This waste oil refinery company recently opened a plant in Ohio, USA, which was commissioned last week, and another is in the process of being built in Mississippi. The chance to break the Asian market is a significant move forward for the company.

Kobelco is a subsidiary of Kobe Steel, an environmentally focused company and one of the biggest of its kind in the world.

The visit allowed the Executive Officer of Kobelco Akiliko P.E Jogu, and General Manager of the Solution Technology Sector Ohiraki Kenji to inspect the site and discuss future plans with Hydrodec CEO Mark McNamara, Global Executive, Business Development, Russell Healey, management and staff.

President of Corp 8 Limited Kenichi Fujimoto also attended the inspection, providing Japanese translation. Corp 8 assist western businesses in establishing business in Japan.

Mr Healey said it is hoped that within the next two weeks a Memoriam Of Understanding will be signed, and the Kobelco representatives will assist with a feasibility study into whether Hydrodec can establish a Japanese plant.

“By the end of the year, it is hoped that a deal will be made based on government approvals and product sales,” Mr Healey said.

“This will depend on the feasibility study, which will involve presentations to the Ministry of Environment, Ministry of Trade, as well as potential customers.”

These customers include well known brands Tokyo Electric and Toshiba.

Mr Healey said that since starting Hydrodec five years ago, the company has continued to grow, setting Young as a real player in the global market.

“Without exaggeration, the Hydrodec technology is recognised around the world as the leading waste oil refining technology,” he said.

“This is a great thing for the town, as we employ very capable and experienced people in this high tech industry and will be sending a group to Japan to set up the new plant if a deal is made.”

In the next two months a site in Japan will be selected for the plant.