Springwool, a Munster Technological University-led project aimed at encouraging innovation in the Irish wool industry has secured €574,683 in funding from the Department of Agriculture, Food and the Marine (DAFM).

The funding comes at a critical time for the industry as farmers who, according to the university, are "getting little in return for their wool".

Munster Technological University (MTU) has estimated that it costs farmers about €3.50 to shear a sheep with a return of roughly 20 cent/kg for the fleece.

However it believes this funding boost "will go towards key research to help create a brighter future for Irish-grown wool".

Springwool was one of 21 projects to be granted financial aid as part of an investment boost of €22.3 million in grant aid for research projects focused on the agri-food, forest and bioeconomy sectors.

The MTU-led project is being run in conjunction with Atlantic Technological University, Technological University of Shannon and University College Dublin.

The funding was announced by Minister of State with Special Responsibility for Research and Development at the Department of Agriculture, Food and the Marine, Martin Heydon an event at Farmleigh House in Dublin earlier this week.

Dr. Tim Yeomans, centre manager, Shannon Applied Biotechnology Centre (MTU), has welcomed the funding boost.

Dr. Yeomans said: “This is the most significant amount of funding ever allocated to wool research in Ireland.

He believes the funding decision was driven by the publication of the Wool Feasibility Study in 2022 as well as support from organisations like Irish Grown Wool Council and the Wool Research Hub.

According to MTU different strands of research show "the great potential of Irish wool".

It has outlined that one application involves treating wastewater from scouring wool. Another examines repurposing waste wool to create compost.

There are also uses in cosmetics, medical device and healthcare through the extraction of ceramides and keratin from the wool.