Biofuel firm aims for €10m turnover

A NEW Cork-based company aimed at the renewable energy market is targeting turnover of nearly €10 million this year.

Kedco Group employs 80 people in Cork and Latvia. It is using wood pellets to create biofuel.

The company is also targeting the building materials sector.

Kedco is led by Donal Buckey, who previously worked at SWS Group.

He said yesterday that the company was confident of hitting its turnover target of €9.5m this year.

“While the company was formed in 2005 the board of directors have spent time carefully selecting the personnel for the key positions and also purposefully sought ambitious aggressive individuals from diverse backgrounds to bring varying experiences to the table and to aggressively grow the company,” he said.

Other senior members of the executive team come from companies such as Musgrave’s, Kerry Group, Chorus and Anglo Ireland Beef Processors.

The company has four divisions: Kedco Energy, Castle Home Supplies (its retail arm), Kedco Trading (import division), and a manufacturing division.

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