This startup turning human waste into fertilizer just raised $7.5 million. Here's the 17-slide pitch deck Wasted used to raise the fresh funds.
Vermont-headquartered Wasted has developed a porta-potty that separates waste into solids and liquids, which is then collected and taken to a decentralized processing plant. Wasted is currently focused on nutrients in urine and relies on partners with existing"bio-solid" programs for poop. Eventually, Wasted wants to be able to process both.
Nitrogen, phosphorous, and potassium are common fertilizers found in human waste but are typically extracted from the earth for use. There is a long history of some countries using untreated or partially-treated human waste as fertilizer.
The funding announcement comes with the company's public launch. Some 200 toilets are being deployed in Burlington, Vermont, as the company kicks off with customers in construction and municipalities. Its porta-potties are rented and managed on a monthly billing cycle and the creation of fertilizer adds a second revenue stream..
The treatment process also results in clean water, which Wasted is currently using for its own operations but could be an additional value proposition in other markets. California, for example,The cash injection is made up of a $5.7 million seed round and a previously unannounced pre-seed. Day One Ventures, Third Sphere, Pure Ventures, Riverstyx Foundation, Gratitude Railroad, and Susquehanna Foundation also participated.
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