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Irish BioEnergy
technology company Bedminster International
has signed a €117million agreement with
WeCare Holdings of New York for a
waste-treatment facility in the United
States. The deal involves a 20-year contract
for treatment of municipal waste in the city
of Marlboro MA.
According to
Bedminster’s chief executive, Pearse
O’Kane, the company’s patented
BioEnergy technology uses a biological
process to convert biodegradable waste into a
high quality compost, or biofuel for use in
the production of renewable energy. WeCare
has access to more than a million tonnes of
waste per annum and also has several sites
that are potentially suitable for the
installation of the Bedminster technology.
Work on the deal started in June 2005 when
Bedminster approached WeCare as a
well-established waste processor - the two
companies joined forces to explore landfill
diversion in the north-east US.
Taoiseach Bertie Ahern said this deal
highlights the potential that exists for
Irish companies to provide innovative
technological solutions with international
potential.
‘‘This can be
demonstrated by the fact that there are 12
Bedminster plants operating throughout North
America, Australia and Japan, and I am told
that planning is now well advanced for
several new facilities in North America, the
UK and Ireland, including one in Portlaw, Co
Waterford.”
Formed in 2003,
Bedminster has its headquarters in Dublin and
is owned by Oyster Capital, a diversified
investment company whose chairman and
majority shareholder is Bill McCabe. Goldman
Sachs, the international investment banking
firm, recently made an initial equity
investment in the business.
McCabe said that the
agreement with WeCare Holdings marks another
significant expansion of Bedminster
International.
‘‘Bedminster’s technology
offers a unique solution to two
ever-increasing global issues - waste
treatment and energy generation. Our
technology is an environmentally friendly
solution to the waste problem and, in
addition, an opportunity to produce
fossil-free renewable energy.”
Bedminster’s
turnover for 2006 is €12 million,
forecast to increase to over €30 million
by 2008. They employ 35 people in their
Dublin and Boston offices.
WeCare Holdings is a
waste management group with its headquarters
in Jordan, New York.
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