Innovative water purification solution: EveryWater, NBP sign agreement

KARACHI: The National Bank of Pakistan (NBP) and EveryWater (EW), a Pakistani innovative startup, signed an agreement on Tuesday where the NBP will extend financing to enable this startup formed by some young chemical engineers go to market with its innovative water purification solution.

The event was held at a hotel. NBP president Arif Usmani while addressing the ceremony said how he believed the investment to be not all about the returns, and how he wanted to make a difference and not follow in the footsteps of other commercial banks.

"My vision is to invest in ventures that can make a positive impact in Pakistan," Usmani said.

Syed Javed, EveryWater CEO, said on this occasion that the EW was founded by Shayan Sohail, Usama Tanweer and Arslan Ahmed, young graduates of the University of Engineering and Technology, Lahore.

At EveryWater, they invented a unique polymer technology that they named "esoterik resistive membrane", also known as intrinsically biofilm resistant membrane.

The EW had patent coverage for its ERM across 82 geographies around the world. The EW has designed and tested sustainable and affordable water purification solutions suited for individual, household, community, agriculture and industrial use, he said.

The EW products will enable off-grid water purification for years without the need to replace devices or membranes. 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 the EW has been listed by Forbes on its Forbes 30 under 30 Asia list. They have also won the Commonwealth Youth Award, the coveted YGS Belgium award and the "Take of Istanbul Award" for their innovative and impactful work. The National Bank, following its thematic push towards impactful investment, has entered into equity partnership with the EW.

This groundbreaking and inclusive investment in a startup not only enables the EW to go to the market but also sends a strong signal to other startups that the National Bank of Pakistan is open to innovative and viable startups going to market or scaling up challenges.

Syed Javed explained the journey of EveryWater and how his interest in water led him to Shayan Sohail and his team who were working on the revolutionary water filtration technology. He went on to thank the Hashoo Group and the NBP for their investment in this venture.

Javed said the end goal of EveryWater was affordable desalinated seawater which would provide access to clean drinking water to all. Murtaza Hashwani, deputy chairman and CEO of the Hashoo Group, thanked Arif Usmani, NBP president, for the investment in EveryWater.

Zohair Ashir gave a brief introduction of his organization, the Hisaar Foundation. He told the audience how he met Javed who shared his passion for overcoming the water crisis.

Copyright Business Recorder, 2021