REP-TEC secures £300K loan to expand team and grow in global markets

By Business & Finance
16 March 2023
Pictured: Jenna Mairs, Senior Investment Manager, Whiterock Finance and Colm Grimes, Founder and CEO, REP-TEC.

The Tyrone-based manufacturer intends to create 15 new jobs with loan from Whiterock Finance

Recycling solutions company REP-TEC garnered funding to expand operations and create 15 new jobs for the workforce. Through Northern Ireland’s Access to Finance suite of funds, they were able to secure the  £300,000 loan from Whiterock Finance’s Growth Loan Fund II. 

REP-TEC designs and manufactures automated recycling solutions at their Dungannon-based company. The company has seen significant growth since its founding in 2020, as CEO Colm Grimes prioritised fixing the nation’s labour shortages and lack of automated systems within the waste management industry.

The company is known for having installed the first robotic recycling system in Ireland, bringing Ireland into a new age of innovation and technological advancement. 

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Jenna Mairs, Senior Investment Manager, Whiterock Finance, said:

“REP-TEC is at the forefront of the recycling and waste management industry in Northern Ireland and we’re excited to see how the company progresses. Providing innovative, market-leading tech solutions to the waste management and recycling industry, the company is primed for growth and we can see the potential for expansion further into international markets.”

The company has objectives to expand its staff of 23 people and to focus its resources on product development, as well as expand its range of clients on a global scale.

“As REP-TEC continues to grow, we are keen to expand our business further into global markets. Recently, we have targeted sales of our products into Europe and North America, and we are developing an export strategy to grow further in these areas and beyond,” said Colm Grimes, Founder and CEO of REP-TEC. 

The £30m Growth Loan Fund II offers loans to organisations in Northern Ireland that wish to grow financially. Loans are provided by Invest Northern Ireland, as well as through the European Regional Development Fund with the EU Investment for Growth and Jobs Programme 2014-2020.