Oyster Technology and AES form joint venture

Investment fund Oyster Technology Investments and waste management company Advanced Environmental Solutions (AES) are to form a joint venture for waste treatment in Ireland.

The joint venture company - Bedminster Ireland - will offer a proven integrated recycling and composting technique to local authorities and companies throughout the country for the biological treatment of waste.

Bedminster technology is designed to reduce dependence on landfill and provide a safe and viable alternative to thermal disposal routes. It is currently in operation in 10 sites around the world, including the United States, Canada, Australia and Japan.

Worldwide rights to the composting technology have been acquired by Oyster Technology Investments.

Pearse O’Kane, Chief Executive, Bedminster International, said: "The prime objective of this joint venture is to create a new dynamic in the waste industry in Ireland by offering a proven solution to the ever increasing waste problem.

"Costing approximately €10m for the initial Bedminster facility, it will be capable of converting the organic fraction of 50,000 tonnes per year of municipal waste into a versatile compost," he added.

AES has invested over €50m in acquiring 15 businesses and spent a further €15m to date upgrading nine of its sites.

The company, which currently employs 206 people, manages in excess of 340,000 tonnes of waste annually.