Climate technology company ActionZero is setting up a new manufacturing, research and development centre in Tralee, Co Kerry at the former Borg Warner facility.

The new facility will employ up to 50 high value engineering and manufacturing jobs locally and ActionZero plans to invest €3m in the company over the coming three years.

The Enterprise Ireland-backed company will continue to develop and expand its high temperature heat pump technology EscoPod product range from the new Tralee facility, and is projecting sales growth of €50m over the next two years.

The chief executive of ActionZero, Denis Collins, said the company was proud to help lead the acceleration of a viable global energy hub in Ireland and Munster.

"Our decision to locate Manufacturing and R&D in Tralee, is a testament to the skills and talent available locally," Mr Collins said.

The innovation centre will be central to ActionZero development of pioneering technologies that will make a tangible, lasting impact via our unique, patented decarbonisation solutions roadmap," he said.

"We are also very grateful for the comprehensive leadership and support from Enterprise Ireland and IDA Ireland that enabled ActionZero to achieve this compelling Irish regional location," he added.

"Action Zero's announcement today represents a really strong commitment to Tralee and to scaling its impact in the climate technology sector," Enterprise Ireland's chief executive Leo Clancy

"ActionZero is providing solutions to enable and accelerate our goal to lead in a changing world where climate change is a key global priority. That focus on driving sustainability represents a great opportunity and will be a key growth area for Irish business," he added.

Minister for Public Expenditure and Reform Michael McGrath said the news from ActionZero is welcome for the Kerry and Tralee region and represents a real boost to the local economy with key jobs and skills in this important sector.

"I very much welcome ActionZero's commitment to manufacturing in Ireland and the climate change challenge which is to the fore of all our minds," he added.