West Cork food-to-energy firm MyGug secures €900k in pre-seed funding

The Clonakilty start-up was established by husband and wife, Kieran Coffey and Fiona Kelleher

Tue, 26 Mar, 2024 - 10:47

Emer Walsh

West Cork food waste company, MyGug has raised €900,000 in pre-seed funding that will help expand its reach across both domestic and international markets.

Established in 2022, the business specialises in the conversion of food waste in renewable energy for cooking and plant nutrients.

Founded by husband and wife, Kieran Coffey and Fiona Kelleher, the pair have developed an egg-shaped anaerobic digestion tool, with customers largely based across food businesses and education settings across Ireland, the UK and Europe.

The start-up's latest round of funding, which saw them secure almost €1m to aid its expansion and innovation, was led by BVP Investments with support from Enterprise Ireland.

Based in Clonakilty, MyGug says it is the only complete food waste management system creating renewable energy, displacing fossil fuel use and diverting food waste from landfills.

"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," said chief executive of MyGug, Fiona Kelleher.

"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."

Stephen Burdock, Executive Director at BVP Investments said MyGug has been "at the forefront of introducing new age technology to solve growing food waste challenges for micro and medium-scale commercial establishments," adding that the solution provides "a large unmet market opportunity for solving waste and energy challenges simultaneously."