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AFTER RAISING MORE than half a million euro in funding last year, Irish waste management company Eiravato is moving its main operations to Luxembourg, having found little interest in the so-called ‘circular economy’ among businesses here.
Using artificial intelligence and other technology, Eiravato provides a software that allows businesses to keep track of the kinds of waste they produce. The platform provides data to users that allows them to source potential buyers for waste materials, preventing the need to send scraps to landfills.
Its technology is focused on the circular economy, a concept in which products or materials are upgraded or refurbished so they can continue being used. According to the World Economic Forum, the sector could bank net materials cost savings of up to $630 billion per year in the EU alone.
Last year, Eiravato raised €550,000 in funding from Enterprise Ireland and private investors to develop its platform and grow the business internationally.
“We started here, and then we quickly saw that Ireland is very slow in terms of circular economy – it was not really recognised as a beneficial,” said Marcin Kulik, co-founder and CEO of Eiravato.
Kulik has a software background and founded the company in 2015 with his business partner, Steve Cassidy, who comes from a plastics recycling background.
The company recently launched its Luxembourg office and will be moving operations there in the future, though it will still keep a Dublin office for data analytics.
Scaling
Luxembourg is “the perfect location” for the business, according to Kulik, as it gives the company access to other European markets like Germany, France, Finland and the Benelux countries.
Companies in Ireland “did not really see it (the circular economy) as something that they should be looking to”, he said.
“We understood that we needed to seek markets that are more active, that are really looking forward to the circular economy and that understand the necessity of it for industries to survive,” said Kulik.
The company began to generate interest in other European countries and eventually decided to set up in Luxembourg, where it recently graduated from the Fit4Start startup accelerator programme and received a further €50,000 in funding.
This will allow the business to grow, said Kulik. Currently, the new office employs just one person.
‘Collaboration’
Eiravato closed down its physical office Blanchardstown in March, but the company “didn’t give up fully on Ireland”, said Kulik.
For the future, however, its focus will be on growing the company from Luxembourg. Once it is up and running there, the company will likely look at opening another physical office in Ireland.
“The growth is there and so our operation in Ireland will be mostly intensive data analytics,” he said.
“Collaboration is key to circular economy; collaboration between industry, innovation – like us – and the government, otherwise there’s no interest.”
The Irish government recently announced €600,000 in Environmental Protection Agency-led funding for innovative approaches to promote the circular economy.
Written by Zuzia Whelan and posted on Fora.ie
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Council think it will have no negative impact?
They’ve clearly not lived near students who love to party. Especially not fun when you have to be up for work!
@Barry: There article said that antisocial behaviour was out of the scope of a planning application. The ‘no negative effect’ was in relation to the building, not the occupants.
@Barry: they actually come down hard on having parties within Trinity Hall, previously you were allowed one over-nihht guest who had to be signed in prior to 11PM and couldn’t re-enter after that, prior to 11 it was 3 guests who had to be gone by 11, at least those were the rules a few years ago.
Hence, parties on site aren’t the issue, coming and going to off-site parties could be an issue however
Have rent caps been considered in terms of this development. University rents are notoriously overpriced fuelling rent increases in the general rental market.
@Chris O’Connor: Trinity only made a net profit of circa 10 million on student accommodation in 2018, so little chance they will support your view
https://www.irishtimes.com/news/education/why-should-students-living-at-home-subsidise-those-living-in-campus-accommodation-1.4183312
No different to Temple Bar at weekends prior to Covid…. Smell of urine and vomit overpowering, empty cans and bottles, discarded food containers…. You know… The usual… But that was acceptable because the Pubs were creaming it. Now the ball is in a different court…..
Delighted. Temple road is still one of the quietest streets in Dublin. Plenty of room in the area. Students are largely very respectful in my experience.
Trinity should be ashamed of themselves being associated with this disaster of planning
No argument that the vast majority of students are respectful of local residents, but it only takes a few to cause mayhem. The college needs to take a no-tolerance approach to antisocial behaviour. One strike and your out and no return of deposit which should be donated to the local residents association. When mumsy and pop have to fork out a second time I’m sure the ground rules would be explained more forcefully.
Gasly shower of individual’s.
@Peter Bell: You’re not a Trinity graduate yourself?
@Peter Bell: It is usually the ghastly old fart’s who are gasly, especially those who use an apostrophe in a plural word.
The story had significantly less to do with UTIs than the headline may have led one to expect….
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