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Limerick start-up company ALR Innovations plans to dominate
the European market with its LCD screen-recycling technology
within two years - after that, it will move on to the rest
of the world, starting with Japan and Korea.
The plans might seem a little ambitious for a company that
has yet to go to the market - but for the fact that it is
offering the world’s first automated machine for recycling
LCD screens.
At present, recycling companies all over Europe are stockpiling
waste LCD screens, awaiting the arrival of technology which
will allow them to be recycled efficiently. This has been
happening since 2003, when the EU made LCD recycling mandatory.
Given the enormous demand for this innovative technology,
automated LCD recycling is anticipated to have a minimum turnover
of €54 million by 2016.
LCD screens came into use in the late 1990s and are now dominating
the market. ALR
chief executive and founder Dr Lisa O’Donoghue says 190 million
screens were sold worldwide in 2010 and the European sales
figure alone is set to hit 85 million by 2015. At present
the only way to recycle LCD units is manually.
“Only three or four screens can be recycled in an hour. It
is labour-intensive and dangerous, since it requires the removal
of liquid crystal and a mercury component which are harmful
to the environment,’’ she says.
The launch of ALR's automated machine, which can recycle
80 screens an hour, is scheduled for next summer. Dr. O’Donoghue
says that, with growing stockpiles of waste LCD screens,
recycling companies all over Europe have responded very
positively.
“We will start by saturating the market in Europe and
then we will move on to develop sales in Korea and Japan
and, within four or five years, we plan to start selling
in the US and Australia,” she said.
Although some research is being carried out into this type
of technology by recycling companies in other countries,
she says the company has first-mover advantage and intends
to make the most of it.
Developed at the University of Limerick over the last four
years, ALR's technology has been patented in Ireland and
is also being patented worldwide. Dr O’Donoghue says it
could be a few years before any potential competitor could
be ready for market.
In 2009, Dr O’Donoghue identified a need for this type
of technology and set up a research team at the University
of Limerick, securing €350,000 in funding from the EPA.
Setting up the company with an office at the University
of Limerick and the Hartnett Enterprise Acceleration Centre
in Limerick in June this year, she licensed the technology
from the University of Limerick.
Participating in the LEAP Enterprise Platform programme
at Limerick Institute of Technology, the company secured
funding from Enterprise Ireland and won the High Growth
award for the Munster region in the Intertrade Ireland Seedcorn
competition.
The company, which employs a staff of three, is now finalising
the market-ready machine, as well as fundraising and developing
a sales strategy for Europe. Britain, Germany and France
have been identified as the key target markets for 2012.
The company is also completing negotiations with a company
in Ireland which will manufacture the recycling machines.
Dr O’Donoghue says that manufacturing in Ireland will ensure
that the company maintains control over the process and
guarantees quality. Funded since this summer by Dr O’Donoghue,
the company is now planning to raise in excess of half a
million euro to fund the product’s roll-out.
“Winning the high growth award
for Munster in the Seedcorn competition has been a major boost.
The venture capital companies are now inviting us to submit
applications instead of us having to approach them,’’ adds
Dr O’Donoghue.
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