Applied Intellectual Capital Ltd Collaboration Agreement with University College Dublin
RedOx Biofuels and researchers at University College Dublin sign agreement to convert post-consumer waste into bio-degradable plastics
Dublin, 9 May 2008: Applied Intellectual Capital (“AIC”) (AIM: AINC) and RedOx Biofuels (“RedOx”), a wholly-owned subsidiary of AIC, have today announced a new collaborative scientific research agreement with Dr Kevin O’Connor from University College Dublin’s (UCD) School of Biomolecular and Biomedical Science, to investigate methods of converting post-consumer waste into bio-degradable plastics.
By combining Dr O’Connor’s patent-pending microbiological technology and AIC/RedOx’s proprietary technology (mediated metal redox (“MMR”)), the proposal is to convert several waste streams into bio-degradable plastics which can be used in a variety of forms ranging from plastic bottles to surgical parts thereby replacing traditional fossil fuel-based plastics. The collaboration may also be extended in the future to produce other value added products like bio-fuels from waste.
“This agreement with Dr Kevin O’Connor and his team at University College Dublin offers RedOx exciting new potential avenues for converting consumer waste streams into value-added products,” says Kim Ogaard-Nielsen, CEO of RedOx. “We are very excited by this additional branch to our business activity.”
“Power and diversity can meet with extraordinary results at the interface between chemistry and biology,” says Dr Kevin O’Connor, UCD. “This new collaboration with AIC/RedOx shows how chemo-biological synergy can offer real solutions for waste by using it to generate value added products.”
ENDS
9 May 2008
Editors Notes
AIC is an AIM listed company that funds, develops, patents and commercialises electrochemical and advanced separations technologies in clean energy, electricity storage, water treatment, metals recovery and other emerging markets. AIC listed on AIM in January 2007 and currently has a market capitalisation of approximately £107 million.
RedOx is a wholly-owned subsidiary of AIC that uses its proprietary Metal Mediated Reduction Oxidation (MMR) synthesis technology to make ethanol, other biofuels, and high-value chemicals. RedOx aim is to reduce the global dependence on fossil fuels and products by making the production of biofuels and products more cost effective.
Dr Kevin O’Connor’s research at University College Dublin has resulted in the creation of a unique patent-pending technology for the conversion of post consumer waste to biodegradable plastic. The research involves applying the diversity of the microbial world to converting previously considered dead-end products to value added commodities. This is achieved using molecular tools as well as bioprocess manipulations.
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