Irish BioEnergy Company Bedminster Secures Significant Contract with Samsung Heavy Industries in Korea and South East Asia

Irish BioEnergy technology providers, Bedminster International, today Tuesday, (13^th October 2009) announced that they have secured a significant contract with Samsung Heavy Industries in Korea and South East Asia.

The technology license and engineering service agreement will utilise the Bedminster BioEnergy Technology in Samsung’s new waste management operations. The deal has an initial value of $4m and secures up to 20 jobs in the company, with considerable potential to expand over the next 2 years.  Bedminster is an Enterprise Ireland client company operating in the cleantech sector providing bioenergy technology and related engineering services

Bedminster and Samsung signed the agreement in Dublin this morning in the presence of H.E. Ambassador Tae yong Cho and Second Secretary, Ms. Gye-yoen Cho, from the Embassy of the Republic of Korea in Ireland.

Announcing the agreement Mr. Chunhak Kim, Executive Director of Samsung Heavy Industries said:

“Waste management is a huge global issue and Samsung Heavy Industries is well equipped to delivery a safe sustainable solution in Korea and overseas. In our global search for a reliable MBT technology partner, we were extremely impressed with Bedminster management and our technical team found the Bedminster technology to be robust, economic and safe, with several reference facilities to prove it worked.

Bill McCabe, Chairman of Bedminster International said:

“Bedminster is delighted to have come through a comprehensive selection process in the face of some strong international competition. This Agreement represents the beginning of an exceptional opportunity for both companies in deploying proven biological treatment within the vast waste sector.

“The decision of Samsung Heavy Industries to select our BioEnergy Technology is particularly good news for Bedminster. It will ensure significant company growth over the coming years”

“Our combined engineering resource will now focus on building the first Samsung showcase in Korea, whilst our sales teams will work together to develop new markets, including the Middle East and South America. We will also collaborate on maintaining the Intellectual Property.”

Congratulating Bedminster on its announcement, the Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan T.D said:

“I’d like to warmly congratulate Bedminster on securing this significant contract. To establish a partnership with Samsung Heavy Industries, a world leader in many markets is a remarkable achievement for an entrepreneurial Irish company. Bedminster is a strong example of the success that specialised Irish companies can achieve by offering world class technologies and customer-focussed solutions. I wish them every success in this partnership and in their future export growth plans”

Frank Ryan, CEO of Enterprise Ireland added:

“The Bedminster offering is an important Irish-owned green technology and worldwide demand for such products and services is growing rapidly. Enterprise Ireland is focused on helping Irish cleantech companies increase their international reach by building their internal exporting capability and introducing them quickly to international market opportunities in key overseas markets. We are delighted that the support we gave Bedminster during their negotiations with Samsung helped secure this very significant contract."

The Ambassador for the Republic of Korea added his best wishes to the partnership commenting:

“The promotion of a 'Green Growth, Low Carbon’ policy is currently the Korean government's leading priority and partnerships such as this certainly represent a significant step forward in the direction of a greener, more sustainable future”.

Bedminster International is the Irish entrepreneurial company leading the green movement in the conversion of municipal waste to compost and/or fuel for green renewable energy. For many years the patented Bedminster Digester/MBT Technology has been successfully deployed in the separation and conversion of waste worldwide. Bedminster has 12 operations already in North America, Australia and Japan, along with new facilities under construction in Cheshire England and the Caribbean.

Formed in 1974, Samsung Heavy Industries, a wholly owned subsidiary of the world renowned Samsung Group, has built up annual revenues of $10bn as a world leader in the shipbuilding, offshore plant, Engineering & Construction, and digital system industries. Early in 2008 the Company decided to enter the Korean waste management sector and elected Mechanical Biological Treatment (MBT) as its preferred technology.

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