An artist's impression of the new facility planned for Lisheen.
A former Tipperary mining site is set to fast forward Ireland's drive to become a world leader in the use of natural resources.
There has been a warm welcome for a new Bioeconomy innovation and piloting facility at Lisheen.
Lisheen Mine Task Force and Irish Bioeconomy Foundation (IBF) have welcomed an announcement by Minister for Business, Enterprise, and Innovation, Heather Humphreys , of funding to substantially support the Irish Bioeconomy Foundation CLG to develop the facility.
The announcement represents a very significant milestone in the development of a Bioeconomy Campus at Lisheen and a huge step forward for Ireland’s ambitions to be a world leader in the sustainable use of our natural resources.
The plan involves financial support through Enterprise Irelands` Regional Economic Development Fund.
The facility will enable industry, entrepreneurs and researchers to scale technologies that convert Ireland’s natural resources to products of high value for use in a wide variety of sectors including food ingredients, feed ingredients, pharmaceuticals, natural chemicals, biodegradable plastics and more.
The global chemicals market is worth €2.5 trillion and is set to double in value by 2030. The OECD predicts that 22% of all chemicals will be natural by 2025.
Pharmaceuticals are worth €1 trillion p.a. and predicted to reach €1.5 trillion by 2021. Increasingly Nutrition and Pharma are interfacing through natural heath promoting molecules (nutraceuticals). Biotechnology and chemistry have the tools to produce nutraceuticals and pharmaceuticals from our natural resources and feed into multibillion Euro global markets.
This National Bioeconomy innovation and piloting facility is part of the strategies of the Lisheen taskforce strategy and Tipperary County Council strategy to establish a world leading Bioeconomy campus at Lisheen and a wider national strategy to drive innovation in rural Ireland through the use of Ireland’s natural resources.
Alan Buckley, Chairperson of the Lisheen Task Force extended his “warmest congratulations to all the members of the Irish Bioeconomy Foundation who put the successful grant application together and acknowledged the vision and hard work of the Lisheen Task Force.