Tirlán commits €10 million to fund and scale early-stage agri-food technologies focused on nutrition and sustainability
Tirlán, Ireland’s leading farmer-owned food and nutrition business, has today announced the commitment of €10 million towards the development of the Tirlán Nurture Fund, an investment platform aimed at identifying and scaling innovative agrifood-tech solutions.
Tirlán will target early-stage innovative and sustainable technology investments through the new €10 million platform over the coming years. Investments will seek to identify solutions that contribute to increased efficiency and drive sustainability along the supply chain, with the aim of benefitting Tirlán, Tirlán’s farmer suppliers, and the wider community. It is expected that the first investment will take place in the first half of 2024.
It is intended that the Fund will make both direct and indirect investments into proven technologies seeking commercial scale, and established companies seeking to scale into new markets.
Speaking at the announcement of the new initiative, Tirlán Chairperson John Murphy said;
Our Co-op has a long heritage of being at the forefront of innovation. As part of our transition into full co-operative ownership, we highlighted the potential of the creation of an investment fund that would complement the Tirlán business.
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.
Tirlán CEO Jim Bergin said;
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.
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.
Tirlán Chief Investment Officer Frank Tobin said;
The aim of this new initiative is to promote innovation, while driving strategic objectives and supporting the broader entrepreneurial ecosystem.
This new investment platform will allow us to tap into our existing food manufacturing and nutritional science expertise to bring that to bear in identifying and scaling very different or completely new solutions to challenges in nutritional innovation, sustainability and technology spheres.
Tirlán outlined plans as part of its transition to full co-operative ownership to create an Investment Fund with the potential to pursue new opportunities for the organisation. The Tirlán Nurture Fund is the first initiative under this plan.
First Published 13 September 2023