Two units of the County Fire Service responded to the scene at welding firm C and B Services in Millennium Court, Foxhole shortly before 9.30am, after an oil tank exploded as a plasma cutter was being used.
The injured man was knocked unconscious and is also understood to have sustained burns in the explosion.
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He was airlifted to Cork University Hospital for treatment.
Health and Safety Authority inspectors are en route to the scene to begin their investigation into the cause of the incident.
