'A strong example of how collaboration can drive real economic impact': Shared Island grants boost three Northern Ireland businesses
O&S Doors, Capper Trading and Cemcor are among six companies receiving support to invest in decarbonisation and renewable energy projects
Three Northern Ireland companies are among six businesses across the island to receive funding under the €20 million Shared Island Sustainability Capital Grant scheme.
The awards were announced by Taoiseach Micheál Martin alongside Minister for Enterprise, Trade and Employment Peter Burke and Northern Ireland Economy Minister Dr Caoimhe Archibald.
The scheme supports firms undertaking capital projects that integrate sustainable technologies to help decarbonise industrial operations. It is funded through the Government of Ireland’s Shared Island Fund and forms part of the €30 million Shared Island Enterprise Scheme delivered by InterTradeIreland, Invest Northern Ireland and Enterprise Ireland.
Of the total €30 million, €20 million has been allocated to the Sustainability Capital Grant, with €10 million available in both Ireland and Northern Ireland. The funding is expected to leverage more than €63.5 million in private sector investment for decarbonisation projects.
The three Northern Ireland companies approved for support are O&S Doors, which will invest in renewable heat and energy; Capper Trading, which plans to create a renewable energy hub; and Cemcor, which is developing low-carbon cement technology.
Dr Archibald said the funding marked a significant milestone in supporting innovation and sustainability: “I welcome this milestone in the delivery of the successful Shared Island Sustainability Capital Grant.
"The scheme supports the priorities in my economic vision of increasing productivity and decarbonising the economy by investing in innovation. The work that Invest NI, InterTradeIreland and Enterprise Ireland are doing through this scheme is accelerating investment in a sector with huge economic potential across the island, helping us to develop a globally competitive and sustainable economy.”
Kieran Donoghue, chief executive of Invest NI explained: “The Shared Island Capital Grant is a strong example of how collaboration across the island can drive real economic impact.
"The six projects supported through this grant will accelerate decarbonisation and bring wider benefits to the island through increased use of renewable energy and innovations that will improve the sustainability profile of company operations. I look forward to visiting the three projects in Northern Ireland in the new year.”
Margaret Hearty, chief executive of InterTradeIreland said: “Decarbonisation and sustainability are key government priorities across the island and are becoming increasingly important for public sector procurement and island-wide supply chains.
“The support offered through the Shared Island Sustainability Capital Grant will assist businesses in developing innovative solutions that will enable them to progress their transition to net zero, and ultimately increase their awareness, knowledge and capability in this area. We look forward to seeing how the successful projects progress and the innovative solutions that will deliver both commercial and environmental benefits across the island."
Minister for Enterprise, Trade and Employment, Peter Burke TD added: “I am delighted to announce that six very worthy and innovative projects have been approved for the Sustainability Capital Grant, supported through the Shared Island Enterprise Scheme funded by the Government of Ireland.
"These disruptive and diverse projects, spread across the island of Ireland, will ensure that enterprises are well placed to capitalise on emerging and growth sectors while delivering on net zero commitments, decarbonisation and digital transformation.
“This government will continue to advance our Shared Island investment priorities, working in all-island partnership with the Northern Ireland Executive to co-fund and co-deliver investment that creates a more connected, sustainable and prosperous island for all communities.”
More detail on the six projects which have received funding from the Shared Island Sustainability Capital Grant will be announced in the new year.