Bord na Móna is to invest a further €5m in its Accelerate Green accelerator programme over the next three years.
The programme is designed to scale-up companies who are developing products and services based on green innovation in response to climate action and sustainability challenges.
The fresh investment will help develop over 50 companies as they scale up.
15% of the money will be used to target new companies to apply to Accelerate Green, particularly those based in the midlands where Bord na Móna has wound down peat production.
"Of the 17 companies who have already come through Accelerate Green, we have established a working partnership with six companies and facilitated ten to scale up, secure more funding, diversify their business and provide more climate focussed roles in the Midlands," said Tom Donnellan, chief executive of Bord na Móna.
News of the additional investment came as the company revealed the identities of the next eight companies to take part in the programme.
They include NanobOx, Hibra Design, HaPPE Earth, Hub360, Superfy, Trinity Green Energy, EC Charging and CW Applied Technology.
"This new cohort of companies just beginning the programme represent the critical pipeline of potential new enterprises operating in the sustainability space or looking to transition to become a climate solutions company, a journey we have been on ourselves since 2018," said Mr Donnellan.
"We are committed to sharing our knowledge with these enterprises as they progress through the Accelerate Green programme, collaborating to ensure the organisations can scale up and become leaders in their own right with the support of Bord na Móna."
