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Loowatt

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Delivering safe sanitation and generating energy from waste for sustainable business growth

162%
 - 
Funded 13 Nov 2020
£750,000 target
£1,216,180 from 817 investors
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Business overview

Location London, United Kingdom
Social media
Website Loowatt.com
Sectors Home & Personal Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 07082726
Incorporation date 20 Nov 2009
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Investment summary

Type Equity
Valuation (pre-money) £6.3M
Equity offered 16.16%
Tax relief

EIS

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Business highlights

  • Market ready solution to meet global need worth £50bn+
  • Key growth stage in 2020 with first hardware B2B sales shipped
  • Numerous granted patents and growing a valuable IP portfolio
  • “Great solution that fills an important need” - World Health Org
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.00 +
  • Pay by Bank payments not accepted
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 817
  • Discussion
  • Documents

Idea

Introduction

Did you know that two thirds of the population doesn't have access to a sewered toilet network, with poor sanitation contributing to an estimated 1.6 million deaths each year?

Poor sanitation reflects a widespread health crisis, but also has a severe socio-economic impact - more than £150 billion GDP is lost every year due to health care costs, decreased income and productivity.

Here at Loowatt, our patented toilet with its revolutionary waterless flush seals waste hygienically away and is the starting point for Loowatt's unique closed-loop processing system. Working closely with local utility partners, waste is safely collected and treated, and is then transformed into biogas to generate electricity and heat while capturing nutrients for organic fertiliser.

Our toilets and energy from waste processing can be used for both domestic and commercial off-grid applications, without chemicals and without water – protecting both people and planet with every flush.

Substantial accomplishments to date

Proven Competitive Advantage

· Outperfomed one of the world’s largest toilet manufacturers in rigorous pilot of non-sewered toilets led by a major utility in the Philippines, Laguna Water, in 2018.

· An InnovateUK-funded collaborative study with Thames Water revealed that Loowatt waste can be worth as much as £5.70/tonne in UK utility-run anaerobic digestion systems, whereas conventional sewage has close to zero net value.

Domestic Sector

· Pioneered toilet servicing company, Loowatt SARL, Madagascar, which services household toilets for a monthly fee. Waste turned into energy and organic fertiliser, working in partnership with waste utility, SAMVA.

· Serving 1,800 people in Madagascar, a number increasing every week.

· >1000 units ordered in 2020 for toilets to international markets, including first order of 400 toilets to The Philippines arriving in October.

Portable Sector

· Served >250,000 people with luxury off-grid toilets at UK events, generating >£680,000* revenue through a customer-pay model.

· Pro Pod installed at Wates construction site, which reduced employee downtime, reduced CO2 emissions and improved health & safety.

*based on unaudited management accounts

Successful Grant Funding

· Awarded >£1M in grants from the Bill & Melinda Gates Foundation urban sanitation markets and transformative technology programmes.

Monetisation strategy

Hardware sales in the last 12 months: toilets, waste processing machines, refills and servicing software to two key customer groups: Urban Sanitation Service Providers and Portable Toilet Service Providers.

Our international customers are municipal service providers seeking to roll out non-sewered sanitation in widespread, unserved urban areas. In 2020 we completed first major sales to the City of Manila, in a major multi-stakeholder project funded by the country’s federal Department for Environment seeking to reach 10,000 homes in the next few years. We are rolling out a similar strategy in The Philippines and have trials in progress in South Africa.

In the portable sanitation sector, Loowatt has proven demand in the UK. Sales focus is on construction sites and to support COVID resilience.

There is a recurring revenue stream through sales of refills and software that supports services. Additional revenues from implementation and aftersales support.

Use of proceeds

Investments into this round will enable us to scale-up production, create an efficient manufacturing operation, and facilitate continued investment in R&D for future innovations, as follows:

· Scale-up manufacturing and improve gross margins on core products

· Optimise hardware distribution strategies

· Prove scalable licensing models for system consumables

· Develop Aftersales monetization strategy for large international contracts, starting with the City of Manila

· Complete development of Loowatt Pro data transmission system and kickstart sales in UK portable market

· Aid delivery on first major commercial contracts in the UK whilst we lay the groundwork for scalability

· Build patent portfolio across end-to-end system solution

· Continued R&D to build value in core innovation areas including hygienic waterless toilets and waste-to-value processing solutions

Please note, this campaign is part of a larger round, and a further £95,000 was raised on the same terms in March 2020. This investment has been included in the pre-money valuation for this campaign.

Key Information

Outstanding debt

1. A loan of £380,702 from Innovate UK with the option to draw down a total of £458,301.00. This loan incurs an interest rate of 3.7% per annum. Repayment to start in October 2022 through quarterly installments.

2. A hire purchase loan of £48,258.68 including interest, repaid in monthly installments.

3. Two director loans of £50,000 each, with an 8% interest rate. It is expected that these loans will be repaid out of revenues in Q1 of 2021.

4. A loan of $20,000 from Vitol Foundation, with a 5% interest rate.

None of the funds raised will be used to repay these loans.

Reflected investment

Please note, the investments that have been reflected in the campaign have been received over the course of the last 6 months. All investments are on the same terms.

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If you successfully purchase a share lot of this business, you will be granted access.

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Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited ("Seedrs"), which is authorised and regulated by the Financial Conduct Authority. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Seedrs platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Seedrs platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Seedrs does not make investment recommendations to you. No communications from Seedrs, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Seedrs does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Seedrs, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £6,305,240

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

There are 5 types of investment pitch available on Seedrs.

  • Equity
  • Convertible
  • Fund
  • Cohort
  • Secondary

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Seedrs nominee

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Seedrs nominee.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Seedrs Nominee). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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