Plastic Pollution Challenge
1. There is no economically viable method for collection of low-value plastic in rural and island locations
2. 500,000 people need to be connected to Solid Waste Management everyday until 2040 to close the collection gap. (PEW 2020)
Plastic Offsetting is the act of purchasing Plastic Credits to offset a necessary plastic footprint. A Plastic credit represents 1,000kg plastic recovered directly from or intercepted from the marine environment through a SCS project. Sale of Plastic Credits generates capital which can be invested in plastic leakage prevention and plastic recovery infrastructures.
2 billion people in the world are living without waste management collection services and unfortunately, many are in rural and/or island communities. As a result, these communities are areas of high plastic leakage. Traditional waste management economics often do not make financial sense in many of these regions due to the low material value / population density so funding innovation is needed to bridge the gap.
Plastic Offsetting mobilises corporate capital to achieve this. If a company has a plastic footprint, they can purchase plastic credits from Seven Clean Seas to offset their necessary plastic consumption. This financial innovation allows Seven Clean Seas to invest in on the ground solutions for collecting, recovering and segregating waste from areas of high leakage
1. Generate Funding
1.1.1 Recover plastic from the Marine Environment, certify activity and enter into Registry to enable sale of Plastic Credits. Started in 2018 and have now recovered over 95,000kg.
1.1.2 Directly market and sell Plastic Credits to companies with plastic footprints. First sale was Feb 2019 and now have many clients. Currently hiring a Head Of Partnerships in Singapore to significantly boost sales in 2021.
1.2 Generate funding through Grants.
(Microsoft, ECCA Family Foundation, Marina Bay Sands, Howden Group, Kauhne+Nagel, Dematic, Lush)
2. Invest in Projects
2.1 SCS currently operates an Ocean Plastic Recovery project in Bintan, Indonesia (inside a MPA). This project employs 22 people and will expand in 2021 to include community and industrial plastic interception.
*Currently raising grant funding for a material sorting facility.
**In talks with IndoCement for domestic CoProcessing solution
2.2 The most ambitious project is now funded and due to come online in 2021. A high volume (1.46kt pa) River Plastic Recovery technology in Vietnam.
Target market – FMCG’s, SME consumer goods companies, multinational corporations, companies looking for CSR partnerships.
Regulatory requirements such as EPR and social movements from ecologically minded customers are currently pushing companies towards our solution. Several large MNC’s already have Net-Zero plastic footprint targets.
Competitors – TonToTon, reSea, RePurpose, Plastic Credit Exchange, Plastic Collective.
Traction and Key Metrics
2018 (Q2) – Founded (All revenue from CSR)
2019 (Q2) – 1st Plastic Offsetting deal closed
2020 (Q1) – Awarded River Cleanup grant (Marina Bay Sands)
2020 (Q2) – Launched Cleanup Crew in Bintan, Indonesia
2020 (Q3) – Finalists forUNDP EPPIC incubator
2020 (Q4) – River Cleanup Pilot funder secured (Howden Group)
2020 (Q4) – BritCham Sustainability champion of the year
2020 (Q4) – Finalists for the UNWTO Sustainable Development Goals Global Startup Competition. (SDG14)
Sales / Grants (USD) -$120,000+ / $310,000 (100k pending)
Partners on-boarded -46 (Mixed)
Kilos recovered from the ocean ->95,000k
Plastic credits sold – 39.225
Gender equity in our teams – 35% Female and improving
Number of locations – Indo Active, Viet / Mal pending
To be a market leader in remote waste management solutions, ocean plastic recovery and Plastic Offsetting. Plastic Credit market to grow similar to that of carbon, generating billions for WM Investment. SCS to provide a turnkey solution from project owner/operator to credit seller (Premium Credits). As projects grow, SCS to become major supplier of physical Ocean Intercepted / Recovered plastics.
USD$1.5 million+ equity fund raising
• Scale team
• Scale projects
• Secure dominant Plastic Credit market segment.