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19/10/2011 - Cleantech Ventures invest in Renex Soil Remediation Company

Cleantech Ventures and an institutional investor have completed an investment of up to $20m in Renex Holdings (Dandenong) 1 Pty Ltd.

Renex has been established to develop a soil remediation facility in Dandenong South, Victoria utilising a world leading technology solution. Soil remediation is the process of treating contaminated soil (contaminated for example by oil leaks at petrol stations and old manufacturing sites).

Last financial year nearly 12,000 t of Category B and about 360,000 t of Category C contaminated soil was disposed to landfill. In 2007, the Victorian government announced a target of zero high hazard waste to landfill by 2020. This facility helps Victoria to achieve this target.

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