Farmer owned food and nutrition co-op Tirlán has commited a total of €10m towards the development of the Tirlán Nurture Fund, which is aimed at identifying and scaling innovative agrifood-tech solutions.
Tirlán said it will target early-stage innovative and sustainable technology investments through the new €10m platform over the coming years.
Investments will seek to identify solutions that add to increased efficiency and drive sustainability along the supply chain, with the aim of benefitting Tirlán, its farmer suppliers and the wider community.
It is expected that the first investment will take place in the first half of 2024.
Tirlán said the Fund will make both direct and indirect investments into proven technologies seeking commercial scale, as well as established companies seeking to scale into new markets.
Chief executive Jim Bergin said that Tirlán is a vibrant, ambitious and innovative business committed to being at the forefront of sustainable dairy and grains into the future.
"We see the potential of investing and scaling start-ups that tap into Tirlán's core strengths and will drive value in the food and nutritional science solutions area through both innovative technologies and research and development in functional ingredients, food safety and traceability, packaging, animal health and sustainability," he stated.
"These activities will create additional value streams for our organisation, and will aim to improve, modernise and make more sustainable Irish and global food supply chains for the future," he added.
Tirlán Chairperson John Murphy said the co-op has a long heritage of being at the forefront of innovation.
"As industry leaders, Tirlán believes there is a significant opportunity for the development and adoption of disruptive technology solutions that contribute to increased efficiency, sustainability, and innovation for our farmers, our community, and our company that will transition us towards more sustainable, less resource-intensive food systems," Mr Murphy added.
