The heavy construction arm of Korean conglomerate Samsung Group has signed a licensing deal that will allow it to use the technology of Irish company Bedminster International, as both companies expand their waste operations
The licensing agreement, valued at $4 million, will allow Samsung Heavy Industries to use Bedminster’s mechanical biological treatment technology for converting waste to renewable energy.
Bedminster’s bio-energy technology involves a patented process that uses a digester to separate waste into biodegradable and non-biodegradable fractions to create biofuel and industrial materials respectively.
Under the deal, Samsung Heavy Industries will be able to use the technology over the next two years.
Samsung Heavy Industries in early 2008 decided to enter the Korean waste management sector and chose mechanical biological treatment as its preferred technology.
Pearse O’Kane, Bedminster’s chief executive, said his company went through an international selection process conducted by Samsung Heavy Industries.
“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 said in a statement.
For now, the deal with Samsung covers an engineering service agreement in a yet unnamed country in Southeast Asia.
Experts say developing countries are potentially lucrative locations for waste-to-energy projects. In October, a World Bank-sponsored forum in the Philippines said the country is an abundant source of methane which is 21 times more potent than carbon dioxide. Consequently, most of the Philippines Clean Development Mechanism projects are in methane recovery from waste.
Bedminster International is a member of Enterprise Ireland which helps Irish low-carbon technology companies increase their global reach by introducing them quickly to international market opportunities.