UK biotech firm goes greener than grass with move to Cork
Irish weather may not suit crops such as coffee beans, olives, bananas, and citrus fruits - but we have an abundance of grass. For that reason, we are one of the greatest global beef and dairy producers.
As the world becomes even more obsessed with clean food, clean water, sustainability and natural resources, the opportunities in this island of ours are significant. While our green grass is a prized national asset, other countries with less rain cannot say that.
Martin Frost and Bob Jennings are former executive employees of Imperial Chemical Industries (ICI). They and other individuals formed Avocet Infinite PLC in 2014. Having initially been instrumental in the development of advanced technology for ICI, they subsequently acquired key intellectual property ownership to the technology.
This propelled them to embark on a zealous drive to produce sustainable and environmentally friendly food. Over the years, they have advanced the technology even further and as the economy goes through its swings and roundabouts, Avocet is now a business with a viable future.
This is a pre-revenue company that has invested €60m to date. That may seem like an exorbitant amount of money but when viewed against the revenue potential and the growing capital value, it makes lots of sense.
To safeguard its future in a post-Brexit world, this Northumberland-based firm has set up an Irish division called Avocet Bio-solutions based in Cork, with an Irish team. This is a developing Irish company with Irish investment and a farm in Thurles where many trials are under way.