Biomass Heating Solutions Ltd (BHSL) has announced the appointment of Denis Brosnan as chairman of the company. Brosnan, a former CEO of Kerry Group, will be joined on the company board by new non-executive directors Padraig McManus, the former ESB boss; retired Supreme Court judge Fidelma Macken; veteran corporate financier David Hickey; and Limerick businessman Tom Lynch.

BHSL has developed a patent-protected system to convert poultry manure into a fuel for energy generation on-farm. The company is now seeking to raise over E7m in fresh equity to increase the company’s sales presence globally and extend its R&D spend to combust other materials such as industrial waste and spent mushroom compost.

BHSL has appointed corporate finance firm, Focus Consulting, to lead the capital raise.

Managing director Declan O’Connor commented: “The European Union’s 2014 authorisation of the use of poultry manure as a fuel is acting as a key catalyst driving interest in our technology from large-scale poultry producers across Europe, with similar regulatory changes supporting the opportunity in the US and other markets.”

In July, BHSL announced a $3m pilot project with the State of Maryland to trial its technology. Its system is operational on two UK farms with further installations anticipated in 2016.

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According to the company, a €2.5m investment in its technology by a typical broiler farm (with 380,000 birds per flock), can yield annual savings of €830,000 per annum over heating using traditional fossil fuels.

In August 2015 BHSL received €15.9m equity investment. €8.6m was invested by Delaney and Frances Ltd, registered in the British Virgin Islands, and  €7.3m was invested by Biomass Loan Note Nominees Ltd.

The company booked a loss of €2.5m in 2014, and year-end accumulated losses stood at €9 million.

Photo: Denis Brosnan (left) at the BHSL facility in Kantoher, Co Limerick.