AMCS, which supplies technology to the waste and recycling industry, has secured €5.25 million (£4.5 million) to fund continued global expansion.
AMCS, which supplies technology to the waste and recycling industry, has secured €5.25 million (£4.5 million) to fund continued global expansion.
The Irish company raised the money from UK-based cleantech fund WHEB Ventures, which led the round, and the Ulster Bank Diageo Venture Fund, managed by NCB Ventures in Dublin.
Jimmy Martin, CEO of AMCS, says, ‘This investment gives us the capital base to execute our business plan and will enable us to enter new overseas markets and to further develop our product range.’
Martin adds that he expects 68 per cent of the Limerick-based company’s sales this year to come from export markets across Europe and the US, as opposed to 28 per cent last year.
The company has benefited from increased adoption of “pay-as-you-throw” technology, whereby waste is weighed and identified with the ultimate aim of reducing the amount going to landfill.
