DuPont exercises option to acquire UCD spin-out OxyMem
13 January 2020
DuPont has announced that it has exercised its option to acquire full ownership of OxyMem Limited, a University College Dublin (UCD) spin-out company
L-R: At University College Dublin are Wayne Byrne, Dr Eoin Syron and Professor Eoin Casey, the co-founders of OxyMem a spin-out company from the UCD School of Chemical and Bioprocess Engineering. Image: OxyMem.
DuPont has announced that it has exercised its option to acquire full ownership of OxyMem Limited, a University College Dublin (UCD) spin-out company.
Technology for treatment and purification of municipal and industrial wastewater
OxyMem develops and produces Membrane Aerated Biofilm Reactor (MABR) technology for the treatment and purification of municipal and industrial wastewater.
The company has more than 60 employees and one production site located in Athlone, Co Westmeath. The transaction will close before December 31, 2019.
“MABR is a new technology that offers unique and differentiated performance for secondary wastewater treatment over existing technologies,” said, HP Nanda, global vice-president and general manager, DuPont Water Solutions.
OxyMem was co-founded by Wayne Byrne, Professor Eoin Casey and Dr Eoin Syron in 2013 as a spin-out from the UCD School of Chemical and Bioprocess Engineering.
The company is engaged in the development, manufacturing and sales of MABR units using patented technology for hollow fiber, silicone polydimethylsiloxane (PDMS) membranes to treat wastewater. DuPont already owns 31 percent of the company and has exercised its option to acquire all outstanding shares of OxyMem for 100 percent ownership.
“MABR is a new technology that offers unique and differentiated performance for secondary wastewater treatment over existing technologies,” added HP Nanda.
‘Fast-growing global market driven by industrial expansion’
“Wastewater is a fast-growing global market driven by industrial expansion, challenging water conditions and tightening regulations.
“Together with the MEMCOR MBR product DuPont is acquiring, this additional emerging technology provides more solutions for customers looking to reduce footprint and energy requirements for secondary wastewater treatment and enhances the performance of systems using other traditional water purification, reuse and recovery technologies.”
“OxyMem has benefited from working with DuPont, as an investor, for the last four years. A world-class water business, DuPont helped us refocus our development efforts to advance our Membrane Aerated Biofilm Reactor (MABR) technology,” said Wayne Byrne, CEO, OxyMem Limited.
“With the ownership of DuPont, we look forward to scaling MABR to meet the growing demand for the treatment and purification of municipal and industrial wastewater.”
Tom Flanagan, UCD director of enterprise and commercialisation, said: “I would like to congratulate the founders of OxyMem, Wayne Byrne, Professor Eoin Casey and Dr Eoin Syron, and the entire OxyMem team, following the announcement by DuPont that it is acquiring the UCD spin-out company.”
Commercialise world-class UCD research outputs
“OxyMem, established to commercialise world-class UCD research outputs, is an excellent example of the quality of companies emerging from the University over the last number of years with the support of NovaUCD.
“While only established in 2013, OxyMem had already grown significantly, employing more than 60 people, with a manufacturing site in Athlone and secured significant investment and major clients around the world.”
“I would like to wish the OxyMem team continuing success as part of DuPont as it scales to meet the growing global demand for the MABR technology to treat wastewater.”
DuPont is a leader in water purification and separation technology including ultrafiltration, reverse osmosis and ion exchange resins.
The FilmTec™ brand is recognized globally and known for consistent and reliable performance. Each of the acquisitions announced this year supports our strategy to drive growth and innovation through access to new manufacturing capabilities, geographies and technologies.http://www.engineersjournal.ie/2020/01/13/dupont-exercises-option-to-acquire-ucd-spin-out-oxymem/http://www.engineersjournal.ie/wp-content/uploads/2019/12/a1-47-1024x735.jpghttp://www.engineersjournal.ie/wp-content/uploads/2019/12/a1-47-300x300.jpgNewsNovaUCD,startups,wasterwater