Bank of Ireland's Kernel Capital has completed a €1.2m investment in Waste Systems, a designer and manufacturer of advanced waste management systems.
Waste Systems has developed machinery that separates out difficult waste materials, which enables the highest attainable levels of waste segregation within one mobile machine.
Founded by CEO Nishi Ward, the company has had cumulative sales £7.5m.
It exports its machinery across Europe and North America and has a team of 20 at its base in Co Tyrone.
Earlier this year, it agreed a major distribution deal with UK distributor EPS and is currently working on a similar agreement with a leading US distributor.
The company said today's investment will be used to support its international sales growth and will enable it to capitalise on its traction in key markets.
"The demand for innovation across the waste recovery sector which is being driven by legislative changes and the increasing cost of landfill tax in the UK for unsegregated waste has positioned us as a key player within this global market," commented the company's CEO Nishi Ward.
"This investment from Kernel Capital will enable us to create further employment in Northern Ireland and to grow and scale our company, as we enter new markets and increase our global sales," he added.
