UCD spinout OxyMem has been named in the 2015 Global Cleantech 100 for its innovative technology that reduces the costs of wastewater treatment.
OxyMem is the only Irish company to make the 2015 list compiled by Cleantech Group, which cites private companies with the highest potential to make the most significant market impact on clean technologies over the next five-to-10 years.
More than 6,000 global companies from 60 countries were nominated for inclusion in the list, announced this week in San Francisco.
OxyMem is working to solve energy intensive wastewater treatment, a global challenge consuming more than 2pc of electricity production, with its Membrane-Aerated Biofilm Reactor (MABR) technology.
Conventional biological processes have been in use for more than 100 years but result in energy losses of more than 70pc because of the reliance on bubbles to deliver oxygen.
Validation for young Irish cleantech company
OxyMem’s drop in solution, MABR, does not rely on bubbles, instead using gas-permeable membranes capable of delivering oxygen directly to the bacteria, resulting in a fourfold energy saving with more compact and lower cost infrastructure.
“To be recognised as a Global Cleantech 100 company is a tremendous validation for OxyMem’s value proposition in the global water market,” says OxyMem CEO Wayne Byrne.
“Our journey with the Cleantech Group began with an introduction from the ISI Centre, and now to know we are on the radar of the world’s venture capital community is a real kickstart to our year.”
“It has been a great year for us, with engagements from some of the largest water utilities in Europe, Asia and North America, but that is just the start as we look forward to extending our impact worldwide. It is no doubt that recognition of our technology by the Cleantech Group will only go to bolster our efforts.”
Aideen O’Hora, Director of Sustainable Innovation for the International Sustainability Investment Centre (ISI Centre), welcomed the news of OxyMem’s nomination.
“OxyMem’s success highlights the vibrancy of Ireland’s cleantech sector, with sectors such as water management now emerging as key growth sector. They are an example to other start-ups; they continually develop new opportunities using networks such as ISI Centre and Cleantech Group to engage, connect and build opportunities.
“Given that global requirement for clean water will increase by 40pc by 2030 there is a growing demand for water technology. Companies such as OxyMem – that are agile and innovative – can respond to this challenge.”
Water treatment image via Shutterstock