OxyMem, founded in 2013 as a UCD spin-out, develops a Membrane Aerated Biofilm Reactor (MABR) that supplies oxygen to wastewater microorganisms via a gas-permeable membrane. The patented technology claims up to 75% cuts in wastewater treatment costs and up to 90% oxygen transfer versus under 30% for conventional bubble aeration. The company has an operating base in Athlone and has won industry awards including InterTrade Ireland Innovation of the Year (2014). By the end of 2014 OxyMem had raised €1.2m in equity and reported a loss of €840,000, with filed accounts projecting further losses for the next three years and substantial revenues anticipated from 2018. Management has sought incremental credibility in a risk-averse water sector while reducing manufacturing costs to market the solution at about 25% less than conventional technologies. OxyMem develops a membranous tubing system that supplies oxygen to bacteria in wastewater tanks with up to 95% transfer efficiency, versus roughly 30% for conventional pumped compressed air. The company says its technology can cut wastewater treatment costs by up to 75% and has reduced manufacturing cost to allow marketing at about 25% less than conventional technologies. OxyMem was co‑founded in 2013 by Professor Eoin Casey and Dr Eoin Syron and has a patent application stemming from Syron’s PhD work on membrane aerated biofilm reactors. The venture operates from a 25,000 sq ft premises in Athlone and currently employs 24 people, with plans to grow headcount to 35 within the next year. Management cites manufacturing scale‑up and building customer credibility in a risk‑averse water industry as principal near‑term challenges. Year‑to‑date the company has raised private funding to support continued product development.

Total raised

$2M

Funding rounds

2

Latest round

Equity

Latest activity

Apr 2016