Smurfit Venture Investments has acquired a 30 per cent stake in GumBusters International, a new Irish company which has invented a machine to remove chewing gum deposits from pedestrian walkways. The machines, designed by Mr Richard Tyler, remove the deposits without damaging the surface and without causing major disruption to the public, according to GumBusters.
The consideration has not been disclosed but is understood to have been under £250,000. All the funds will go into the company whose shareholders include Mr and Mrs Tyler, Mr Derek Keogh and Forbairt. The investment, said Mr Tyler, will allow the company to capitalise on the interest being shown from companies in the UK, Spain, Denmark, Australia, Iceland, France and Germany. The company, he added, has potential orders for 200 machines from Spain. At £11,000 per machine, the order would be worth £2.2 million.
The machine is a mobile, self contained unit called the "Street Laser". It works on a type of "dry steam" system, according to Mr Tyler. It has been patented worldwide.
GumBusters employs 10 people at its plant in Santry, Dublin. This is expected to rise to 24 over the next 18 months.