Ichthion secures £1 million to remove plastics from rivers and oceans
London, United Kingdom – Ichthion, a leading developer of disruptive technologies to remove plastics and synthetic waste from rivers and oceans, announces that it has secured £1 million in funding with the help of ClearlySo, Europe’s leading impact investment bank. Ichthion plans to use the new funding, a mixture of equity investment and grants, for hiring key staff, product optimisation and testing, and cashflow through to first commercial contract.
Plastics in oceans and water courses is increasingly a topic of public awareness. There is approximately 150 million tonnes of plastic in contaminated ecosystems with a further 12 million tonnes entering the marine environment annually. Approximately 90% of plastic pollution in the oceans is coming from 10 rivers and is forecast to triple by 2025 without significant interventions.
Ichthion has three systems to remove plastic from different bodies of water named Azure, Cobalt and Ultramarine. The model Azure was designed for deployment in rivers to prevent plastic waste from reaching marine environments, and it can collect up to 80 tonnes of plastic per day from any river. Current technologies can only manage up to 7 tonnes per day. Combined with the latest recycling technologies (as well as partnerships with a UK company developing cutting-edge technology for recycling) it is a real game-changer.
The models Cobalt and Ultramarine use static infrastructures and transport systems respectively to recover plastic particles and microplastics from critical locations across the coastline and the ocean whilst safeguarding marine life. These technologies can reduce the cost of plastic pollution removal, per kilogram, by up to 97.5% on conventional methodologies. Also, they can offer a factor of 14 reduction on the next best competitor; with minimal input required through its self-cleaning and self-driving format. The systems enable the easy collection of plastic material without the need for deploying expensive and dedicated solutions, and reduce the requirement for additional support networks.
Ichthion have signed a LOI with the Ecuadorian government to deploy Azure systems in two of the most polluted rivers of the country, which was officially announced recently by the minister of Environment during the IV UN assembly for the environment. The plastics that leave from the rivers towards the Ecuadorian coasts are directed by the oceanic currents towards the Galapagos Islands, and for this reason it is important to avoid the flow of plastics.
Inty Grønneberg, co-founder and chief executive of Ichthion, stated: “Closing the round is a solid step for our company in our goal to reduce by 70% in 10 years the total amount of plastics entering into the oceans. We are now looking manufacturing companies that share our vision and would like to partner with us to speed up the deployment process worldwide.”
Hayley Collen, investment director at ClearlySo, commented: “ClearlySo is proud to help innovative businesses like Ichthion raise capital to develop and scale game changing solutions that dramatically reduce the amount of plastic waste in rivers and oceans.”
Notes to the Editors
The global ecosystem is under immense pressure, facing myriad problems both complex in nature and interwoven with uncertainty.
By addressing all aspects of a problem and fusing science, engineering, and design, Ichthion delivers radical, multifaceted technology solutions to counter the threat.
At Ichthion’s core lies a vision of a sustainable future, one that can be achieved though innovative technology and the elegant application of knowledge.
Ichthion has developed award-winning technology that can remove greater volumes of plastic from the world’s rivers and oceans than all existing technologies.
ClearlySo is the Europe’s leading impact investment bank, working exclusively with enterprises and funds delivering positive social, ethical, and/or environmental impact as well as financial return.
Originally founded in 2008, ClearlySo has helped more than 130 clients raise more than £248 million in impact investment from its extensive network of high-net-worth individual and institutional investors.
ClearlySo is headquartered in London.
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