US-based PHG Energy has acquired several intellectual property assets and a gasification facility in the bankruptcy of MaxWest Environmental Systems, a Florida-based company.

The financial details of the deal have not been disclosed.

The MaxWest company, which began operations in 2008, stopped operation of its Sanford, Florida installation in May 2013. This installation served three cities in the region.

PHGE president Tom Stanzione said the acquisition will enhance the company’s ability to diversify its offerings in the waste-to-energy marketplace.

"We see significant value in what they had accomplished both in technology as well as furthering the recognition of gasification as a key element in waste-to-energy solutions.

"We determined that adding this technology to our portfolio would allow us to both explore new markets and better serve our current and future customers."

Assets purchased in the bankruptcy auction included earlier issued patent work as well as in-progress intellectual works, the gasification plant, and other confidential technology, financial information and other important data.