Portfolio Impact

WAVE invests in essential industries—clean energy, food, water and waste recycling—that are critical for a healthy planet and harmonious society. Hence, the ESG impact is not an afterthought but a core value inherent to our private equity investments.

Our portfolio companies generate strong environmental, social and governance (ESG) impact at no cost to the customer. Their innovative solutions enhance industrial efficiency and resource productivity, which improve existing processes/products while saving money for their customers. Our investment practices adhere to the dictum:

That which is not profitable, is not sustainable.


WAVE’s investment activities promote financial responsibility as well as environmental, social and governance (ESG) impact. In fact, we believe that these goals are inherently linked and complementary. Our companies lift the value curve to higher plateaus and their impacts are long-lasting because their advanced technology platforms improve ESG performance by:

  • Conserving the use of energy, water and other natural resources

  • Creating high quality manufacturing jobs in rural communities with low to moderate incomes

  • Investing in employee and stakeholder development, training and education

  • Advocating opportunities for women and minorities

  • Promoting ESG dialog and ethics through community, school, industry and civic engagements

  • Reducing pollution and waste, and promoting close-loop recycling of natural resources, and

  • Incorporating responsible governance measures in the board and management practices

Examples of Portfolio’s Impact

Following are some examples of positive economic and ESG impacts of WAVE’s portfolio companies.

American Aerogel

Economic – reduces energy use by 70%, lowers customer packaging, logistics and transportation costs

ESG – saves food and medicine spoilage worth billions; creates manufacturing jobs in depressed areas

Green Conversion

Economic – generates renewable energy fuel and reduces cost of processing and landfilling trash

ESG – diverts 90% of post recycled waste; reduces CO2 emissions by 25% and other noxious gases by >50%


Economic – eliminates the cost of wastewater disposal; recycles polluted water at lower cost

ESG – conserves water – 25 facilities will produce 1 billion gallons of clean water annually; contains water pollution


Economic – reduces cost of industrial water heaters by 40%; reduces operating cost by 50%

ESG – lowers fossil fuel use by 40-60%, reduces water waste; first US manufactured industrial heaters


Economic – smarter and more durable domestic water heating equipment that cost 25% less

ESG – cuts 20% energy use, lasts 200% longer, reduces water waste; manufactured in the US


Economic – lowers the cost of Li-ion batteries and improves safety and performance by 50%

ESG – improves utility and cost of electric vehicles; makes storage for solar and wind energy affordable