Multimillion global deals pay off for water tech firm SCFI
SCFI, a Cork-based wastewater technology firm backed by telecoms and technology entrepreneur Gilbert Little, is engaged in six multimillion euro projects around the world, it is understood.
Though the firm has failed to win two other projects in Alaska and California in recent months, it is actively engaged on six long-term projects that are at various stages in Spain, Qatar, Saudi Arabia, Italy and two in California. Their respective value is believed to range from €8.5m to about €85m, and from demonstration size, right up to large-scale installations.
Typically they involve an alliance with a strategic partner, which sometimes will provide some of the finance for them.
SCFI is led by serial entrepreneur and qualified chemist John O'Regan, who sold his wastewater treatment and process manufacturing firm Envirotech to Irish conglomerate DCC in 2001.
The firm is believed to be earning revenues from two California projects. In 2010 it sold a 10pc stake to investment and wealth management firm Key Capital, which remains a shareholder, as do Little and O'Regan. The firm's patented Aquacritox environmentally-friendly technology reduces wet waste sludges from sewage and wastewater treatment, as well as a number of industrial processes, that would otherwise be spread on fields (in the case of sewage sludge) landfilled or incinerated.
Aquacritox works when water is in a 'supercritical' state, at a temperature above 374 degrees and a pressure above 221 bar.
It is as effective as incineration but cleaner, with none of the harmful by-products. The technology generates more renewable energy than it consumes, while also eliminating the need for chemicals to be used in certain sewage treatment processes and reducing greenhouse gas emissions.
SCFI and Mr O'Regan did not return calls or emails seeking comment.
Sunday Indo Business