OnSite Waste Technologies, a low-cost medical waste disposal service company and Cove tenant at UCI Applied Innovation, will move from the Cove to a 600-square-foot location in Newport Beach at the end of March. The startup company, which formed four years ago and took up residence at the Cove @ UCI in April 2018, plans to expand their team with a focus on selling their processing unit, the TE-5000 – a desktop-size unit that converts regulated medical waste into sterile garbage for small-scale medical waste processing – on a national scale.
“We’re now out of the incubation stage and we’ve got a real company with a real product that’s getting ready to ship with real employees,” said Brad Barnes, CEO of OnSite Waste Technologies. “At some point, you’ve got to stop incubating and you have to deliver a product that will service a customer.”
The medical waste disposal process is, according to Barnes, cost-intensive, which includes waste collection, disposal and transportation and has many regulatory factors. The company estimates it can save small-scale clinics and doctor’s offices 75 percent in annual costs as well as incorporate a more convenient and sanitary solution for medical waste disposal.
“The regulatory process is very challenging. We’ve had to work with every state to gain the regulatory approvals to run and operate our device in a facility that, once the waste is treated, results in sterile, bacteria-free waste that is ready to be disposed of in the regular trash,” said Barnes.
Throughout its incubation period at the Cove, the company has utilized the surrounding facility for not only the physical space, but also networking opportunities and has received funding from The Cove Fund. OnSite Waste Technologies is currently completing their seed round, which raised about $3.5 million.
“I’ve done seven different startups and they’re all very difficult,” said Barnes. “I think OnSite has a great opportunity to be a very big company because the industry is so massive and it’s ready for a lower cost solution.”
Find out more information about OnSite Waste Technologies.
*Photo courtesy of OnSite Waste Technologies. Pictured is the company’s TE-5000 unit that converts medical waste into sterile garbage.