Orthios has confirmed its purchase of the former Anglesey Aluminium site in Holyhead.
The site will be used for its new Combined Food and Power™ plant - which looks set to bring hundreds of jobs to the area.
Called Orthios Eco Park Anglesey, the project will see over 500 permanent jobs and 1,200 construction jobs created before 2018. The company launched the project today with a formal event at the site, alongside local MP Albert Owen and many other supporters.
Mr Owen said: “Over the next few years, the eco park has the potential to be a catalyst in giving the local economy a much needed boost.
“The company intends to liaise with businesses, training providers and schools in the area – the benefits of which will be seen in the local and regional economy - as well as providing career opportunities.”
Orthios has already employed 20 full-time members of staff, most of whom used to be full-time employees at Anglesey Aluminium, with an additional 17-year-old engineering apprentice and a young masters graduate - both locals to the island.
Lewis LeVasseur, chief operations officer at Orthios said: “Orthios Eco Park Anglesey is a Combined Food and Power™ solution where residual heat from the power process enhances the growth of valuable fish and vegetables.
"The impact for the island's population is the diverse range of skill-sets that will be required to run and manage the eco park. We envisage conservatively requiring 550 full time permanent jobs on the eco park.
"Power, food and water are the key components for a thriving, stable community and economy. Orthios Eco Parks fulfils this need and backs it up with long-term, meaningful employment that provides a future and enables a community to grow.”
Isle of Anglesey council leader and economic development portfolio holder, Councillor Ieuan Williams, said: “The official launch of Orthios marks a significant economic milestone for the Isle of Anglesey - a milestone which we at the Isle of Anglesey County Council welcome wholeheartedly.
"This is an exciting and innovative project which has the potential to provide a significant boost to the local economy. The Orthios development is set to create some 500 long-term, quality jobs. This is a fantastic opportunity for the local workforce.
"The supply chain opportunities will also be there for local businesses and we look forward to a continued partnership, working with the Orthios group, to ensure these opportunities are maximised."
For more info about Orthios and its Anglesey eco park plans, visit the website.