Inaugural ALL_SUMMIT Investor Day series builds on momentum of US$50 million in capital attracted to investment-ready solutions
Singapore, October 28, 2021 - The Alliance to End Plastic Waste (Alliance) launched its inaugural ALL_SUMMIT Investor Day series today. The platform aims to drive technological breakthroughs in plastic waste management by linking scalable solutions with sustainable finance. It is the next step in ongoing efforts by the Alliance to establish a pipeline of investment-ready innovations that can be scaled up to help end plastic waste.
Today’s investment summit builds on the Alliance’s End Plastic Waste Innovation Platform, which is a collaboration with California-based technology accelerator, Plug and Play. About 100 start-ups have been accelerated through the programme and gone on to attract over US$50 million¹ in capital investment. Funding comprised a majority mix of private equity and government grants.
Nine programme alumni from Asia Pacific pitched their solutions at the ALL_SUMMIT, with the aim of connecting with fresh capital. They made their pitches to about 120 guests attending in-person at the Suntec Singapore Convention & Exhibition Centre, and virtually. The audience consisted of a cross-section from the private sector, financial institutions, venture capitalists, and family offices, representing multi-billion-dollar investment portfolios. The projects included Singapore-based reusable container operator Muuse, plastic waste recycler Rebricks, from Jakarta, Indonesia, and returnable packaging solutions provider Ecovia, from Gujarat, India.
The startups began their journeys last year when over 3,000 companies from more than 80 countries were screened and reviewed from innovation hubs in Silicon Valley, Paris, Shanghai, Sao Paulo, Johannesburg, and Singapore. Following a rigorous selection process, over 100 businesses advanced through a 90-day accelerator programme. These in turn generated some 100 commercial pilots, testing solutions ranging from data analytics to technologies that improve waste collection and processing.
“It’s been a great privilege to be part of the End Plastic Waste Innovation Platform accelerator programme by the Alliance,” said Jonathan Tostevin, Chief Executive Officer of Muuse. “Now, having the opportunity to pitch our solution to investors and partners specifically interested in ending plastic waste, we believe this is helping to change the way the investment community thinks about materials and building out the circular economy. We're really excited about the next steps!”
Said Jacob Duer, President and CEO of the Alliance: “Plastic waste is an increasingly important issue on the global sustainability agenda—which means countries, companies, and communities will need more innovations to help address plastic waste leakage.”
“The capital we have catalysed through the End Plastic Waste Innovation Platform is a strong indication of resources being available for investment in this topic, but far more is needed to tackle this complex challenge. The Alliance is at the centre in being able to engage the investor community through the ALL_SUMMIT series, to help place the plastic waste agenda on their radars as part of a holistic approach to green financing,” he added.
¹ As of Oct 1, 2021