The use of wood biomass as an energy source could redirect more than €1bn to the Irish economy and create around 4,000 jobs according to industry experts.

Opportunities to develop wood fuels and wood energy services to Irish industry will be discussed at a conference in Cork on October 6-8.

Wood Energy 2004 will feature leading experts from Austria, the Netherlands, Scandinavia and Ireland who will share their experiences.

At last week’s launch of the conference, COFORD said Ireland had the best growing conditions for wood biomass in Europe.

This could prove good news for major carbon dioxide emitting companies which could switch part of their energy generation and/or usage to wood biomass, so reducing emissions and avoiding the payment of fines for exceeding CO2 emissions limits.

&#8220We will work with the industry to ensure that finance is available for companies wishing to develop wood energy as an alternative source of power ”

Bank of Ireland regional business manager Kieran Coveney

Speaking at the launch, Bank of Ireland regional business manager Kieran Coveney said his company was committed to helping Irish companies use wood energy as an alternative source of energy.

He said demand for finance to facilitate environment and energy projects was increasing, and added: “We will work closely with the wood energy industry to ensure that finance is available for companies wishing to develop wood energy as an alternative source of power for Irish businesses.”