NRW.BANK acquires stake in everwave GmbH - Aachen-based start-up fishes rubbish from rivers and lakes across the globe

In the context of a seed financing, NRW.BANK has invested in everwave GmbH from Aachen. At the same time, the NRW-owned promotional bank has converted the convertible loan granted to the start-up into equity investments. everwave uses proprietary clean-up technologies to collect plastics and other waste from rivers and lakes – and gives enterprises the opportunity to participate.

“Sustainability is a central guiding principle and a key criterion for NRW.BANK’s decisions on business policy. everwave is a start-up which shows that good business ideas can be profitable and sustainable at the same time,” says Torsten Klink, Head of NRW.BANK’s Venture Center and Seed Financing Team.

Compensating waste as a company

On behalf of other companies, everwave collects plastic and other waste from rivers and lakes before it reaches the open sea. For this purpose, the start-up uses KI-based waste collection boats and floating platforms Against payment of one euro, everwave fishes one kilogram of waste out of the water – and in return awards a “plastic credit” to the commissioning company, which, inspired by the concept of climate/carbon neutrality, can thus compensate or neutralise its own waste footprint. Depending on the mission and infrastructure, everwave then returns the collected waste to the cycle as locally as possible.

International growth

everwave will use the investment to finance its international growth and global operations. “We want our work to help make a noticeable and sustainable change and to make us one of the world’s largest plastic credit providers. We are very happy to have NRW.BANK as another strong partner as at our side,” says Clemens Feigl, CEO of everwave.

Investment through NRW.SeedCap

NRW.BANK made its investment in everwave through the NRW.SeedCap programme. Under this programme, the Bank generally provides equity capital in the form of an investment together with a business angel, in the same amount and at the same conditions (pari passu) as the latter. In addition, NRW.BANK converted convertible loans granted to everwave in equity investments. These were loans from the NRW.Start-up akut programme, which NRW.BANK uses to support businesses that have proven to be affected by the COVID-19 crisis.

For more information, visit www.www.nrwbank.de/en/founder/

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About NRW.BANK

NRW.BANK is the promotional bank of North Rhine-Westphalia (NRW). Its mission is to support its owner – the state of North Rhine-Westphalia – in the completion of its structural and economic policy tasks. In its three promotional fields “Economy”, “Housing” and “Infrastructure/Municipalities”, NRW.BANK uses a wide range of promotion tools – from low-interest promotion loans to equity financing to advisory services. It cooperates with all banks and savings banks based in NRW on a competition-neutral basis. NRW.BANK takes into account the existing offers by the Federal Government, the North Rhine-Westphalian government and the European Union in the arrangement of its promotion.

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ContactCaroline Gesatzki
Press Officer
Tel.: + 49 211 91741-1847
Mobile: + 49 151 15179261
caroline.gesatzki@nrwbank.de