300,000 pounds made available by Whiterock Finance for young Northern Irish startup that is ready to make a leap to Europe and North America with new hiring and development plan.
Significant breakthrough for the young Northern Irish startup that gets a £300,000 loan, a major fund to expand the team’s technical staff and equipment. A turning point for the young 2020-born company as it seeks space in the autonomous recycling world.
“As REP-TEC continues to grow, we are eager to further expand into global markets. Recently targeting sales of our products in Europe and North America, we are developing an export strategy to grow further in these areas and beyond,” says Colm Grimes, founder and CEO of REP-TEC.
The company based in County Tyrone, Northern Ireland, was founded in 2020 and currently has 23 employees working on managing and improving robotic systems that, through computer vision, are able to separate materials such as glass and metal from other waste.
With the new funding, REP-TEC plans to develop a new line of automatic presses in order to create an innovative export strategy, expanding its target market. “Planned new hires, we intend to add at least 15 elements to expand the workforce,” explains the CEO.
Jenna Mairs, senior investment manager at Whiterock Finance, the company that provided through Growth Loan Fund II the loan to the startup, said, “REP-TEC is at the forefront of the recycling and waste management industry in Northern Ireland and we are excited to see how the company progresses.”
Photo : Pexels
Author: Alessandro Volpe