Global investment banking firm Goldman Sachs has invested $10m in Bedminster International, a waste to energy biotechnology company controlled by Irish businessman Bill McCabe.
Industry sources say the company is now valued at $100m.
Mr McCabe said the investment will facilitate the further expansion of the company's interests globally. There are already a number of successful Bedminster facilities worldwide.
The company's 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 company says its technology offers a viable solution to the landfill issue in the treatment of waste.
Bedminster is currently in talks for a number of major municipal contracts both in Europe - including two in Ireland - and North America.
