FPD Recycling and the EIC Accelerator: Screen Robots Gone Quiet

Peregrine Technologies, founded in 2018 by Paudy O'Brien and Gary Moloney and trading as FPD Recycling, builds machines that take apart discarded flat-panel TVs and monitors. Its CircularPro system uses 3D vision, robots and AI to remove screens and the mercury-containing lamps in older displays, identify plastics and harvest reusable components. Its EIC project promised "a first-to-market holistic solution" offered as a pay-per-use service to recyclers, according to CORDIS.

The European Innovation Council granted €1,886,791 towards a €2.7 million project from August 2022 to January 2024. In December 2022 the company said it had been approved for a €17.7 million EIC investment and would create 20 jobs. The final report says a fully functional CircularPro was "successfully installed on two customer sites as planned", with depollution and plastic identification at TRL 8 and a carbon credit project registered with Gold Standard. Its latest public accounts are for 2023, and the 2024 accounts, due in September 2025, were still overdue in 2026, according to SoloCheck. Its two websites did not respond when checked in September 2026.

Where FPD Recycling Stands Now

The company's register status is still "normal", but the record shows four director-change filings between October and December 2025 and a share allotment in December 2025, according to SoloCheck, which classes it as a small company. In 2022 press coverage placed its headquarters at the University of Limerick's Nexus Innovation Centre; its registered address is now in Cork. Its sites fpdrecycling.com and pthltd.com, whose pages on CircularPro and an EIIS tax-relief fundraising are still listed by search engines, did not load when checked. No customer, sale or funding announcement after the EIC project has been found.

The Technology: Robots for Old Screens

The report says CircularPro was designed to process 80 units an hour, removing screens and mercury lamps in a controlled environment, while X-ray fluorescence identifies plastic types and brominated flame retardants. It calls the company "the first company globally, using the UN methodologies, to successfully register a project for WEEE carbon credits" with Gold Standard. The robotic removal of components for reuse was still unfinished at the end of the project and was expected in April 2024.

What the EIC Project Promised, and What CORDIS Shows

The project delivered a working machine at two customer sites and most of its planned features. The component-harvesting robot was not finished within the project. The business model, CircularPro as a subscription service for recyclers around the world, has left no public trace since. CORDIS lists the project as closed.

1. Working CircularProDeliveredTwo customer sites.
2. Carbon creditsDeliveredGold Standard project.
3. Component harvestingUnfinishedDue April 2024.
4. Scale-up as a serviceNo traceWebsites down.

The Money

The €17.7 million the company announced in 2022 combined the grant with an EIC equity offer; whether the EIC Fund actually invested has not been disclosed. The company's accounts are sold by register services rather than published free, and the most recent set covers 2023. With its 2024 accounts more than a year overdue, its current finances are unknown.

What Cannot Be Checked

Why Europe Should Care

The project cited UN figures of 7 million tonnes of discarded screens in 2019 and noted that indium, a critical raw material in displays, is less than 1% recycled. The EIC backed an Irish attempt to automate this work. The machine was built; whether the company behind it survives is now unclear from the public record.

The Verdict

Peregrine Technologies and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.