US chemicals giant DuPont has acquired full ownership of UCD spin-out OxyMem or an undisclosed sum.
OxyMem develops and produces Membrane Aerated Biofilm Reactor (MABR) technology for the treatment and purification of municipal and industrial wastewater.
The Irish company has more than 60 employees and one production site located in Athlone.
“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”
The transaction will close before 31 December, 2019.
Waste not water not
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.”
“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 over 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.”
Written by John Kennedy (email@example.com)
Published: 19 December, 2019