German startup everwave, which cleans waste from rivers around the world, has successfully completed growth financing. The company, which collaborates with local organizations under the philosophy “It’s not your waste, it’s our waste,” said the money will be used to continue to expand its international projects.
“This is an important signal to the market right now, as sustainability is at risk of falling out of focus in many places,” Clemens Feigl, CEO & Co-Founder of everwave. “There is a need for more impact companies that develop concrete solutions for global challenges. This funding will enable us to significantly expand our international activities.”
The company already has a pipeline of projects planned in new locations in South East Asia where the bulk of plastic waste winds up reaching the ocean. Most of it, however, did not originate in Southeast Asia, but was shipped there by wealthy countries, including the U.S., that had collected the waste promising to recycle it.
everwave develops technological solutions to remove plastic waste from rivers before it reaches the oceans. The company uses drones and AI to calculate the amount of waste in a particular area, then deploys waste collection boats, barriers and manual clean-ups to collect it. The company said that it has collected than two million kilograms of waste from rivers in Thailand, Cambodia and Albania since its founding in 2018.
The organization then sorts the waste. That which can be recycled is recycled. If it cannot be, it is put to other uses, such as for making lower-impact concrete.
At the heart of the business model is a certified plastic credit system: every euro finances the recovery of one kilogram of waste. This gives companies a transparent opportunity to take responsibility for their own plastic footprint.
Investors include Viessmann Generations Group, KSK-Wagniskapital GmbH, a regional venture capital company associated with Kreissparkasse Köln, and existing shareholders such as SistaAct GmbH. The European Social Innovation and Impact Fund also invested in the round.
“Our investment in everwave is another milestone in our efforts to promote pioneering solutions with real ecological added value,” says Max Viessmann, CEO and President of the Viessmann Generations Group. “Their practical and measurable approach to water purification not only reduces plastic waste, but also protects one of our most important resources: clean water. Together, we are transforming responsibility into concrete action and shaping living spaces for future generations.”
