Life Sciences and Energy

OxyMem among top 30 companies shortlisted for the GCCA 2014 Later Stage Awards

By Business & Finance
21 October 2014
Pictured are Dr Eoin Syron, co-founder and Wayne Byrne, CEO, OxyMem
Pictured are Dr Eoin Syron, co-founder and Wayne Byrne, CEO, OxyMem

OxyMem,  the UCD spin-out, is among the top 30 companies shortlisted for the Global Cleantech Cluster Association (GCCA) 2014 Later Stage Awards.

The prestigious top 30 consists of mid to late stage companies that originate from a variety of cleantech industries and have a proven track record in their home market, with the goal to expand internationally.

Using the Keystone Compact method, each shortlisted company was evaluated based on its position for value capture in its industry and investment grade.

Dr Peter Adriaens, head judge of the GCCA 2014 Later Stage Awards and developer of the Keystone Compact said: “The 2014 global top 30 companies exhibit market strength, breakthrough innovation, and a competitive position for growth. Determining the nominations from over 100 to 30 follows a competitive and robust analytic process and the top 30 represents some of the world’s most esteemed cleantech companies based on potential ‘investability’ in their various cleantech industry sectors.”

OxyMem was co-founded in 2013 by Professor Eoin Casey and Dr Eoin Syron as spin-out from UCD’s School of Chemical and Bioprocess Engineering. OxyMem is commercialising a breakthrough UCD technology, the Membrane Aerated Biofilm Reactor (MABR), to address the global need for a more energy efficient aeration solution for wastewater treatment.

The OxyMem MABR is a bubbleless aeration system which dramatically reduces the biggest consumable of the water industry, energy. The OxyMem MABR exploits gas permeable membrane technology to deliver Oxygen directly to pollutant degrading micro-organisms, eliminating the need for bubbles and reducing the energy consumption by 75%.

OxyMem was nominated for these Awards by Ireland’s The Green Way which joined the Global Cleantech Cluster Association in 2011.

Wayne Byrne, Managing Director, OxyMem said: “The prestigious nature of the recognition for MABR technology by the GCCA independent assessors validates our view that MABR is fast becoming a technology consideration for anyone seeking to achieve energy neutral wastewater treatment. We believe MABR offers one of the most promising developments within the wastewater cleantech industry since the Activated Sludge, 100 years ago.”

The finalists will now be judged by a panel of cleantech venture capitalists, investors and serial entrepreneurs who collectively manage $3.5bn in clean technology investment.

Winners in the 10 Later Stage Award categories, plus one grand prize winner, will be announced at the 5th annual Cleantech Investing Seminar to be held in Lausanne, Switzerland on December 3rd 2014.