Congratulating Cellulac on its win, Seán Sherlock T.D. Minister for Research & Innovation said; “The size of the EU Commission grant for the Cellulac project indicates the high-commercial potential of the finished product – Lactic acid and the importance of biorefining as a future growth industry. I am delighted to see one of Enterprise Ireland’s high-potential start-up clients make such a strong impression in this EU initiative, which seeks to bridge the gap between research and the market. Both the Irish Government and the EU Commission are encouraging SMEs to convert good ideas for innovative products, services and processes that protect the environment into fully-fledged commercial prospects so I am particularly encouraged by Cellulacs’ success”.

Speaking about the EU grant approval Fin Murray, Cellulac CEO said; “This win and our confidence that Cellulac will be filling key R&D roles locally is a testament to the investment poured into the development of the life sciences and green tech sectors over the last number of years. GMIT, NUI Galway and the Technology Centre for Biorefining and Bioenergy supported by Enterprise Ireland and IDA Ireland, will prove to be key supports for greentech companies like ours”.

Murray continued, “We would like to publicly recognise the support of Enterprise Ireland to date. We are actively fundraising at the moment and are interested in hearing from potential investors with domain knowledge or potential partners that have a stake in this exciting new industry.”

Enterprise Ireland’s CIP Eco-innovation National Contact Point Mark Sweeney said “We are delighted with this success for an Irish company under the CIP Eco-innovation Programme. The 2012 call is open soon and we are actively looking for companies with innovative products and processes that reduce environmental impacts”.

Any interested companies should contact mark.sweeney@enterprise-ireland.com  for more information.”