UCD spin-out OxyMem has won an award from accelerator Imagine H2O for its wastewater technology.

The Athlone-based firm beat competition from more than 100 companies to win the 2015 Imagine H2O Infrastructure Challenge (Growth Stage) Award. It was one of 12 companies shortlisted, with six in the early stage category and six in the growth stage section, and the only Irish firm to make the list. Valor Water was the recipient of the early stage award.

OxyMem’s technology uses hollow fibre, gas permeable membranes to deliver oxygen directly to micro-organisms in water, which break down the pollutants. That means less energy is required and also lowers costs.

"This accolade gives us incredible traction in the US, and global markets, with end users, partners and venture capital because of its strong track record," OxyMem's managing director Wayne Byrne said.

The annual business competition is hosted each year by the San Francisco-based accelerator, addressing water opportunities. Imagine H2O is a not for profit organisation, founded in 2007.