Jobs boost after €1 million investment in biotech firm

Galway is to get 23 new jobs due to a €1 million investment round in a local biotech firm specialising in microalgae cultivation.

27th January, 2013
Edward McHugh, managing director of Algae Health, with Eric Reed of Enterprise Equity Venture Capital, and Gillian Buckley of Western Development Commission. Photo: Andrew Downes

Galway is to get 23 new jobs on foot of a €1 million investment round in a local biotech firm specialising in microalgae cultivation.

The investment in Claregalway's Algae Health came from the AIB Seed Capital Fund, co-managed by Enterprise Equity Venture Capital and the Western Investment Fund.

It will go towards export plans for the company, which will also get support from Údarás na Gaeltachta.

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