Tipperary-based Trifol Resources has announced plans for new jobs at its Lanespark plant in the county.
The plant already employs 15 people and this will increase to 30 in 2025.
Expansion plans are already in place to add 12 more reactors which will increase the number of people employed to 70 by 2030.
45 people have already been involved in the build out of the plant over the last two years, which is located at a former Bord Na Móna briquette factory.
Commercial production commenced at the Lanespark plant in June and now agreements have been reached with Shell Chemicals Europe to purchase all of Trifol's pyrolysis oil.
Pyrolysis oil derived from waste plastic and the oil can be further processed into other products.
The company has also agreed a deal with German giant H&R (Hansen und Rosenthal) to purchase its sustainable wax, which is also produced in the pyrolysis production.
Pat Alley, Chairman of Trifol Resources, said the company's project shows how technology can help the country achieve its climate ambitions.
"Our national target to recycle 55% by 2030 is very achievable. Ireland consumes more plastic packaging per person than any other EU country at 58kgs per capita per annum. We can turn the tide on plastic waste. Trifol can recycle some 75% of this target in conjunction with the new Deposit Return Scheme. Ireland can be a world leader is giving old plastic a new life," he said.
Visiting the Co Tippeary plant, Finance Minister Jack Chambers said the new green tech jobs show that there is an economic benefit transitioning to a more sustainable economy.
"Trifol are transforming old waste plastic into a mix of sustainable fuel and wax products and I want to compliment the company and the team under Pat Alley for developing and patenting this new form of pyrolysis," Mr Chambers said.
"I understand that this technology can be exported to help tackle the plastic waste issue in other countries. It is proof of the quality of the oil and wax products that two leading European oil companies have signed supply agreements with Trifol," he added.
