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Category: Investment, Energy
Samsung Heavy Industries Aims To Go Green With Help From Irish BioEnergy Company Bedminster International
DUBLIN, Ireland - November 6, 2009 - In an alliance that underscores Bedminster International's authority as a global BioEnergy technology provider, the Ireland-based company recently teamed with Samsung Heavy Industries to assist with waste management in Korea and southeast Asia. The contract aims to deploy Bedminster's Mechanical Biological Treatment technology to effectively convert waste into clean, useable energy.
The deal, which was finalized in Dublin last month, will license Bedminster International's new waste management technology to Samsung for use over the next two years. In addition to the licensing agreement, they also reached an engineering service agreement that will open up to 20 new jobs for in Southeast Asia, bringing the total value of the contract to $4 million.
"Waste management is a major global issue, and Samsung Heavy Industries is well equipped to deliver a safe, sustainable solution in Korea and overseas," said the executive director of Samsung Heavy Industries, Chunhak Kim. "In our global search for a reliable MBT technology partner, we were extremely impressed with Bedminster management and our technical team found the Bedminster technology to be robust, economic and safe, with several reference facilities to prove it worked."
Bedminster International is a member of Enterprise Ireland that operates in the cleantech sector, providing BioEnergy technology and related engineering services to clients around the world. Services it provides range from licensing of intellectual property to engineering service agreements that send Bedminster employees around the world. Securing the recent deal with Samsung Heavy Industries ensures worldwide company growth for Bedminster International, as both companies aim to expand to new markets in the Middle East and South America.
"Bedminster is delighted to have come through a comprehensive selection process in the face of some strong international competition," said Bedminster International CEO Pearce O'Kane. "This agreement represents the beginning of an exceptional opportunity for both companies in deploying proven biological treatment within the vast waste sector."
The recent deal drew praise from high-ranking officials around the world, including Ireland's Deputy Prime Minister and Minister for Enterprise, Trade, and Employment Mary Coughlan; the Ambassador for the Republic of Korea; and the Second Secretary from the Embassy of the Republic of Korea in Ireland, Gyeyoen Cho.
"Enterprise Ireland is focused on helping Irish cleantech companies increase their international reach by building their internal exporting capability and introducing them quickly to international market opportunities in key overseas markets," said Frank Ryan, CEO of Enterprise Ireland. "We are delighted that the support we gave Bedminster during their negotiations with Samsung helped secure this very significant contract."
Bedminster International is the Irish entrepreneurial company leading the green movement in the conversion of municipal waste to compost and/or fuel for green renewable energy. For many years the patented Bedminster Digester/MBT Technology has been successfully deployed in the separation and conversion of waste worldwide. Bedminster has 12 operations already in North America, Australia and Japan, along with new facilities under construction in England and the Caribbean.
Formed in 1974, Samsung Heavy Industries, a wholly owned subsidiary of the world renowned Samsung Group, has built up annual revenues of $10 billion as a world leader in the shipbuilding, offshore plant, engineering & construction, and digital system industries. Early in 2008 the company decided to enter the Korean waste management sector and elected Mechanical Biological Treatment (MBT) as its preferred technology.
For additional information, contact:
Ciara O'Mahony
Enterprise Ireland
01 7272284/087 2043435
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