are needed by many industries.”

The Davy EII Tax Relief Fund is managed by BES Management Limited, a joint venture company owned by Davy and BDO. This year is the fifth Davy Ell fund, and overall BES Management has invested over €154m in over 154 Irish companies over 21 years.

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Sinead Heaney of BDO said: “Harp Renewables has a strong track record. Its innovative products, international growth opportunities and capable management team present an excellent example of the type of companies the Davy EII Fund seeks to invest in. We look forward to working with the team over the coming years to assist them in achieving their business goals.”

Photo: Harp Renewables owner Shane Finnegan and Sinéad Heaney, BDO Ireland (Pic: Barry Cronin)