Meridiam partners with Gyrogy to regenerate Irish industrial site with low carbon and impactful energy efficient solutions
Meridiam, a Benefit Corporation specialising in the development, investment and asset management of sustainable public infrastructure over the long term, and its partner Gyrogy, an Irish technology company that develops and operates sustainable energy Infrastructure, have completed the acquisition of Premier Periclase Limited (PPL) industrial site of Boyne Road, Drogheda, located north of Dublin in Ireland.
Both partners intend to redevelop this industrial site and over time transform it into a modern, mixed-use industrial campus offering low carbon energy solutions, which aligns with the Government’s sustainable economic growth and decarbonisation objectives. Thanks to this transformational project, the future for the PPL site, which has over 85 years of industrial heritage, will be secured forthe long-term. The project should ultimately create over 500 local direct and indirect jobs and deliver significant economic benefits for Drogheda and its neighbouring communities.
Meridiam and Gyrogy will work together with the current PPL employees and key stakeholders to deliver on this ambitious project. While finalizing plans for the transition of the site, actual business and operations will continue.
Meridiam’s Deputy CEO Matthieu Muzumdar said: “This project is a perfect illustration of Meridiam’s ability and expertise in revamping and cleaning up industrial sites and transforming them into clean, sustainable projects. It will deliver meaningful impact by providing local employment over the long term and a clear path towards local and regional economic support.”
Gyrogy CEO Colin Kelly said: “The PPL site has a unique array of energy and water infrastructure resources that have supported the company for decades. Combining these resources with Gyrogy’s technology, we aim to develop infrastructure which will attract companies to manufacture their products and deliver their services from a decarbonised energy network and without impacting the public water system.”