TYRONE manufacturer Waste Systems is set to grow its sales in overseas market after receiving a £1 million cash injection.
The company designs and makes advanced waste management systems at its Plumbridge headquarters.
The boost has come the Bank of Ireland Kernel Capital Growth Fund designed to help small and medium firms in the north accelerate growth.
Equipment made by Waste Systems helps to generate materials of commercial value, allowing companies to reduce landfill costs and secure revenue streams from valuable recovered materials.
The firm, which has a team of 20 already exports across Europe and North America.
Earlier this year, it entered into a major distribution agreement with UK distributor EPS and is currently working on a similar agreement with a leading US distributor.
Company founder Nishi Ward said: "The demand for innovation across the waste recovery sector which is being driven by legislative changes and the increasing cost of landfill tax in the UK for unsegregated waste has positioned us as a key player within this global market.
"This investment from Kernel Capital will enable us to create further employment in Northern Ireland and to grow and scale our company, as we enter new markets and increase our global sales.”
Allen Martin from Kernel Capital said Mr Ward had "recognised the emerging trends within the waste sector and has developed a suite of novel products that align with the growing legislative backdrop that is focused on the recycling of waste materials".
"We are impressed with the milestones that Nishi and his team have met in a short period of time," he added.
Gavin Kennedy, head of business banking in the north for Bank of Ireland UK added: "Innovating, scaling and exporting are vital to sustainable business growth in Northern Ireland, which is why we are delighted to see this investment in Waste Management Systems, an innovative company within a key sector with a strong focus on international markets.”
