KARACHI, MAR 2 – National Bank of Pakistan and EveryWater a Pakistani innovative start up signed an agreement; where NBP will extend financing to enable this Pakistani Startup formed by young chemical engineers go to market with its innovative water purification solution.
EveryWater (EW) was founded by, Shayan Sohail, Usama Tanweer and Arslan Ahmed, bright young graduates of University of Engineering & Technology Lahore. At EveryWater, they invented a unique polymer technology, that they named “Esoterik Resistive Membrane”, also known as intrinsically biofilm resistant membrane. EW has patent coverage across 82 geographies around the world for its ERM.
EW has designed and tested sustainable and affordable water purification solutions suited for individual, household, community, agriculture and industrial use. EW products enable off-grid water purification for years without the need to replace devices or membranes. EW has succeeded in bringing down the cost of clean sweet raw water for domestic users to Rs. 20/100 liters, and cleaning brackish water to Rs.40/100 liters
The awareness and recognition of ERM technology and its impact on societies is growing. This growing recognition is evident from the many international awards that the founders have received. Most recently the team at EW have been listed by Forbes on its, Forbes 30 under 30 Asia, list; they have also won the Common Wealth Youth Award, the coveted YGS Belgium award, and the “Take of Istanbul Award” for their innovative and impactful work.
National Bank following its thematic push towards impactful investment has entered into equity partnership with EW. This groundbreaking and inclusive investment in a startup not only enables EW to go to market but also sends a strong signal to other startups that National Bank of Pakistan is open to innovative and viable overcome hurdles in going to market or scaling up challenges.
Mr. Javed explained the journey of Everywater and how his interest in water led him to Shayan Sohail and his team who were working on revolutionary water filtration technology. He went on to thank Hashoo group and NBP for their investment in this venture.
Mr. Murtaza Hashwani thanked Mr Arif Usmani, president NBP, for their investment in Everywater. He went on to explain the global water problem and how Everywater will be able to solve these problems by using their innovative products. He mentioned how the end goal of Everywater is affordable desalinated seawater which will provide access to clean drinking water for all.
Mr. Zohair Ashir gave a brief introduction of Hisaar Foundation. He mentioned how he met Mr. Javed and how they shared a passion for solving the water crisis. He explained the importance of water financing and thanked NBP for doing so.
Mr. Arif Usmani explained how he believes the investment is not all about the returns and how he wants to make a difference and not follow in the footsteps of other commercial banks. His vision is to invest in ventures that can make a positive impact in Pakistan.