BRIGHT HOPES FOR TULLAMORE FIRM - Amidst the chaos of Anglo Irish Bank, the unemployment gloom and the dark shadows of our unhealthy public finances, there is proof that in our economy there are people looking to make a difference.
R & R Mechanical is an engineering company based in Tullamore in Co Offaly. It has an air cooling technology called MACCsol, and and along with the University of Limerick it applied for funding from the European Union.
They received €4m to develop their technology for use in solar power plants. The EU not only gave them the cash, but their proposal was the top rated out of more than 60 submitted for framework funding. The company hopes to create manufacturing jobs.
The man behind R & R Mechanical, Nigel Reams, says the idea is to develop a more efficient way of producing steam, particularly in desert areas.
Concentrated solar power plants direct the sun's rays at a focal point. Water is needed in the process of creating solar energy, and the EU believes the process can be done more efficiently, with less water.
The EU has a target of creating 20% of energy from renewable sources, of which a quarter is to be solar power.
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NEWS IN BRIEF - Around 30 new jobs are expected to be announced at the Cork aluminium firm, Architectural and Metal Systems, on Little Island in Co Cork.
Burger King has accepted a $4 billion dollar takeover bid by a private investment firm, as the fast food chain tries to close the gap on McDonald's and expand overseas. Private equity group 3G Capital is being backed by Brazilian investors.
