In this article, we discuss the 12 largest ocean cleaning companies and startups. To see more such companies, click 5 Biggest Ocean Cleanup Companies and Startups.
The blue economy
As governments, institutions and investors around the world begin to understand the severity of the climate change problem, they also begin to see the opportunities in the ESG industry. Take oceans for example. They cover 70% of the surface of our planet. There is an entire economic ecosystem around the oceans, known as the “blue economy” in investment circles. The market, which thrives on tourism, water sports, seafood and other related activities, is expected to reach $3 trillion by 2030. Data shows that about 8 million tons of plastic are dumped into oceans every year.
However, over the past decade, millions of dollars have been poured into ocean cleanup initiatives. Many companies have been able to develop sustainable business models by coming up with innovative solutions to solve the ocean pollution problem. Many investment companies also invest in this domain. For example, last year the European Investment Bank (EIB) committed up to 20 million dollars to the Ocean Fund of Circulate Capital, a New York-headquartered, ESG-focused investment firm.
Photo by OCG Saving The Ocean on Unsplash
In this article, we will look at some of the biggest ocean cleaning companies and startups. Some of these companies are nonprofits, while others have been able to develop interesting business models around the ocean pollution problem. Some of these companies have also raised massive amounts of funding from investors.
Largest ocean cleaning companies and startups
Bracenet is a German company that uses abandoned or “ghost” fishing nets and turns them into beautiful bracelets, playing a key role in the ocean cleanup initiative. The company’s website says that a whopping 640,000 tons of fishing nets are lost or dumped at sea every year. So far, the company has collected 773 tons of ghost fishing nets.
11. Ocean sole
There’s a new culprit behind the ocean pollution problem you may not be aware of: flip flops. Millions of beachgoers leave their flip flops by the sea every year. These flip flops, which usually have synthetic rubber, do not degrade and are harmful to the environment. These flip flops end up in the oceans polluting already devastated marine environments. Ocean Sole is working to solve this problem. Its operating model is simple: it works with local communities to collect flip flops and turns them into beautiful objects and works of art. The company’s website features some interesting and aesthetically pleasing objects they have made using discarded flip flops.
Ocean Sole has offices in Kenya and the United States.
10. Fish filaments
Fishing nets are among the biggest causes of ocean pollution. Every year, hundreds of millions of marine animals are killed due to abandoned fishing nets in the oceans. These fishing nets are made of nylon, which is plastic and does not degrade. Fishy Filaments has come up with a unique business solution to solve this problem. The company collects fishing nets from the oceans and makes commercially viable products from them. The company mainly produces engineering grade nylon filaments for 3D printing from used fishing nets. Fishy Filaments says it has used the MasterSpool Refill concept to help reduce the amount of single-use plastic in circulation and reduce emissions related to shipping.
9. Serious Business
Searious Business is a Netherlands-based company founded in 2016 by Willemijn Peeters. The company’s goal is to prevent plastic pollution from entering the oceans. Therefore, it helps businesses in three ways. First, the company helps companies on sustainable packaging, because plastic packaging is one of the biggest causes of plastic pollution in the world. Second, the company works with furniture manufacturers to help them adapt to sustainable furniture making and move away from plastic waste. The company says it does this through modular design and recycled plastic furniture technologies. Third, Searious Business is working in the consumer electronics sector to develop a “closed loop” of plastic reuse, so that consumer electronics companies can use and reuse plastic in their products without producing waste.
The company’s website lists several projects it has completed with major brands in the industry.
8. Ocean bottle
Ocean Bottle is a for-profit company that plays a role in the ocean cleanup initiative in a unique way. The company sells what it calls “Ocean” bottles, which are made from stainless steel and ocean-bound recycled plastic. The company claims that for every Ocean bottle it sells, it funds the collection of around 11.4kg of plastic, which is equivalent to 1000 plastic bottles. The company claims it pays communities living around coastal areas to collect plastic. If not collected, this plastic is bound to end up in oceans. Ocean Bottle’s website says that so far the company has collected 8 million kilograms of ocean-bound plastic. The company makes environmentally friendly bottles, as it claims that a single Ocean Bottle product emits between 2.8 and 4.5 kg of CO2e from cradle to grave.
Ocean Bottle is based out of London. The company was launched in 2018 by former London Business School students Nick Doman and William Pearson. In just two years, the company was able to raise $150,000 in pre-seed funding.
7. 4 Ocean
4Ocean is a Florida-based ocean cleanup company founded by Alex Schulze and Andrew Cooper, who were inspired to take action when they visited Bali, Indonesia, and saw first hand the problem of plastic pollution. They talked to local fishermen and toyed with the idea of starting a business that would pay coastal communities to collect trash. But the co-founders had another key problem to solve: how would they pay the local communities? 4Ocean sells bracelets on its website and funds its operations from these sales. For example, a pearl bracelet on the company’s website shows a price of $20, and the description says that if you buy this bracelet, you will help remove a pound of trash from the world’s oceans, rivers and coastlines. The product description also states that the bracelet is handmade by local artisans on the island of Bali, Indonesia.
Last year, the company announced that it had collected 25 million pounds of trash from the world’s oceans, rivers and coastlines.
6. Plastic Odyssey
Plastic Odyssey is not a company or business per se. It is an organization or project that aims to spread awareness about plastic pollution and its effects on oceans. Plastic Odyssey is a travel research platform to collect, develop and disseminate solutions to fight against plastic pollution.
Plastic Odyssey set out from France last year on a three-year expedition to find ways to reduce marine pollution caused by plastic in the 30 countries most affected by this issue in Africa, Southeast Asia and South America. The expedition will have stops in places that are among the most affected by plastic pollution.
Plastic Odyssey has a goal of training 300 entrepreneurs on plastic recycling and using plastic to make useful objects such as paving stones and pipes or machines. Plastic Odyssey will stop at different countries and invite local entrepreneurs to present business ideas to solve the problem of plastic pollution. The project’s website shows various technologies it works on and teaches entrepreneurs to recycle plastic and other forms of materials that are harmful to the environment, especially the oceans.
Click to read on and see 5 Biggest Ocean Cleanup Companies and Startups.
Revelation. No one. 12 Biggest Ocean Cleanup Companies and Startups is originally published on Insider Monkey.