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Company profile: WASE Ltd. (verified draft, last updated 24 Oct 2026)
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Lane: Challenge 3 > Recovery & conversion (biogas). Status key: Verified = confirmed by 2+ sources or one primary record; Partly verified = one source or part of the claim confirmed; Unverified = not confirmed, do not cite as fact; Blank = left empty on purpose until the eligibility and relevance step. Open each link yourself before you sign off.
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FieldYour entrySource 1Source 2Source 3Source 4Source 5Source 6Source 7StatusYour check (Y/N + date)
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Company nameWASE Limited (UK company number 10616124). Active private limited company, incorporated 13 Feb 2017.https://find-and-update.company-information.service.gov.uk/company/10616124https://www.wase.co.ukVerifiedY, 24 Oct 2026
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Websitehttps://www.wase.co.ukhttps://www.wase.co.ukVerifiedY, 24 Oct 2026
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HQ / geographyUnit 1, City Business Park, Easton Road, Bristol, BS5 0SP, UK (registered office matches company site).https://find-and-update.company-information.service.gov.uk/company/10616124https://wase.co.uk/get-in-touch/VerifiedY, 24 Oct 2026
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One-line descriptionBuilds modular electro-methanogenic systems that turn wastewater and organic residues into biogas, treated water, and fertiliser.https://www.wase.co.ukhttps://www.foodanddrinktechnology.com/news/62581/hepworth-brewery-installs-uk-first-circular-wastewater-to-energy-system/VerifiedY, 24 Oct 2026
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What it does (verified + source)Modular electro-methanogenic reactors (EMR) that treat wastewater and organic residues on site and raise the methane output of biogas; WASE holds patent GB2608056 (disclosed in the peer-reviewed paper below). Supporting evidence: a peer-reviewed paper (MDPI Energies 2025, co-authored by WASE staff with the University of Westminster and Imperial College London) reports a 4,000 L pilot at Hepworth's Brewery with 65% and 88% COD removal across the first two vessels, an average of 70.3% methane in the biogas, and a 15% increase in methane concentration relative to the lab (BMP) value. Company and investor claims go further and vary: 30% more biomethane (Engie, TechCrunch, AD & Bioresources), 50% (Tech Funding News), up to 10x faster, and 'up to 80%' methane (WASE site). Those claims are attributed to the company, not independently verified; the paper I read does not show a 30% gain.https://www.wase.co.ukhttps://www.mdpi.com/1996-1073/18/11/2939https://innovation.engie.com/en/news/news/research-and-innovation/engie-new-ventures-invests-in-wase/29391https://techcrunch.com/2024/03/27/wase-seed-fundraisehttps://awards.adbioresources.org/wase/VerifiedY, 24 Oct 2026
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Product stage (deployed / pre-product + source)Pilot-scale deployment at a customer (Hepworth Brewery) is documented in a peer-reviewed paper and trade press. A full-scale unit was reported as being commissioned as of Apr 2026; whether it is running is not confirmed. Capacity figures (17 m3/day, 362 MWh/yr) are expected output, not measured results.https://www.mdpi.com/1996-1073/18/11/2939https://www.foodanddrinktechnology.com/news/62581/hepworth-brewery-installs-uk-first-circular-wastewater-to-energy-system/https://www.newfoodmagazine.com/news/258132/uk-brewery-advances-circular-brewing-with-beers-powered-by-wastewater-to-energy-system/https://ca.news.yahoo.com/brewery-powering-itself-own-waste-114500748.htmlVerifiedY, 24 Oct 2026
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Traction (named customers + source)Named customer: Hepworth Brewery (West Sussex), with a GBP 500k industriWASE 40 contract reported in trade press. WASE's case-studies page also lists COOK (miniWASE pilot) and Llefrith Henfaes Dairy Farm; these are self-reported. No utility or municipal customer is publicly identified. Other customers: not publicly disclosed.https://www.wase.co.uk/case-studies/https://www.bioenergy-news.com/news/wase-secures-over-e1m-in-wastewater-to-biomethane-brewery-contracts/https://beertoday.co.uk/2023/05/31/brewery-wastewater-0523/https://www.newfoodmagazine.com/news/258132/uk-brewery-advances-circular-brewing-with-beers-powered-by-wastewater-to-energy-system/https://www.mdpi.com/1996-1073/18/11/2939VerifiedY, 24 Oct 2026
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Funding (amount, round + source)Round of over GBP 8.5M (about US$10.7M), announced 27 Mar 2024, led by Extantia Capital, including GBP 2.4M non-dilutive (press). Round type: press and databases conflict (seed, Series A, follow-on); WASE's accounts to 31 Mar 2026 list only Ordinary, Ordinary A and 'Series seed' share classes. Earlier: GBP 700K from Elbow Beach Capital (Mar 2022). The accounts show share premium of GBP 7.50M, GBP 1.7M of convertible loan notes (held as equity) and an Innovate UK loan facility of up to GBP 1.35M. Total raised is not publicly stated; databases range from about US$12.9M to US$22.9M. Companies House filings from Oct 2026 show a further share allotment; no amount or announcement is public.https://thebusinessmagazine.co.uk/corporate-finance/bristol-tech-secures-more-than-8-5m-to-scale-waste-to-energy-technology/https://techfundingnews.com/wase-gets-700k-backing-to-convert-industrial-water-and-food-waste-into-energy/https://techcrunch.com/2024/03/27/wase-seed-fundraisehttps://find-and-update.company-information.service.gov.uk/company/10616124/filing-historyhttps://pitchbook.com/profiles/company/434022-04https://www.caplight.com/company/waseVerifiedY, 24 Oct 2026
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InvestorsNamed in the March 2024 announcements: Extantia Capital (lead), Hitachi Ventures, WEPA Ventures, Engie New Ventures, Elbow Beach Capital, Empirical Ventures. Engie's own site confirms its investment but gives no stake size or minority/majority wording. Databases add (not in the announcements I read): Caygan Capital (Caplight, Premier Alts), Climate-KIC / EIT Climate-KIC (Caplight, Dealroom, Premier Alts), Innovate UK and Energy Catalyst (grants), Creative Destruction Lab and Brunel University Endowment (Premier Alts), plus Republic Europe, Science Angel Syndicate and UKRI (Dealroom). Premier Alts says it tracks 18 investors but shows 10.https://www.esgtoday.com/clean-fuel-startup-wase-raises-over-10-million-to-scale-waste-to-energy-solution/https://thebusinessmagazine.co.uk/corporate-finance/bristol-tech-secures-more-than-8-5m-to-scale-waste-to-energy-technology/https://innovation.engie.com/en/news/news/research-and-innovation/engie-new-ventures-invests-in-wase/29391https://siliconcanals.com/wase-raises-9-9m/https://www.caplight.com/company/wasehttps://www.premieralts.com/companies/wasehttps://dealroom.co/companies/wase/VerifiedY, 24 Oct 2026
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Ownership (public/private, subsidiary? + how checked)Private, independent. Checked: (1) UK Companies House: private limited company, active; persons-with-significant-control register shows no active person or entity with significant control. A PSC statement and the cessation of founder Thomas Philip Fudge (25-50% shareholding) as a PSC are both effective 1 Oct 2026 and were filed on 8 Oct 2026. (2) The same filing batch shows one director resigned and three were appointed effective 1 Oct 2026, new articles, and an allotment of shares, which reads like a financing or restructuring (inference; no reason is stated). (3) Site footer: no 'a [Parent] company' tag. (4) Funding coverage names Extantia as lead and the others as participating investors; Engie New Ventures' stake size is not disclosed, and the register lists no investor as a controlling person. (5) PitchBook lists the company as 'Privately Held (backing)' and 'Venture Capital-Backed.' (6) SEC EDGAR full-text search on 24 Oct 2026: no hits for 'WASE Ltd' (10-K filings) or 'WASE Limited' (all forms); the EDGAR company-name search was blocked to me, and a UK company may not file with the SEC at all. Dylan's own EDGAR company search, 24 Oct 2026: WASE does not appear (no filings). (7) Accounts to 31 Mar 2026: WASE Limited holds 100% of Wase USA, inc. (Delaware), so it is a parent of that company, not a subsidiary.https://find-and-update.company-information.service.gov.uk/company/10616124https://find-and-update.company-information.service.gov.uk/company/10616124/persons-with-significant-controlhttps://find-and-update.company-information.service.gov.uk/company/10616124/filing-historyhttps://www.wase.co.ukhttps://pitchbook.com/profiles/company/434022-04https://innovation.engie.com/en/news/news/research-and-innovation/engie-new-ventures-invests-in-wase/29391VerifiedY, 24 Oct 2026 (EDGAR checked)
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Tier-1 contact (page + general email + HQ)Page: https://wase.co.uk/get-in-touch/ | Email: info@wase.co.uk | Phone: +44 (0) 7354 265 277 | HQ: Bristol, UKhttps://wase.co.uk/get-in-touch/VerifiedY, 24 Oct 2026
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Preferred-signal flagsHeadquartered in Bristol, UK (Companies House; company site); not a US-domestic company. US presence: WASE Limited owns 100% of Wase USA, inc., a Delaware company whose purpose is to deliver projects in the US (accounts to 31 Mar 2026; it was not held a year earlier). No other US preferred signal found. M/WBE status: not publicly disclosed. Later screens (US data storage, NYS business registration) are PFNYC's.https://find-and-update.company-information.service.gov.uk/company/10616124https://wase.co.uk/get-in-touch/https://find-and-update.company-information.service.gov.uk/company/10616124/filing-historyVerifiedY, 24 Oct 2026
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Headcount signalAverage number of persons employed (including directors) was 33 for the year ended 31 Mar 2026, up from 21 the year before (Note 4 of the audited accounts filed with Companies House on 28 Aug 2026). That is an average over the past year, so current headcount may be higher. Other counts are undated database figures: PitchBook 50, Premier Alts 41, Caplight 29, Endole 21 (matches the 2025 accounts figure), corpsignals 13. A LinkedIn count was not used: it could not be verified and may be out of date.https://find-and-update.company-information.service.gov.uk/company/10616124/filing-historyhttps://pitchbook.com/profiles/company/434022-04https://www.premieralts.com/companies/wasehttps://www.caplight.com/company/wasehttps://open.endole.co.uk/insight/brand/196070-wasehttps://corpsignals.uk/companies/uk/wase-ltd-10616124.htmlVerifiedY, 24 Oct 2026
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Notes / uncertainty1) Ownership: private and independent; Companies House shows no controlling person or entity, no parent is named, and WASE Limited owns 100% of Wase USA, inc. Engie's stake size is undisclosed. The founder's PSC status ended 1 Oct 2026 alongside a share allotment, new articles, one director resignation and three appointments; no reason is stated and no 2026 round has been announced. 2) Stage: pilot-scale deployment at Hepworth Brewery is documented; the full-scale unit was being commissioned as of Apr 2026 and its running status is not confirmed. 17 m3/day and 362 MWh/yr are expected output, not measured results. Yield claims (30%, 50%, 10x faster, 95% COD removal) are company or investor claims with no stated baseline. 3) Customers: Hepworth is the only customer with independent corroboration; COOK and Llefrith Henfaes Dairy Farm are on WASE's own case-studies page; no utility or municipal customer is public. St. Peter's Brewery is a mention in funding coverage only. DEP relevance depends on mapping to a listed use case. 4) Funding: round type conflicts across sources (the accounts list a 'Series seed' share class); total raised is not publicly stated and databases disagree (about US$12.9M to US$22.9M). 5) Headcount: average 33 employees for the year to 31 Mar 2026 (accounts); may have grown since. A LinkedIn count was not used. 6) US presence: UK headquarters, with a US subsidiary (Wase USA, inc., Delaware). Later screens (US data storage, NYS business registration) are PFNYC's. M/WBE: not publicly disclosed. 7) Exclusion check: WASE does not appear in the public ETL cohort lists (2023: 8, 2024: 6, Mar 2026: 10) or on envirotechlab.nyc, whose alumni page shows 24 unique cards matching those 24 companies (my inference). The program's internal roster was not provided, so this is a partial check. 8) Accounts details (headcount, US subsidiary, share classes, convertible notes) were read from the PDF of the 31 Mar 2026 accounts that Dylan supplied; the filing is listed on the Companies House filing-history page. Sources I could not open (Forbes original, LinkedIn, one French article) are not cited. 9) Built with AI-assisted web research on 21-24 Oct 2026; see the Link Check tab.VerifiedY, 24 Oct 2026
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Passes eligibility gates?Blank
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Relevance rating + rationaleBlank
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