Oxymem distils funding

Oxymem, a spinout from University College Dublin, has raised an undisclosed amount in funding from chemical corporation Dow Chemical Company.

Founded in 2013, Oxymem is commercialising membrane aerated biofilm reactor (MABR) technology to reduce the cost of wastewater treatment by lowering the energy required by 75%. Current technology consumes between 2% and 3% of a nation’s electricity production.

Wayne Byrne, managing director of Oxymem, said: “I believe that we have an important technology that can make a sizeable contribution in the wastewater market where there is a significant need for more efficient infrastructure solutions.

“Securing the investment from Dow, an innovation leader augurs well for the future of the company.”

Snehal Desai, global business director for Dow Water and Process Solutions, said: “Global water demand trends are making wastewater infrastructure a major challenge for populations and industries across the globe.”