Public feedback sought on TERAX governance structure
25 November 2012
Rotorua District Council is seeking community feedback on a proposed Limited Partnership structure between the council and Scion.
This legal entity would provide for joint-venture management of the commercialisation of TERAX, the patented and trademarked technology developed by Scion for transforming waste biosolids from the city's wastewater treatment plant into usable products.
Rotorua District Council Infrastructure Services Committee chair Glenys Searancke said the council preferred the Limited Partnership option for managing the commercial licensing of TERAX to third parties.
This option offers the best structure, given our need to limit liability, provide flexibility and optimise tax efficiency, while protecting our 50 per cent ownership of the intellectual property.
TERAX technology is an innovative world-first process for managing organic waste. It cooks biosolids and breaks the material down into useful industrial chemicals, energy or fertiliser products.
The council and Scion have built a large-scale pilot plant to trial the new technology and this is now operating successfully at the council's wastewater treatment plant.
A copy of the TERAX proposal is available from the council's Customer Centre or can be downloaded online from the council website www.rdc.govt.nz.
Submitters will be given the opportunity to speak to the mayor and councillors in support of their TERAX proposal submissions at a public hearing on 10 December.
Submissions close with the council on Tuesday 4 December.