Turning hazardous waste into valuable commodities

Waste electrical and electronic equipment (WEEE) is the fastest-growing and most hazardous waste on the planet, Paudy O’Brien, chief executive of FPD Recycling, said.

“At FPD Recycling, we are modernising WEEE recycling to make it safe, profitable and sustainable. Using AI-powered technology, our mission is that every used flat screen in the world becomes a valuable commodity rather than a hazardous waste.”

As we throw away machines and devices deemed as out of date, the result is a growing mountain of e-waste. Last year alone, it was reckoned that more than 50 million tons of e-waste were generated globally, with only around 20 per cent of it officially recycled. Half of the 50 million tons represented TVs, computers, smartphones and tablets, with the remainder being large household appliances, and heating and cooling equipment.

Having identified a substantial gap in the WEEE recycling market, Irish cleantech company Peregrine Technologies was founded in 2019 by a team of experienced entrepreneurs to bring AI and robotic innovation to this growing industry. “FPD Recycling® is Peregrine Technologies’ first division, a dedicated end-to-end automated solution provider for recycling Flat Panel Displays (FPDs),” O’Brien said.

The Limerick-headquartered company operates out of the Nexus Innovation Centre on the University of Limerick campus and currently has ten employees with plans to grow its team further in 2023.

On October 14, 2022, supported by Enterprise Ireland and CIRCULÉIRE, Peregrine Technologies was approved for EU grant funding under the European Innovation Council (EIC) Accelerator, all of which is underpinned by the EU Green Deal. The total funding package is €17.7 million.

O’Brien said that EIC is Europe’s flagship innovation programme to identify, develop and scale-up breakthrough technologies and game-changing innovations, capable of delivering tangible results to support the objectives of the Green Deal.

“The EIC Accelerator funding is a game-changer for us as we scale FPD Recycling®, our dedicated end-to-end solution for recycling flat panel displays. This funding will enable us to expand further internationally, create new high-level jobs in Ireland and abroad, and upgrade existing sites,” he said.

O’Brien said that 54 million metric tons of WEEE was generated in 2019, according to the UN, the majority of which were discarded. “The FPD recycling market is huge and rapidly evolving due to legislation around the handling of hazardous materials such as mercury, cadmium and lead. With an expected lifespan of seven to ten years, 359 million TVs and PC monitors were sold annually between 2012 and 2019.

“Our experienced technical team has developed fully automated, high-throughput FPD robotic recycling systems that transform the recycling of end-of-life flat screen displays, enabling the best possible material recovery rates and the safest human and environmental outcomes.”

“We have developed the most advanced robotic FPD depollution machine in the market, FPD PRO® – the first solution to make screen recycling both safe and profitable,” Gary Moloney, COO, said.

“Last month, one of the largest WEEE lifecycle managers in the north-east region of the United States, eLoop, announced it will be the first e-waste recycler in the United States to implement the FPD PRO® for processing FPDs.”

O’Brien said that investing in FPD Recycling under the Employment and Investment Incentive Scheme (EIIS) 2022 provides investors with a straightforward tax-efficient sustainable investment opportunity.

“Investments will generate a measurable, beneficial social and environmental impact alongside a market leading financial return for the investor.”

Investors can claim up to 40 per cent tax relief in the year in which the investment is made against PAYE, rental, dividend, share options, bonuses and pension/ARF income sources.

“This is a true EIIS investment opportunity with impact, driving the circular economy – supporting a cleantech Irish company backed by Enterprise Ireland and the EU, targeting a ROI of 100 per cent over four years,” he said.

“Our technology ensures that e-waste is recycled in a safe, sustainable and profitable process, and is developed, proven in the market and ready to scale globally. The EIIS investment also provides investors with an opportunity to be a part of a genuine alternative asset class, offering investors portfolio diversification.”

Our immediate goal is to build and expand our business both here in Ireland and globally, O’Brien said. “We will be creating new roles, both in Ireland and overseas, investing and upgrading the technology in our existing sites, and targeting new customers in the US and Europe.”

For more information contact: eiis@fpdrecycling.com