Louth-based home appliance maker Glen Dimplex is to open a global energy centre at its site in Dunleer.
The company makes heaters, heat pumps and vacuum cleaners, has annual revenues of €2 billion and employs 10,000 people worldwide.
Its new energy centre will cost €2.5m to develop, and will employ 20 researchers and engineers. It will research and develop energy efficient products for Glen Dimplex's global markets.
Sean O'Driscoll, chief executive of Glen Dimplex, said the main products to be developed would be energy efficient appliances, initially geo-thermal and air-to-water heat pumps. Glen Dimplex is the market leader in these products in Europe.