A cash boost for companies trading across the Irish border has been revealed.

A wastewater and environmental partnership between a Limerick and a Newry firm is one of 16 such companies to receive up to €300,000 each from InterTradeIreland to accelerate new product, process and service developments.

The funds, awarded through its Innova R&D programme, will help the companies involved to form a strategic cross-border partnership to share knowledge and technical expertise.

The Chief Executive of the cross-border business and development body, Liam Nellis said: "Innova helps companies to work together to develop new products with demonstrable commercial potential and bring them to market faster than if they were working alone.

"Each application is technically, commercially and financially assessed by a team of experts and the competition is tough.

"Companies that have made it onto the programme should be very proud of their achievement and we look forward to releasing a further €7.6m later this year for other projects that make the grade.

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"Indeed, we are currently taking expressions of interest from companies looking to undertake cross-border R&D," he said.

Two companies benefiting from Innova funding are Newry-based FM Environmental and information management company Central Solutions from Limerick.

The two companies will partner in developing a turnkey IT solution for Wastewater Treatment Compliance Monitoring and Management.

The partnership provides the opportunity to combine Central Solutions extensive experience in the provision of data management solutions and FM Environmental's track record in the design and deployment of management and monitoring solutions for the water industry internationally.

The beneficiaries will be local authorities and others with responsibility for the management of wastewater treatment.

Noel Mills, Commercial Director at FM Environmental Ltd said: "This project involves developing an innovative Quality Management System for the Global Wastewater Industry.

"Teaming up with Central Solutions is such a positive move as it has opened a door to a different skill base while providing a working relationship with a company that holds similar views to our own.

"InterTradeIreland's practical assistance and financial support complement this project."

Paul Conheady, Chief Executive Officer of Central Solutions said: "The investment in this R&D project is part of Central Solution's ongoing commitment to develop and deliver best in class data management solutions for new and existing clients in Ireland, the UK and beyond."

(BMcC/KMcA)