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WASE

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We are unlocking the power of waste making it a sustainable source of water, energy and fertilisers.

100%
 - 
Funded 22 Dec 2021
£700,373 target
£764,739 from 130 investors
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Business overview

Location London, United Kingdom
Social media
Website wase.co.uk/
Sectors Energy Mixed Digital/Non-Digital B2B
Company number 10616124
Incorporation date 13 Feb 2017
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Investment summary

Type Equity
Valuation (pre-money) £4.2M
Equity offered 14.36%
Share price £239.28
Tax relief

EIS

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Business highlights

  • £700k potential revenue through 3 x commercial partnerships
  • >20% increase in energy recovery compared to anaerobic digestion
  • 2 patents pending for our unique Electro-Methanogenic process
  • Awarded 3 Innovate UK grants
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Key features

  • Secondary Market
  • Seedrs nominee min. £239.28 +
  • Pay by Bank payments not accepted
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 130
  • Discussion
  • Documents

Idea

Introduction

Globally, 80% of wastewater is discharged untreated into the environment polluting the planet every day. At the same time, we generate 1.6 billion tonnes of food waste per year.

Food and Drink Manufacturers (FDM) are significant producers of wastewater and organic waste and have high energy demands. 99.2% of EU food and drink producers are small-medium enterprises that need versatile waste management solutions that are easy to operate and have low capital outlay.

With the increasing legislative and consumer pressure for sustainable produce combined with rising waste treatment costs and energy price fluctuations, manufacturers seek new ways to recover value from their waste.

WASE allows drinks, meat, bakery and dairy producers to turn their waste into renewable energy they can use onsite. We are working with some of the highest waste-producing and energy-intensive industries to turn them circular by unlocking the power of waste.

Substantial Accomplishments to Date

Since founding in 2017, we have made significant progress in creating the future of waste to energy using our patent-pending Electro-Methanogenis Reactors (EMR).

We have installed pilots worldwide, including in the UK, Italy and Kenya. In partnership with SNV in Kenya, we upgraded an anaerobic digestion system with our patent-pending electro-methanogenic technology and increased the site's energy production by 49%. During one of our trials treating brewery wastewater, our system removed over 90% of organics, turning it into renewable energy.

We generated early revenue upgrading existing anaerobic digestion systems to increase energy recovery in 2020. Going forward, we have secured additional commercial agreements and heads of terms contracts to deploy commercial trials at Forest Road Brewery in January and Hepworth Brewery in April/May 2022.

Monetisation strategy

The UK market is our initial focus to validate our product-market fit. We are starting in the brewery sector, with growth in the craft market. Breweries generate high volumes of wastewater that can produce up to 10 pints of wastewater per pint of beer.

We will be exploring other food and drinks sectors, including meat, dairy and baking. All produce high volumes of waste that are difficult to treat with anaerobic digestion due to fats, low pH, and high concentrations of antibiotics. EMR opens new waste streams to treatment by increasing stability, efficiency and energy recovery compared to traditional anaerobic digestion.

As we grow, we will expand into the EU, with over 290,000 SME food and drink manufacturers. We will also explore other international markets such as South East Asia through licensing agreements or distribution partnerships.

We have different pricing models to suit our customer's needs. They can buy and own units to get a return on investment in 3-5 years. Our customers can pay for a monthly monitoring & maintenance subscription to provide ongoing support. The software we are developing will provide continuous remote monitoring and system optimisation using our biosensing capabilities to maximise energy recovery and treatment efficiency. Additionally, customers can lease to get a system with no capital outlay and instant savings.

Use of proceeds

The proceeds will be to achieve 3 key goals:

1. Install commercial industriWASE Biocentre system with Hepworth Brewery

2. Progress sales pipeline (£1 million) to have £500k of confirmed sales/orders by July 2022

3. Finalise £2-4 million debt financing partnership to offer lease payment options to customers

4. Optimise our electro-methanogenic technology and integrate AI remote operation and biosensing capabilities (Grant Funded – under financial review)

We will be bringing on some new key staff members to increase our commercial and research activities. Vikki Bolam is joining as Commercial Director and has over 30 years of experience in international business.

We will hire a CFO (Part-time) to support future debt and equity investments financing strategies.

Additionally, a Head of Engineering with a background in bioprocesses and chemical engineering will lead the design and manufacture of our unique electro-methanogenesis process.

A Head of Research is coming to optimise our technology (Grant Funded – under financial review).

Key Information

Investment Round

The lead investor in this round is Elbow Beach, who has participated for a total of £400,000. This investment is on the same terms to the other investors in the round.

Elbow Beach and other investors have agreed on terms with the company to invest two further tranches of £153,750 each n April 2022 and July 2022, post-close of the Seedrs campaign. The further tranches bring the total round to £1,007,608.08 and total equity offered of 19.44%. The further investment will be on the same terms, and investors in this round will not be offered pre-emption on this.

Debt

The company has the following outstanding loans:

£25,000 bounceback at an interest rate of 2.5% per annum. The loan is to be repaid in monthly instalments of £416.67 commencing April 2022. The funds raised from the EIS investment of this round will not be used to repay the Government Bounce Back loan.

The company is indebted to Thomas Fudge in the sum of £13,717 at a 1% interest. The loan is to be paid back once WASE generates over £100,000 annual revenue and has a minimum of a 6-month runway. The loan is not to be paid back from the investment of this round.

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

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

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

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 £4,176,632

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.

Learn more about pitch type on Seedrs

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.

Learn more about Custodian here

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 shareholding type is available and the minimum investment required to select it.

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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.