DuPont exercises option to acquire UCD spin-out OxyMem
Published on by Water Network Research, Official research team of The Water Network in Business
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.
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Taxonomy
- Mergers & Acquisitions
- Mergers & Acquisition
- Membrane Aerated Biofilm Reactor (MABR)