An 'alternative energy' company which is developing algae-fuel technology has been awarded the national 'Rising Star' Award at the 2009 Deloitte Technology Fast 50 Awards.

Alternative Energy Resources supplies bioethanol to the Irish market and is also developing algae-fuel technology for the worldwide market.

The Fast 50 Programme, now in its 10th year in Ireland, ranks the 50 fastest growing technology companies, operating for a minimum of five years, in the Republic of Ireland and Northern Ireland.

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On receiving the award, John Travers, Chief Executive Officer of AER said: "I am delighted to accept the award on behalf of our wider team of colleagues and partners, who have enabled AER to grow successfully over the last three years and position us for future sustainable growth."

AER, which is based in NovaUCD, the Innovation and Technology Transfer Centre, is a leading Irish alternative energy company with a world class performance record in three key areas; production and supply of sustainable biofuels in the Irish market, next generation biofuels research and development and; alternative energy strategies for international energy companies and government agencies.

AER recently signed an exclusive worldwide licence with the National University of Ireland in Galway for technology which converts algae to fuel, following several years of successful development collaboration and investment from AER and Enterprise Ireland.

(BMcC/KMcA)