MYTILINEOS SA announces the signing of the agreement for the acquisition
of 60% in ZEOLOGIC SA, a company headquartered in Thessaloniki, that provides
innovative solutions in solid and liquid waste treatment.
ZEOLOGIC, is a Greek start-up company set-up in 2014, to take advantage of the
internationally patented technology based on the geochemical processing
(Geochemical Active Clay Sedimentation – GACS) for liquid and solid waste
treatment.
The use of this pioneering technology allows high pollutant industries to reduce
their environmental footprint, offering competitive solutions across a wide spectrum
of industrial waste applications.
GACS technology provides solutions in a broad range of environmental issues,
such as waste of the oil & gas industries, mining activity, shipping industry as well
as in the municipal solid waste sector.
ZEOLOGIC treats in its own facilities and supplies the waste treatment units it
executes, with the required chemical consumables to ensure their long-term
operation.
The strategic cooperation with MYTILINEOS will enable ZEOLOGIC to penetrate
new international markets and further to develop its innovative technologies into
new applications.
MYTILINEOS EPC & Infrastructure Projects Business Unit will benefit from this
participation by further extending its activity in the area of Environmental Projects
and circular economy, through:
- a dynamic entry in the liquid and solid waste treatment market with competitive and innovative solutions
- an expansion into new business segments providing high value adding solutions
ZEOLOGIC possesses the necessary patents, which form the basis of the GACS
technology; those patents have been developed by the company’s founder who
remains a minority shareholder.
The total consideration will stand at €4,000,000; of which, €2,000,000 will be paid
within a 3-year period, subject to the achievement of specific profitability targets.
Through this partnership, MYTILINEOS confirms its solid commitment to
sustainable development and innovation, centered around environmental
conservation and in reducing the industrial environmental footprint throughout the
industrial production cycle.
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