ICHTHION LIMITED ANNOUNCES ITS
SERIES-A INVESTMENT ROUND
Funded by multiple grants, equity share-based investment, and awarded contracts.
A total of £1, 6 Million.
Technology Readiness Level 5 completed in October 2020 for our Azure systems. Patent application Number: (PCT/GB2019/051937).
The creation of sustainable shareholder value by commercializing our award-winning technologies and solutions worldwide.
Plastic pollution is now a Universal problem. Traces are found all over the world from the deepest depths of the ocean to the ﬁsh that we consume every day. Around 8.3 billion tons of plastics have been produced to date, 150 million tons of which are already in the oceans, either degrading into micro-plastics or congregating on the surface as ﬂoating islands of debris. Even more concerning, another 12.1 million tons are estimated to enter the oceans this year, causing a dramatic decline in marine life, and placing stress on one of the most sustainable and important sources of protein.
A powerful example of the destructive eﬀects of plastic pollution is what is happening in iconic marine reserves, such as the Galapagos Islands. Its unique wildlife and once-thriving marine currents of the region drag sediments and residues from the coastal Ecuadorian region towards the islands, making continental Ecuador one of the main contributors to the Galapagos plastic pollution problem.
Ichthion, a multi-award winning company born out of the laboratories of Imperial College London, seeks to overcome the limitations of existing technologies by delivering the ﬁrst truly scalable solutions to reduce the ﬂow of plastics into the world’s oceans, proposing energy-generative systems that uniquely can installed in rivers, coastal areas and the oceans to remove plastic waste and generate data.
Ichthion´s business model is based on core stable revenue streams derived from contracts, such as municipalities, to provide cleaning services for the plastic pollution waste in rivers. Further ﬁnancial revenues, economic and social beneﬁts are derived from the associated Circular Economy enterprise and the valuable data collected regarding all aspects of plastic waste in rivers.
We operate our technologies under the Tech-as-a-Service (TaaS) scheme, which is a comprehensive, ﬂexible, and scalable alternative to provide solutions for our wide range of customers: municipalities, governments, large businesses and international NGOs.
The new capital is required to build and operate our River Units “Azure”, of 11 units in Ecuador and 300 worldwide. Key areas for the commercialisation of our technologies are the Andean opportunities in the recycling sector, as well as future commercialisation of two other technologies that are under development.
Since April 2019, Ichthion has been working developing its technology from its headquarters in London, and also working in the LATAM market, establishing its commercial oﬃces in Ecuador, where we are negotiating with several Municipalities. It has also received expressions of interest and support from potential clients and partners from across the globe.
The company is one of the winners of the global competition “Cutting River Plastic Waste” organised by the Benioff Ocean Initiative and the Coca Cola Foundation. As a result, the company has signed a contract for $1 million with the University of Santa Bárbara for the deployment of its Azure technology and operation in Ecuador. Also, it has joined the Clean Currents Coalition, a global network of nine teams combating plastic waste in river systems around the world.
Ichthion is also one of the winners of the competition of Innovate UK called “Towards Zero Waste” from which we obtained a grant of $600,000 for the development of our technologies, and also completed successfully its Seed round in 2019. Several UK investors, such as ClearlySo, Venrex, Addidi and the Norwegian firm Katapult Ocean, were part of the round.
Seed Investment Round, opened in November 2020: $ 2.4 million USD
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