The Premier Periclase site on the Boyne Road in Drogheda.

Fifty jobs to be created in phase one with potential for hundreds more

Premier Periclase Limited is to submit a planning application shortly for the redevelopment of its Drogheda manufacturing site, transforming it into a mixed-use, sustainably powered enterprise campus. 

Gyrogy, an Irish energy-tech firm, and Meridiam, an independent investment Benefit Corporation and asset manager in long-term sustainable infrastructure solutions, acquired the Premier Periclase business in May 2023 and have come up with plans to transform the site into a state-of-the art industrial campus for large energy users. 

In a statement issued today the company said: “The planned pathway to net-zero business campus, which will be called ‘Core’, will involve an investment of between €600 million and €1 billion over the next ten years.

“The Core project presents an opportunity to transform a site which was once one of Ireland’s largest sources of industrial emissions into a model for sustainable energy innovation.

By integrating on-site renewable energy generation, battery storage, and gas engines, the campus will decarbonize energy usage for its large energy users while managing and contributing surplus power to the national grid during peak times.

“The investment, planned to facilitate and manage flexible and renewable energy in ‘real-time’ for the national grid will pave the way for a net-zero industrial campus emissions model that can change how large energy users operate in Ireland.” 

The redevelopment plan includes demolition and site remediation works, substantial upgrades to the Premier Periclase site infrastructure, and the integration of renewable energy sources, flexible generation and advanced energy storage systems on the new Core campus. Subject to planning, the first phase of development will focus on installing sustainable energy infrastructure and a 32MW data centre. 

Over time, the site will grow to accommodate a range of high-tech industries, including biopharma, food, beverage, and sustainable manufacturing. The site’s decarbonisation and development focus will make the campus extremely attractive to large foreign direct investment and Irish projects. 

CEO of Gyrogy, Colin Kelly, stated that, “By transitioning to a sustainable business model, this project will secure the long-term future of this historic industrial site, creating more jobs and economic opportunities than ever before for the local community.

“We are proud to be part of a project that not only delivers significant energy-transition and community benefits which will set a new benchmark for sustainable energy practices in Ireland. #

“The redevelopment of the Premier Periclase site is a major milestone for Drogheda, bringing essential infrastructure upgrades and enhanced biodiversity to the area. The project will significantly reduce emissions, noise, and light pollution, directly benefiting the special areas of conservation and special protection zones associated with the River Boyne.”

The Premier Periclase site has a history rooted in industrial innovation. Dating back to 1938, initially for Cement production and since 1977 for Magnesia and Magnesium Hydroxide products, the site played a major role in the life of Drogheda for much of the last century, providing valued local employment, which supported families and the economy of the town. This site offers exceptional infrastructure, including access to existing fresh and sea-water supply, electricity, gas, and renewable energy sources. Its location, on the northern bank of the River Boyne beside Drogheda Port, is strategically connected to national transport networks, making it an ideal site for redevelopment. 

A ‘game changer’ for Drogheda - Nash

Local Labour TD, Ged Nash, the party’s jobs and enterprise spokesperson, said the 'CORE' project "has the potential to be a game-changer for Drogheda."

“I was pleased to meet with and have a detailed briefing from the consortium members earlier this week. This project has the potential to be a real game-changer for jobs and investment in Drogheda.

“It can help kick-start the low-carbon energy revolution that sustainable industrial development in Ireland needs, crucially on our way to the net-zero carbon future on which the future of the planet will depend.

“The planned project is a very innovative initiative on a unique site and could usher in the third era of good, sustainable jobs of the future on the Premier Periclase site. The sustainable job creation potential for IDA and Enterprise Ireland client companies is obvious and I am aware of the positive engagement the consortium has had with the State employment agencies and other key statutory bodies in developing this proposition.

“Access to low carbon energy sources, and I hope in the short-term future, fully renewable energy sources powering industry and homes, can give our area the climate and economic advantage Drogheda needs as we compete for the right kind of climate positive and jobs rich investment."