A LIMERICK start-up firm which designed the world’s first recycling technology for flat-screen televisions has been given a €75,000 boost.
ALR Innovations, founded by Dr Lisa O’Donoghue, plans to expand its unique technology to Ireland, Europe and the Far East, after receiving first prize at the Limerick Enterprise Acceleration Programme (LEAP) awards in LIT.
The largest prize fund in Ireland, three awards for some of the city’s best start-up firms were presented by Housing Minister Jan O’Sullivan at a ceremony in LIT.
ALR secured investment from AIB Seed Capital, worth €50,000. It also received a cheque from LIT for €5,000, as well as €25,000 worth of consultancy and supports, including legal advice from Holmes O’Malley Sexton and mentoring from the Discovery Partnership.
ALR Innovations also received an award for best Intellectual Property.
The company’s technology came about following directives on how to remove hazardous materials from LCD screens. These materials hold significant financial value and recycling organisations actively tender for the opportunity to recycle screens.
Customers range from small scale SME recyclers to large multinationals that operate shred and sort facilities.
ALR’s technology will be capable of recycling up to 80 units per hour, compared to the current manual rate of three to four units per hour by recycling companies.
Speaking after winning the award, Dr O’Donoghue said the funding boost gives the business great security at an exciting stage of its development.
The entrepreneur has previously won the Young Entrepreneur of the Year prize in 2010, as well as the Junior Chamber’s Young Person of the Year Prize last year. Second place in the awards went to Co. Clare company Lavida Food Ltd, which specialises in the sourcing and supply of high quality, gluten free foods for wholesale, while the third place prize went to Tipperary-based firm Nevermind Games.