MyGug secures €900k in seed funding from BVP and Enterprise Ireland to expand its clean energy technology.
The Irish cleantech startup has raised capital to scale its food waste conversion technology across domestic and international markets.
≈ £772K at €1 = £0.8576 on 25 Mar 2024
Irish cleantech startup that manufactures egg-shaped anaerobic digestion units to convert food waste into renewable biogas and liquid fertiliser.
MyGug has secured €900k in seed funding to expand its market reach and drive its next phase of growth. The investment round was led by BVP, with participation from state agency Enterprise Ireland.
Founded in 2021 in Clonakilty, the company develops compact anaerobic digestion systems designed for small-scale commercial settings, such as educational establishments and food businesses. The technology converts organic waste into natural gas for cooking and liquid fertiliser for growing produce.
The fresh capital will support the firm as it scales its commercial operations domestically and internationally.
From the founder
"We are delighted to have the support of BVP and Enterprise Ireland as we embark on this next chapter of growth for MyGug. Moving forward with this support is vital for the company. We are fortunate to have an experienced investor base of BVP and Enterprise Ireland which brings expertise to widen our network and relevant background which we see as a very valuable asset in our partnership, and we look forward to a positive and successful collaboration in bringing MyGug to a wider market. This investment will greatly support our efforts to deliver this innovative food waste solution to customers and create a greater positive impact in the fight against climate change,"
Fiona Kelleher
CEO at MyGug
Investor perspective
"MyGug has been at the forefront of introducing new age technology to solve growing food waste challenges for micro and medium-scale commercial establishments. The solution is simple to install and has been proven to work thereby providing a large unmet market opportunity for solving waste and energy challenges simultaneously for businesses across different sectors. The dynamic team of Fiona and Kieran have impressed us with their passion to drive this sustainable enterprise solution and their achievement so far."
Stephen Burdock
Executive Director, BVP
Use of funds
- 01Expand into international markets