The investment represents an upswing in the company’s fortunes which went through a 19-month receivership until acquired by Cerberus Capital Management in March 2014, saving 700 jobs.
Greenstar is now keen to “play a leading role in the journey to a world-class waste infrastructure in Ireland”, according to CEO Mark E Keough.
“Many people never think of where waste ends up, all the while assuming that it’s burned, buried or dumped, hopefully in a place well away from their homes. The reality is that waste is rapidly developing into a reusable resource that can be converted into fuel, natural gas, fertiliser, and raw materials for other industries.”
The facility at Sarsfield Court represented the first phase of a multi-phase project to convert waste into alternative products in a safe and efficient manner, he said. Agriculture Minister Simon Coveney, who attended the opening, said it was “incumbent” on everyone “to insist that our waste is treated and disposed of in a responsible way and where it ends up is a matter of great importance”.
“I am here today to endorse the efforts that Greenstar have made in this regard, leading the way with this refurbished facility which is undoubtedly one of the finest in the country,” he said.
Environmentalists and community groups were also invited to inspect the new facility at one of two Greenstar plants in Glanmire, outside Cork City.