The firm is expected to invest €25million in The Foynes project which will create 140 construction jobs and 60 new jobs when the facility becomes operational.
Bord na Móna, also welcomed the announcement of a 2018 ban on bituminous coal is a boost for the company's business.
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Bord na Móna Head of Fuels, Eddie Scaife, said: "The majority of our fuels business is already smokeless. We supply tens of thousands of Irish households with smokeless products including our iconic briquette as well as firewood and smokeless coal. This announcement supports our substantial investment in this area and is a boost for us as we broaden our offering with new smokeless and low carbon products in the near future.
"We will be soon commissioning a new biomass briquette test plant at our factory in Littleton Co Tipperary, with plans to invest a further €10million to scale up production in the next two years."
(CD/MH)
