Institute of Technology Carlow (IT Carlow) spin-out MicroGen Biotech has announced it is to form a joint venture in China with CECEP (China Energy Conservation and Environment Protection Group), a multi-billion dollar Chinese state-owned enterprise with 474 subsidiaries in 60 countries, to explore global opportunities in contaminated land remediation. Separately, MicroGen Biotech has confirmed strategic inward investment into Ireland from ecological restoration company MINEGREEN China that could provide up to Euro 3 million for the Carlow-based start-up.
The announcement is a huge coup for MicroGen Biotech in Ireland, which was established three years ago as an Irish High-Potential Start-Up (HPSU) spin-out from the EnviroCORE research group at IT Carlow, supported by Enterprise Ireland.
The formal announcement was made during an Enterprise Ireland (EI) trade and investment mission to China, led by Minister for Jobs, Enterprise and Innovation Richard Bruton TD.
Established in 2012MicroGen Biotech has successfully developed cost-effective and sustainable biotechnologies and products to remediate contaminated soil and water. The strategic alliance with CECEP will see the two companies working together to explore global opportunities in Contaminated Land Remediation. The initiative will lead to MicroGen Biotech Ireland increasing its Irish workforce in the areas of research & development, marketing and product support suitable for the Chinese market.
Separately, MicroGen Biotech has signed an investment agreement worth Euro 570,000 (4million RMB) with MINEGREEN, a Chinese ecological restoration company in Shanxi province, dedicated to mining area ecological restoration and land remediation implementation. Microgen will work with MINEGREEN to clean up three large demolished coking and chemical plants with a potential market value of Euro 300million that could provide revenues of up to €3m for the Irish company. The investment signing was witnessed by Irish Minister for Jobs, Enterprise and Innovation Richard Bruton TD and Chinese Shanxi Province Vice Governor Wang Yixin during the Minister’s recent trade mission visit to China
MicroGen Biotech has also signed a Memorandum of Understanding (MOU) with IAER SAAS (China Shanxi Province Agriculture Academy of Science) to collaborate on R&D. The MOU will see MicroGen Biotech collaborate with Shanxi Province Agriculture Academy of Science in using biotechnology to treat mining site contamination and biofertiliser to increase farmland yields.
Speaking from Beijing Minister Bruton said: “MicroGen Biotech is a highly innovative young Irish company and an excellent case study of how creating a strong start-up environment can help companies grow and develop, right through to becoming a commercial reality. I visited CECEP DADI last year in June 2014 and was struck by the potential for collaboration between Irish clean-tech companies and Chinese companies. A year later, it is a great pleasure to witness MicroGen making such impressive progress in China. The proposed joint venture with CECEP DADI, together with the opportunity for further collaboration with Chinese research institutions and companies, will ultimately result in more highly skilled jobs in research and development at MicroGen’s head office in Ireland. It is an inspiring story for Irish start-ups”.
Dr Xuemei Germaine, CEO of MicroGen Biotech and a doctoral graduate of IT Carlow, is very excited about their rapid progress in the Chinese market: “We are extremely pleased with the progress we have made with CECEP DADI, MINEGREEN and IAER SAAS. We have moved to a very exciting stage of development with these new partnerships. The partnership with CECEP DADI and MINEGREEN will help us to gain access to many large remediation projects in the coming years and increase our visibility in this market”, she commented.
Photo caption:
MicroGenbiotech signs strategic alliances in China’s Soil Remediation Market
IT Carlow Spin-out MicroGenbiotech Ltd. has announced details of strategic alliances in the Chinese soil remediation market with MINEGREEN and CECEP DADI. Pictured are Xuemei Germaine, MicroGen (Front, Left) and Mr Yang Xuequan, Chairman MINEGREEN (Front, Right) signing contracts witnessed by Minister for Jobs, Enterprise & Innovation Richard Bruton TD and officials during the China Trade Mission
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Institute of Technology Carlow spin-out company MicroGen Biotech wins Several Strategic Investments and Alliances in China’s Soil Remediation Market
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