Bedminster International, the waste-to-energy biotechnology company, today announced that Goldman Sachs, the global investment banking firm, has made an initial equity investment in the business of $10 million.
The patented Bedminster technology uses a biological process to convert organic material to a high quality fossil fuel substitute for use in the production of renewable energy. The bulk of typical municipal waste throughout the world is biodegradable and the Bedminster technology extracts the biodegradable fraction from waste streams and converts in into biofuel.
The Bedminster technology offers a viable and proven scalable solution to the landfill issue in the treatment of waste. Stringent EU legislation now requires biodegradable waste to be diverted from landfill, making it a major environmental issue for municipalities across Europe.
Bedminster International is owned by Oyster Capital, a diversified investment company whose chairman and majority shareholder is Mr. Bill McCabe.
Today Mr. McCabe said that the investment by Goldman Sachs will facilitate the further expansion of Bedminster International’s interests globally. There are already a number of successful Bedminster facilities worldwide.
“Bedminster International offers a unique solution to two ever-increasing global issues – waste treatment and energy generation. Our technology is an environmentally-friendly solution to the waste problem and, in addition, an opportunity to produce fossil-free renewable energy” Mr. McCabe said.
He added that Bedminster is currently in negotiations for a number of significant municipal contracts both in Europe, including two in Ireland, and North America.
Mr. Pierre-Henri Flamand, Managing Director, Goldman Sachs said: “As interest in identifying effective solutions to environmental issues increases, we are delighted to be an investor in Bedminster International and to support its global initiatives. We anticipate significant growth in this sector and look forward to Bedminster being at the forefront of this development.”