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Greenstar forms €40 million partnership with Bedminster
Greenstar and Bedminster to lead the way in development
of national composting infrastructure
Greenstar, Ireland's largest integrated waste management
company, today (Monday, 28th November 2005) announced a strategic
partnership with Bedminster International, the bio-treatment
technology company controlled by Oyster Capital, to develop
state-of-the-art bio-waste infrastructure throughout Ireland.
The project involves the investment of circa €40 million
over three years and will assist the company achieve its objective
to maximise the diversion of biodegradable municipal waste
(BMW) from landfill. The proposed facilities, which are subject
to site selection, planning and licensing, will service specific
waste regions.
Ireland's proposed national biowaste strategy, as laid out
in the Government's 1998 policy document "Changing our
Ways", requires the diversion of 50% of household waste
and 65% of biodegradable municipal waste from landfill by
the year 2013. The policy requires that alternative waste
management methods are found to treat circa 300,000 tonnes
of biodegradable municipal waste per annum thereafter. Once
all plants are operational, the new joint venture expects
to handle over 100,000 tonnes of organic material per annum.
The project will also bring Ireland a step closer to meeting
its obligations under the EU Landfill Directive, which is
due to be enacted into Irish law within the coming 12 months.
It will also help Ireland reduce carbon emissions as required
under the Kyoto Protocol.
The patented Bedminster bio-energy technology uses a biological
process to convert the organic material by way of a digesting
system to a clean bio-fuel, which has the same energy value
as peat. The investment in composting infrastructure is part
of an ambitious expansion plan announced by Greenstar earlier
in the year.
Steve Cowman, chief executive of Greenstar, commented on
waste management infrastructure in Ireland; "As the amount
of waste we produce continues to soar, the only option is
to invest significantly in infrastructure that will allow
us meet our legislative obligations in the short term and
reduce costs and environmental impacts in the medium to long
term. In the future, much attention will focus on diverting
organic waste from landfill, recovering the resource and deriving
valuable horticultural product or engineering material as
a result, and we in Greenstar will be at the forefront of
providing solutions in this regard."
On the partnership, Cowman stated that; "Our decision
to utilise the technology developed by Bedminster International
is testimony to its track record across the globe. It is the
most efficient, environmentally positive solution available
and, coupled with Greenstar's success in waste management
infrastructure development, we are very encouraged about what
can be achieved by this partnership".
Martin Scully, chief executive, Oyster Capital said: "This
agreement with Greenstar will see the introduction to Ireland
of the unique Bedminster technology for the treatment of organic
waste in a most effective and efficient manner."
"Bedminster International continues to expand internationally
in several major markets where it is used to convert organic
material to compost and biofuel with the added benefits of
significant volume reduction, the elimination of gases and
leachate and the diversion of waste from landfill" he
added. "Two thirds of the average waste stream is organic
and the Bedminster Technology converts this into a high quality
carbon neutral biofuel that can be used as a substitute for
fossil fuel in the production of energy, which will greatly
assist our emission reduction requirements under the EU Emissions
Trading Scheme in line with the Kyoto Protocol."
Earlier this year, Bedminster, a wholly owned subsidiary
of the Bill McCabe-chaired Oyster Capital, signed a $200 million
25-year deal in New York for the treatment of 400 tonnes of
organic waste per day with Tully Environmental.
ENDS
28/11/05
For further information: Please contact Oonagh Daly, Drury Communications, tel: 01-2605000 or mobile 0878554406.
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