NVP ENERGY

Mullingar business NVP Energy ticks two boxes that investors increasingly like to see: recycling and sustainable energy. The company has developed technology to treat wastewater for recycling and produces biogas from the same process.

NVP is founded on research from NUI Galway professor Vincent O’Flaherty, which was commercialised by Alan Phelan (51) and Sean McKeague (56) as NVP Energy. Phelan is also CEO of Sourcedogg, a procurement software company, and headed up Servigroup for several years.

The NVP Energy solution can remove organic pollution from wastewater generated by industries such as meat processing, brewing and municipal water, then convert the organic pollutants to biogas. Clients include ABP Food Group and Heineken.

Since being established in 2013, NVP has raised more than €12m in funding and investment, including €900,000 in 2020 in Enterprise Ireland state aid funded by taxpayers from the DTIF. The state agency made an earlier payment of €250,000 to the company in 2016.

NVP Energy Ltd booked a loss of €286,000 in the year to June 2019 and had a year-end net deficit of €114,000. The business employed 10 people and trade debtors were €193,000.

NVP’s parent company is Nucleus VP Group, which also operates Sourcedogg, satellite broadband provider Onwave and Ingen Distribution, which distributes computer networking equipment. The company had accumulated losses of €2.2m in FY19 and long-term creditors of €16m, comprising loans from shareholders and directors.