Powerhouse Energy said it has entered into an agreement with Noage Energy, which will act as its representative in Northern Ireland.
Under the agreement, Noage will work on behalf of Powerhouse to establish a waste-to-energy project, according to a statement.
Noage has already identified a potential site and will now assist Powerhouse in negotiating access to the property, as well as obtaining the necessary permissions to construct and operate the facility.
Powerhouse will pay an initial £50,000 to Noage, which will also receive success-related fees that are payable upon completion of specific milestones, with the company possibly receiving fees of £1.725mln.
The agreement has an initial term of five years but can be extended for a further two at the request of Noage.
However, any contractual commitments with third parties will be with Powerhouse directly, and Noage will not be able to give commitments on Powerhouse’s behalf, it said.
"Noage has already demonstrated itself to be a proactive partner in bringing a project opportunity in Ballymena to PHE and identifying the various elements required to bring it to fruition,” said Keith Riley, acting CEO of Powerhouse.