Welcome news on job front as Limerick firm to create 50 posts

A LIMERICK-BASED supplier of technology solutions to the waste and recycling industry is poised to double its workforce to 100 after raising €5.25 million of equity funding.

Jimmy Martin, chief executive of AMCS, said: “This is very good news for the company. We currently employ 50 highly skilled engineers and technologists in Limerick and the new investment will see an increase in our overall workforce to over 100 people by 2010. In 2008, 28% of our turnover came from export markets across Europe and the US. Aided by this investment we expect that figure to increase to 68% this year.”

Mr Martin said “pay-as-you-throw” technology, which has been used in Ireland for a number of years, is set to become a global standard to reduce the amount of waste going to landfill and encourage more recycling.

He said: “AMCS has developed a complete end-to-end software and hardware turn-key system for the delivery of weighing and identification solutions to the waste and recycling industry to facilitate variable weight-related charging and incentives.

“AMCS’s technology can also enhance the profitability of waste and recycling management operators through the optimisation of collection routes,” added Mr Martin.

Two companies, WHEB Ventures and NCB Ventures, have come on board to back the AMCS project.

James McNaught-Davis, managing partner of WHEB Ventures, said: “We are delighted to support the international expansion of AMCS’s world-leading integrated solution to the waste and recycling industry.”

Michael Murphy, managing partner of NCB Ventures, said: “AMCS is exactly the type of company the Ulster Bank Diageo Venture Fund was established to support. The management team, led by Jimmy Martin and Austin Ryan, has proven entrepreneurial flair and is looking to expand, create jobs and internationalise their business.”

Michael Banks of Enterprise Ireland said it welcomed the investment in AMCS.