FBD and University College Dublin are to invest in new agricultural research and education facilities at UCD Lyons Farm.
FBD Holdings and FBD Trust have pledged a philanthropic contribution of €6m in support of the facility and UCD is providing €8m to bring the combined investment in UCD Lyons Farm to €14m.
The new UCD FBD Agricultural Science Centre will enhance the university's ability to deliver teaching and research to the highest international standards and will be a focal point for all users.
It will provide a centre where researchers, students, innovators and industry experts can collaborate on projects aimed at addressing the most pressing challenges facing modern farming and agriculture.
The investment will also allow for an increase in the number of undergraduate and postgraduate students, and UCD staff studying and researching in the areas of agriculture, veterinary medicine, environmental science, and sustainable production systems.
It will ensure that production agriculture remains at the core of UCD's agricultural science programmes by providing increased opportunities for students to engage in practical, hands-on learning at Lyons Farm and will also facilitate new education programmes in the areas of animal science, animal health, crop science and sustainable food production.
Construction of the new centre is due to start next year.
Michael Berkery, Chairman of FBD Trust, said the investment underscores the company's commitment to supporting Ireland's farming communities, agriculture as a whole and the food industry.
"This investment in agricultural education and research is vital to meet the environmental challenges facing the sector and to continuously improve the competitiveness of Irish farmers and the food industry in global markets. The important teaching and research to be carried out at Lyons Farm aligns with the objectives of FBD Trust to advance the interests of farm families and the farming sector in Ireland," he added.
Tomas Ó Midheach, CEO of FBD Holdings, said the new initiative will foster innovation research and education in the agricultural sector.
"Together with UCD we are dedicated to nurturing the next generation of agricultural scientists who are poised to make a lasting impact on a sustainable future," he added.
Professor Orla Feely, President of UCD, said the partnership with FBD exemplifies UCD's commitment to fostering collaboration and innovation for the betterment of farming, agriculture generally, the food industry and the environment.
"With FBD's generous support and collaboration, we will enhance our ability to enquire, investigate, educate and solve the agriculture problems of the future, and drive positive change for generations to come," Professor Feely said.
Minister for Agriculture Charlie McConalogue said the collaboration between FBD and UCD represents a significant investment in the future of Irish agriculture, reinforcing the country's position as a global leader in sustainable food production.
"Through the development of the new facility at UCD Lyons Farm, both partners are poised to make meaningful contributions to the advancement of agricultural practices and the prosperity of rural communities," he added.
