This company has provided the 'news release' below.  I have been in contact with them and the cost of the product is about $147.  There is a link to a video which gives a full demo.  jr
   
News Release

A new environmental product manufactured in Australia has the potential to enable a substantial reduction in Australia’s greenhouse gas emissions without any contribution from a carbon tax.
The WormFeast food scrap recycling system®, if adopted by every domestic dwelling with garden access, would result in a massive reduction in the quantity of food waste sent to landfill where anaerobic decomposition creates vast amounts of methane gas.  According to the Australian Government’s Intergovernmental Panel on Climate Change report, Climate change 2007 – the physical science basis, methane has a global warming potential (GWP)25 times greater than an equivalent mass of carbon dioxide (CO2) and nitrous oxide which is also a product of landfill has a GWP 298 times greater than an equivalent mass of CO2.

The WormFeast food scrap recycling system® employs earthworms which occur naturally in the soil to process household food scraps in an aerobic environment in domestic gardens, resulting in a much lower level of greenhouse gas emissions and the added environmental bonus of less rapidly expanding rubbish dumps.
The WormFeast system consists of several in-ground worm feeding stations with secure lids to keep flies and vermin out, together with a stainless steel bowl with glass lid for collection of food scraps in home kitchens. The scraps are emptied into the ground stations and the free-range earthworms that occur naturally in soils in most parts of the world arrive to feed on the scraps in an aerobic environment (ie. in the presence of oxygen).

Because temperature remains relatively constant below ground, the worms are not exposed to overheating as they can be in above ground devices. Instead, should temperatures become extreme, the earthworms just retreat deeper into the soil and return to the scraps when temperature normalises.

If every local council in Australia insisted that household food scraps be processed at home and supported their rate payers to do so, the benefits would be many:

a)      A reduction in Australia’s greenhouse gas emissions from land fill sites
b)      A reduction in fuel emissions with fewer rubbish truck kilometres being required to cart food waste to land fill
c)       Smaller, less smelly rubbish tips
d)      Cost savings to councils in both waste collection and land fill
e)      Household food scraps becoming a valuable garden resource as fertiliser instead of a problem in land fill
f)       Increased earthworm numbers resulting in more fertile, moisture retentive soils in domestic gardens
g)      An educational opportunity for children – teaching future generations that it is the personal responsibility of every individual to care for the environment, that we can all actively  make a difference and that we must not just expect others to solve problems for us.   

For a comprehensive view of the function and benefits of the WormFeast food scrap recycling system® please visit our website at www.wormfeast.com.au

We welcome enquiries from anyone requiring further information, especially from local government, schools, garden clubs, gardening enterprises or other interest groups who support the concepts presented above and who may like to discuss potential collaboration.   
Contact details:    Email: info@wormfeast.com.au      
Phone: (08) 9495 2942     Mobile: 0408 121 666