US chemicals group, DuPont, has announced it has exercised its option to acquire full ownership of Irish company, OxyMem Limited.

The company develops and produces Membrane Aerated Biofilm Reactor technology for the treatment and purification of municipal and industrial wastewater. 

OxyMem has more than 60 employees and one production site located in Athlone.

Tom Flanagan, UCD Director of Enterprise and Commercialisation, welcomed the news that DuPont is acquiring the UCD spin-out company, and congratulated foundersof OxyMem, Wayne Byrne, Professor Eoin Casey and Dr Eoin Syron, and the OxyMem team.

"OxyMem, established to commercialise world-class UCD research outputs, is an excellent example of the quality of companies emerging from the University over the last number of years with the support of NovaUCD," he said. "While only established in 2013, OxyMem had already grown significantly, employing over 60 people, with a manufacturing site in Athlone and secured significant investment and major clients around the world."