DuPont Exercises Option to Acquire 小鸟体育 Spin-out OxyMem
(NYSE: DD) today announced it has exercised its option to acquire full ownership of a University College Dublin (小鸟体育) spin-out company.
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 Dec. 31, 2019.
鈥淢ABR is a new technology that offers unique and differentiated performance for secondary wastewater treatment over existing technologies,鈥� 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 小鸟体育 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.
鈥淢ABR is a new technology that offers unique and differentiated performance for secondary wastewater treatment over existing technologies,鈥� added HP Nanda.
鈥淲astewater 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.鈥�
鈥淥xyMem 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,鈥� said Wayne Byrne, CEO, OxyMem Limited.
鈥淲ith 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.鈥�
Tom Flanagan, 小鸟体育 Director of Enterprise and Commercialisation, said, 鈥淚 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 小鸟体育 spin-out company.鈥�
鈥淥xyMem, established to commercialise world-class 小鸟体育 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 Nova小鸟体育. While only established in 2013, OxyMem had already grown significantly, employing over 60 people, with a manufacturing site in Athlone and secured significant investment and major clients around the world.鈥�
鈥淚 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.鈥�
DuPont is a leader in water purification and separation technology including ultrafiltration, reverse osmosis and ion exchange resins. The FilmTec鈩� 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.
ENDS
18 December 2019
For further information contact: Dan Turner, DuPont Media, e: daniel.a.turner@dupont.com or Mic茅al Whelan, University College Dublin, Communications and Media Relations Manager, 小鸟体育 Research and Innovation, e: miceal.whelan@ucd.ie, t: + 353 1 716 3712.
Editors Notes
DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, health and wellness, food and worker safety. .
DuPont Safety & Construction is a global leader in delivering innovation for life鈥檚 essential needs in water, shelter and safety; enabling its customers to win through unique capabilities, global scale and iconic brands including DuPont鈩� Corian庐, Kevlar庐, Nomex庐, Tyvek庐, GreatStuff鈩�, Styrofoam鈩� and FilmTec鈩�. .