€750,000 funding for BioAtlantis

KERNEL Capital has invested €750,000 in the Irish-owned BioAtlantis group.

€750,000 funding for BioAtlantis

Based in the Kerry Technology Park, Tralee, its processing facility is located in Kanturk, Co Cork. The announcement was made in Cork by Enterprise, Trade and Innovation Minister Batt O’Keeffe.

BioAtlantis is involved in the research, development and manufacture of plant biostimulants and animal prebiotics using molecules derived from seaweeds. This process provides scope for future development of human nutraceuticals, the company said.

Its lead products are biostimulants used to promote plant health and growth and its new GutCare animal feed product.

Products from the Kanturk plant are sold in 22 countries worldwide, with significant potential to grow substantially down the line.

Growth prospects have been enhanced by the EU-wide ban on the use of growth-promoting antibiotics in animal feed that has created a market for the new GutCare product, developed specifically as an alternative to antibiotics in intensively farmed pigs.

This product is supported by back-up data from University College Dublin over the past six years, which is protected by patents.

GutCare trials are expected to commence later this year in the poultry industry, the company said.

BioAtlantis group chief executive John T O’Sullivan said: “The funding provided by the Bank of Ireland Kernel Capital Fund will allow for further research and investment in processing equipment that will bring GutCare and potential human applications to the market over the next two years.”

Enterprise, Trade and Innovation Minister Batt O’Keeffe added: “The Government’s strategy on innovation is rooted in the promise of human capital and our capacity to turn ideas into commercialised products and processes so that we can create the ‘smart’ jobs for tomorrow’s workers.”

He added that the move was in line with Government policy in its use of top-level research from Ireland’s higher education institutions.

Daniel O’Mahony, partner at Kernel Capital, said he expects the product range to win the support of consumers, who are becoming increasingly health conscious.

He is confident that the new products will be welcomed by pig producers and consumers “who are more health-conscious anddemanding of high-quality food supplies.”

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