June 2026
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Largest Waste & Environmental Services Public Companies
Benchmark revenue and EBITDA valuation multiples for public comps like
Waste Management, Republic Services, Waste Connections, Veolia and Veralto.
 | WM, previously known as Waste Management, ranks as the largest integrated provider of traditional solid waste services in the United States, operating 262 active landfill sites and about 339 transfer stations that help with transporting waste efficiently and economically. The company serves residential, commercial, industrial, and medical end markets for waste collection, transfer, and disposal. The company also has an energy business emanating from the beneficial use of landfill gas and is a leading recycler in North America. | $219 | -4% | $88B | $111B | 4.4x | 14.6x | ||
| Republic Services Group is the second-largest waste management company by revenue and provides integrated waste management services to residential, commercial, and industrial customers. With 208 active landfills, 248 transfer stations, and 75 recycling centers, Republic Services has reached $16 billion in annual revenue, focusing on recycling and environmental solutions. The company reports in three segments based on the Western United States (Group 1), Eastern United States (Group 2), and Environmental Solutions across North America (Group 3). Eighty-nine percent of total revenue comes from recycling and waste, with the remaining 11% from Environmental Solutions. | $208 | -16% | $64B | $78B | 4.7x | 14.7x | ||
 | Waste Connections is a North American waste management company focused on integrated waste collection services. The firm primarily focuses on residential, commercial, municipal, and industrial waste collection, with a secondary market focus on rural areas. With 113 landfills and 222 transfer stations as of 2024, it is the third-largest waste management company by revenue. Revenue is split among six operating segments: Western, Southern, Eastern, Central, Canada, and Midsouth. | $154 | -18% | $39B | $48B | 5.1x | 15.5x | ||
 | Veolia is the largest water company globally and a leading player in France. It is also involved in waste management with significant exposure to France, the United Kingdom, Germany, the United States, and Australia. The third pillar of the group is energy services, giving the group significant exposure to Central Europe. Veolia started to refocus its activities in 2011, leading to the exit of almost half of its countries and its transport activity The integration of most activities of Suez in 2022 drove an EBITDA increase of nearly 40%. | $41 | +17% | $30B | $42B | 0.8x | 5.1x | ||
| Veralto is a diversified industrial firm organized into two segments: water quality, product quality, and innovation. The water quality segment offers water analytics and water treatment solutions, while the product quality and innovation segment offers coding, packaging, and color solutions for consumer packaged goods and pharmaceuticals. Headquartered in Waltham, Massachusetts, the company has around 17,000 employees. Veralto generated approximately $5.5 billion in revenue in 2025. | $85 | -16% | $21B | $22B | 4.0x | 16.0x | ||
| Clean Harbors Inc is an environmental and industrial services provider that provides parts cleaning and related environmental services to commercial, industrial, and automotive customers. Its business segments are Environmental Services and Safety-Kleen Sustainability Solutions. Environmental Services includes waste collection, transportation, treatment, recycling, and disposal, along with industrial maintenance services. Safety-Kleen Sustainability Solutions provides used oil collection and manufactures base oil, vacuum gas oil, and lubricants. The company generates the majority of its revenues from the Environmental Services segment and operates in the United States, with maximum revenue, and Canada. | $287 | +24% | $15B | $18B | 2.9x | 15.0x | ||
| GFL Environmental Inc is an environmental services company. Its offerings include non-hazardous solid waste management, infrastructure, soil remediation, and liquid waste management services. Its solid waste management business line, which generates the majority of the revenue, consists of the collection, transportation, transfer, recycling, and disposal of non-hazardous solid waste. Its Environmental Services business line includes liquid waste and soil remediation. The company's geographical segments are Canada and the United States. The company derives the majority of its revenue from the United States. | $36 | -29% | $13B | $19B | 3.9x | 13.0x | ||
 | Canmax Technologies Co Ltd is engaged in Research and development, production and sales of new energy lithium battery materials products, anti-static ultra-clean technology products and medical equipment products. | $12 | +320% | $10B | $10B | 8.9x | 56.1x | ||
| Zurn Elkay Water Solutions Corp is a growth-oriented, pure-play water management business that designs, procures, manufactures, and markets the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. Its product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products, and filtered drinking water products for public and private spaces that deliver superior value to building owners, positively impact the environment and human hygiene and reduce product installation time. | $47 | +30% | $8B | $8B | 4.8x | 18.5x | ||
 | Umicore SA operates in the following business groups: Catalysis, Battery Materials, Specialty Materials, Recycling, and Corporate and Unallocated. Key revenue is derived from its Recycling segment, which treats complex waste streams containing precious and other specialty metals. The Battery Materials segment is engaged in developing, manufacturing, and marketing cathode materials (CAM) and its precursors (pCAM) for lithium-ion batteries. The Catalysis segment provides automotive catalysts for gasoline and diesel light and heavy-duty diesel applications, and the Specialty segment develops, manufactures, and distributes metal-based materials and chemicals for applications vital to everyday lives. Geographically, the group derives a majority of its revenue from Europe. | $29 | +105% | $7B | $9B | 0.4x | 6.3x | ||
 | Fomento de Construcciones y Contratas SA is in the business of environmental services, end to end water management, construction and cement. The company's activities include services related to urban water treatment, waste recovery, end to end water cycle and also infrastructure construction projects, building construction, manufacturing of cement and concrete and operation of quarries and mineral deposits. The firm derives majority of its revenues from environmental services segment. It carries out international operations in European, the US and Latin American markets. | $14 | -8% | $6B | $10B | 0.8x | 5.4x | ||
 | Kurita Water Industries Ltd. is a provider of water treatment solutions in Japan. It operates through two segments: the Electronic market and the General water treatment market. The company provides a wide range of water treatment chemicals, systems, and services, including wastewater and ultrapure water solutions, facility maintenance, and environmental remediation, serving both industrial and household needs. | $55 | +54% | $6B | $6B | 2.4x | 11.4x | ||
| GEM Co Ltd is engaged in Waste battery recycling and power battery material manufacturing business, cobalt, nickel, and tungsten recycling and cemented carbide manufacturing business, renewable resources business, and environmental management business. | $1 | +18% | $6B | $9B | 1.7x | 11.3x | ||
| Casella Waste Systems Inc is a solid waste removal company, providing resource management services to residential, commercial, municipal, and industrial customers. The company's reportable segments on Geographical basis include Eastern, Western and Mid-Atlantic regions through the Resource solution segment. It generates maximum revenue from the Western region segment. The company's services include Recycling, Collection, Organics, Energy, Landfills, Special Waste as well as Professional Services. | $84 | -28% | $5B | $6B | 3.5x | 15.2x | ||
| Organo Corp is a Japan-based company mainly engaged in the water treatment engineering business. The company operates in two business divisions namely water treatment engineering and functional product. Its water treatment engineering business includes manufacturing, delivery and maintenance of pure water systems, ultra-pure water systems and wastewater treatment systems for industries, condensate de mineralizers for power stations, waterworks and sewage treatment systems for the public sector. The functional product business encompasses the sale of standardized water treatment equipment, water treatment chemicals, and food processing materials. | $98 | +72% | $4B | $4B | 4.1x | 19.3x | ||
| Zhejiang Weiming Environment Protection Co Ltd is a China-based company engaged in the solid waste disposal business. It is focused on solid waste-related technological development, equipment manufacturing and sales, project investment, project construction, and operational management. The company is also engaged in waste incineration power generation projects. The company's products include waste incineration grates, boilers, and flue gas treatment systems. | $2 | -23% | $4B | $5B | 5.5x | 9.7x | ||
 | Munters Group AB is a provider of energy-efficient air treatment and climate control solutions predominantly within the food, pharmaceutical and data center and other sectors. The company operates in segments, which are: AirTech, Data Center Technologies, and FoodTech. The majority of the revenue is generated from its AirTech segment, which manufactures and markets products and solutions for controlling humidity and improving the indoor climate. Geographically, a majority of its revenue is generated from the United States and the rest from China, Germany, the United Kingdom, Canada, Sweden, and other markets. | $22 | +47% | $4B | $5B | 2.8x | 18.8x | ||
| China Everbright Environment Group Ltd engages in construction and operation of environmental energy and water projects such as waste-to-energy plants, food and kitchen waste treatment projects, and sludge treatment and disposal projects. It also provides waste sorting, renewable resources utilization, and sanitation operation services. The company has several segments including Environmental energy project construction and operation, Greentech project construction and operation, Environmental water project construction and operation, and Others. | $1 | +30% | $4B | $14B | 3.9x | 10.6x | ||
 | Cleanaway Waste Management is Australia’s largest waste management business with a national footprint in the collection and disposal of waste. It is active in municipal and commercial and industrial waste stream segments and in nonhazardous and hazardous liquid and medical waste. While Cleanaway is allocating greater capital to waste processing and treatment, earnings remain skewed toward waste collection. The company is particularly strong in commercial, industrial, and municipal waste collection with strong market share in all large Australian metro waste collection markets. | $2 | -14% | $4B | $5B | 2.0x | 10.5x | ||
| Fujian Longking Co Ltd is a atmospheric environmental protection equipment manufacturing company.It researches, develops, manufactures, and sells electrostatic precipitators, flue gas desulfuration units, air pollution control equipment, and other environmental protection products. | $2 | +42% | $3B | $4B | 2.1x | 12.8x | ||
 | Tomra Systems ASA provides sorting and recycling solutions to equip customers for handling waste. The company creates and delivers sensor-based solutions that contribute to optimal resource productivity, in packaging, collection, compaction, recycling, ore sorting, and food production. It provides reverse vending machines, sensor-based sorting machines integrated post-harvest solutions, sensors for waste sorting applications, and other related products and solutions. The company's operating segments are; TOMRA Collection which generates key revenue, TOMRA Recycling, TOMRA Horizon, and TOMRA Food. Geographically, the company generates maximum revenue from Europe (excluding Northern Europe), followed by Northern Europe, America, Asia, and Oceania. | $10 | -37% | $3B | $4B | 2.4x | 11.8x | ||
| Shenzhen Expressway Corp Ltd is a Company engaged in the construction, operation, management, and investment of toll highways and environmental protection in China. Environmental protection mainly includes recycling and treating solid waste and clean energy power generation. The group has identified two reporting segments, namely the toll road segment and the environmental protection segment. The toll road segment takes charge of the operation and management of toll roads in Mainland China. The environmental protection segment operates and manages environmentally related infrastructure, mainly including solid waste treatment, clean energy, and other related fields. The majority of its revenue is derived from the Toll segment. | $1 | -13% | $3B | $6B | 4.7x | 8.8x | ||
| CECO Environmental Corp serves the energy, industrial, and other niche markets. The company operates through the Engineered Systems segment that serves the power generation, refinery, water/wastewater, and midstream oil and gas markets, and Industrial Process Solutions segment, which serves the broad industrial air pollution control, beverage can, fluid handling, electric vehicle production, food and beverage, semi-conductor, process filtration, pharmaceutical, petrochemical, wastewater treatment, wood manufacturing, desalination, and aquaculture markets. The majority of revenue is earned from the Engineered Systems Segment. | $81 | +186% | $3B | $3B | 4.1x | 24.4x | ||
 | CIA Saneamento Do Parana-SANEPAR provides treated water supply sewage collection & treatment, and Solid waste management services. The company provides sanitation services to cities, smaller areas, and municipalities. The firm operates in two business segments: Water treatment & distribution and Sewage collection & treatment. It has a network for the withdrawal & distribution of drinking water, sewage collection, and the discharge of treated sewage. The firm operates landfills in Apucarana, Cornello, Procopio, and Cianorte for solid waste management. The majority of revenue get derived from the Water distribution and treatment segment. | $2 | +26% | $3B | $3B | 2.2x | 4.6x | ||
 | Veridis Environment Ltd focuses on developing and implementing services and ventures in its core business waste, water, and energy. The company provides advanced waste collection services to local authorities, organizations, and industry. | $17 | +102% | $3B | $3B | 3.7x | 12.3x | ||
| PureCycle Technologies Inc is a Florida-based corporation focused on commercializing a patented dissolution process to physically separate the polymer from other plastics, color, and contaminants (the Technology), originally developed by The Procter & Gamble Company (P&G), for restoring waste polypropylene into resin with near-virgin characteristics, called PureFive resin. PureFive resin represents the family of recycled resin products produced, including ultra-pure resin and other grades used for compounding to meet customer specifications, which has similar properties and applicability for reuse as virgin polypropylene. It has a single operating segment, which encompasses integrated business activities related to the recycling of polypropylene into resins. | $14 | +2% | $3B | $3B | 339.2x | (33.9x) | ||
| Daiei Kankyo Co Ltd is a engaged in the waste-related business. It focuses on collection and transportation, intermediate treatment and recycling, and final disposal of both general and industrial waste and valuable resource recycing business. | $24 | +19% | $2B | $3B | 5.5x | 15.4x | ||
 | Aguas Andinas SA delivers water-treatment solutions and other sanitation services under concession arrangements from the Chilean government. The company collects, cleans, and distributes water to residential, commercial, and industrial clients. Also, the company treats and disposes sewage and remnants from the process. Wastewater is decontaminated and used for irrigation systems. Aguas Andinas has two operating segments: water (a majority of total revenue) and nonwater. The company gathers water flowing from the Andes and has plants to transform it into a usable form. It uses tanks and an extensive underground network to distribute water to customers. | $0 | -2% | $2B | $3B | 4.3x | 9.0x | ||
| Realord Group Holdings Ltd is an investment holding company that operates in the following segments: Property Segment; Financial Services Segment; Environmental Protection Segment; Motor Vehicle Parts Segment; LAC Segment and Other segments include Hangtags and Cinema Operations. The Group engaged in various activities, including property investment, financial services, environmental protection, motor vehicle parts distribution, commercial printing, department store operation, and citizenship application & consultancy services. The Group also developed a project in Grenada that integrates educational facilities, apartments, hotel & resort facilities, commercial & shopping facilities, and university establishments. | $1 | +59% | $2B | $4B | 52.2x | (100.5x) | ||
| China Tianying Inc is an environmental protection and new energy enterprise. The company is engaged in the investment, build, operation and maintenance of MSW incineration power generation and steam manufacture, sludge treatment, food waste treatment, hazardous waste treatment, construction waste treatment, wastewater treatment and others. Its services include Research and Design, Urban Services, Disposal and Recycling, Equipment and Platforms and New Energy. | $1 | -- | $2B | $3B | 4.5x | 13.5x | ||
| Derichebourg SA is a France-based company that offers environmental services. Its activities can be divided into two separate branches, the Environment Division and the Multiservices Division. The Environment Division's core business is the processing and disposal of waste, mainly metal waste and end-of-life products, with the recovery of secondary raw materials by using the appropriate processing methods. Derichebourg Multiservices, the group's Business Services arm, provides reception, cleaning, energy, property maintenance, and temporary staffing services separately or in tandem with the Derichebourg Group's waste management services. | $12 | +78% | $2B | $3B | 0.7x | 7.1x | ||
| Befesa SA provides sustainable services for the recycling of hazardous residues from the Steel & Aluminium industry. It operates in two business segments: Steel dust recycling services & aluminum salt slags recycling services. In the Steel Dust Recycling segment, the company collects & recycles steel dust and other steel residues generated in the production of crude, stainless, and galvanized steel. The Aluminum Salt Slags recycling services are divided into salt sags & secondary aluminum segments. Its secondary aluminum operations include the collection and recycling of aluminum scrap and other aluminum residues. The geographical segments are Spain, Germany, Netherlands, Belgium, Finland, France, etc. | $42 | +30% | $2B | $2B | 1.7x | 8.1x | ||
| Shanghai Environment Group Ltd is a solid waste integrated service provider. It deals with the disposal and disposal of municipal solid waste, municipal sewage, hazardous waste, municipal sludge, kitchen waste and contaminated soil. Further, the group is engaged in providing high-efficiency, high-tech, high-standard one-stop services and package solutions such as including consulting, investment, construction, and operations to governments and customers. Geographically the business activities are carried out through China. | $1 | -4% | $1B | $3B | 3.1x | 11.5x | ||
| Takuma Co Ltd develops a variety of technologies for waste and water treatment. It designs and constructs boilers, plant machinery, pollution-prevention plans, heating and cooling equipment, and sanitation equipment and facilities. Incinerators and recycling centers help sort, treat, and disperse resources in an efficient manner. The majority of customers are in Japan. The company works to provide solid waste treatment plants partnered with a selection of after-sales services and products. Takuma has four operating segments: domestic environment and energy, overseas environment and energy, package boiler, and equipment and system business. Cleaning systems, filters, and other equipment produce comfortable working conditions for customers. | $20 | +57% | $1B | $1B | 1.3x | 11.7x | ||
| Orizon Valorizacao De Residuos SA is a waste treatment and recovery company. The company offers solid waste treatment services, treatment of gases, processing and industrialization of waste, monitoring groundwater, and environmental remediation services. | $15 | +45% | $1B | $2B | 8.4x | 16.0x | ||
| Kanadevia Corp is engaged in designing, constructing, and manufacturing Waste Energy plants, desalination plants, water and sewage treatment plants, marine diesel engines, press machines, process equipment, precision machinery, bridges, hydraulic gates, and equipment for use in disaster prevention/mitigation. | $8 | +32% | $1B | $2B | 0.5x | 8.6x | ||
| Daiseki Co Ltd provides industrial waste treatment and resource recycling throughout Japan. Its core business activities are treating waste oil, waste water, and sludge. It collects and recycles oils and waste water from clients and processes the waste into heavy oil or supplemental fuel. Separators and filters remove deteriorated components, and other systems either refine or adjust products into reusable form. Final products are either delivered back to clients or shipped to market. Advanced technology partners with experienced employees to analyze and classify the particular waste to determine the correct solution; methods revolve around dehydration, kneading, and a combination of mixing and chemical treatment. | $24 | +11% | $1B | $1B | 2.4x | 9.4x | ||
 | GVS SpA is a manufacturer of filter solutions for applications in the Healthcare and Life Sciences, Energy and Mobility and Health and Safety sectors. Its products include healthcare liquid; healthcare air and gas; microfiltration; microbiology; environmental monitoring; disc and sheet membranes; molecular biology; technical documentation; fuel and diesel injector filters; ABS / ESP - braking filters; steering and transmission filters; fuel tank filters; ventilation membrane; throttle body; SCR tecnology - urea filter; among others. It operates in industries: Aerospace, Agriculture, Automotive, Beauty, Biotech, Building, Construction, DIY, Food & Beverage, Healthcare, Home & Appliance, Laboratory, Microelectronics, Mining & Metal, Motorcycle, Oil & Gas, Rail, Shipyard and Vet. | $5 | -15% | $923M | $1B | 2.4x | 9.7x | ||
| Metawater Co Ltd is a Japan-based company, which offers optimum solutions for creating a circulation of water recourses while focusing on the plant engineering business and service solution business. It manufactures mechanical and electrical equipment for water and wastewater treatment. The company operates in two segments; Plant Engineering segment, which involves in the design, procurement and sale of mechanical and electrical equipment, used in water purification plants and sewage treatment plants; and the Service Solution segment involves in the repair, maintenance and operation management of mechanical and electrical equipment used in water purification plants and sewage treatment plants, providing equipment inspection, repair, maintenance, and other services. | $20 | +46% | $888M | $966M | 0.9x | 11.8x | ||
| Seche Environnement SA is a France-based company that offers waste management services. It accepts and treats various categories of waste, such as dispersed hazardous and non-hazardous, medical waste, and waste from electronic equipment. Geographically, the company operates in France, Europe, and Rest of the world.. | $95 | -18% | $736M | $1B | 1.0x | 5.5x | ||
| Enviri Corp is a market-leading, provider of environmental solutions for industrial and specialty waste streams, and equipment and technology for the rail sector. The company's current operations consist of three divisions: Harsco Environmental, Harsco Rail, and Clean Earth. The company gains its revenue from Harsco Environmental segment. Geographically company operates in USA and International Countries, with majority revenue from USA. | $20 | +127% | $554M | $2B | 1.7x | 62.2x | ||
 | Porvair PLC is an environmental treatment control company. It develops filtration solutions to be used by various types of industries. The company caters to its clients through three divisions, Aerospace and Industrial, Laboratory and Metal Melt Quality. The Aerospace and Industrial Division is a key revenue generator, principally serving the aviation, and energy and industrial markets. Laboratory Division principally serving the bioscience and environmental laboratory instrument and consumables market. Metal Melt Quality Division principally serving the global aluminium, North American Free Trade Agreement (NAFTA) iron foundry and superalloys markets. The company generates the majority of its manufacturing revenue from sales in the United States. | $11 | +16% | $514M | $502M | 1.9x | 11.4x | ||
 | Ion Exchange (India) Ltd offers a wide range of solutions across the water cycle from pre-treatment to process water treatment, wastewater treatment, recycling, zero liquid discharge, sewage treatment, packaged drinking water, seawater desalination, etc. It also engaged in manufacturing resins, and specialty chemicals for water and wastewater treatment as well as non-water applications. It operates its business through the Engineering segment, which is a key revenue driver that comprises water treatment plants, spares, and services in connection with the plants; the Chemicals segment consists of resins, water treatment chemicals, sugar chemicals, and paper chemicals; and the Consumer Products segment comprises domestic water purifiers. It caters to both domestic and international markets. | $4 | -38% | $447M | $463M | 1.5x | 15.8x | ||
| Energy Recovery Inc is an engineering-driven technology company. It is engaged in engineering, designing, manufacturing and supplying solutions that make industrial processes more efficient and sustainable. The company operates in three segments, Water, Emerging Technologies and Corporate. It offers energy recovery devices (ERDs) and pumps as well as related products and services to the reverse osmosis desalination market. The company derives a majority of the revenue from the Water segment. Geographically, the company operates in the U.S. and other international countries. | $8 | -35% | $427M | $350M | 2.6x | 9.2x | ||
 | Ecopro HN Co Ltd develops PFCs catalysts, greenhouse and harmful gas reduction devices, chemical filter manufacturing technology, and energy-saving VOC removal systems. It has been in the field of air pollution prevention and post-treatment. Its business areas include Chemical Adsorbent, Air Pollution Prevention System, Chemical Air Filter, GHG (Greenhouse Gas), Total Environmental Solution. | $20 | +21% | $422M | $400M | 4.3x | 26.5x | ||
| Campine NV is a battery recycling company in Europe. It recovers the lead and other metals, as well as the plastics from the casings. Its operating segments are Specialty Chemicals and Circular Metals. Specialty Chemicals hosts all businesses which serve end-markets with chemical products and derivatives. The manufacturing of antimony trioxide used as flame retardant, polymerization catalyst and pigment reagent and the production of different types of polymer and plastic masterbatches. Circular Metals hosts the businesses in which metals are being recovered from industrial and post-consumer waste streams. The main activity is the manufacturing of lead alloys. Geographically majority of revenue is been derived from Germany. | $281 | -8% | $421M | $419M | 0.5x | 4.2x | ||
| Cambi ASA is a provider of thermal hydrolysis, anaerobic digestion, and biogas solutions for sewage sludge and organic waste management. The services of the company include Engineering Design, Installation, Sample Testing, Commissioning, and Digester Ramp-Up among others. It operates through two business segments: The Technology segment comprises the research, development, sale, manufacturing, and delivery of THP plants and ancillary equipment to customers. The Solutions segment comprises all services to the growing installed base of Cambi THP plants, including upgrades, capacity expansions, maintenance, and operations, previously found in the Cambi Group segment as the Services subsegment. | $2 | +18% | $375M | $358M | 3.1x | 16.6x | ||
 | Mo-BRUK SA is a Poland based company engaged in providing waste management services. It collects, recovers and disposes of hazardous and non-hazardous waste. It also engaged in the construction of roads and runways among others. | $99 | +30% | $347M | $384M | 4.9x | 11.9x | ||
 | Envipco Holding NV is a recycling technology company. It is a recognized leader in the development and operation of reverse vending machines (RVMs), automated technological systems for the recovery of used beverage containers. It is known for its latest technology and market leadership, and holds several intellectual property rights for RVM systems, including but not limited to beverage refund deposit markings, material type identification, compaction, and accounting. Geographically, it operates through Europe, which is its key revenue generating market, and North America. | $5 | -46% | $335M | $316M | 2.8x | 187.3x | ||
 | Promotora Ambiental SAB de CV provides private and domestic solid waste collection services, construction and operation of landfills. The company offers services to the petroleum industry in Mexico. | $2 | +7% | $302M | $396M | 0.9x | 3.9x | ||
 | Lassila & Tikanoja PLC is engaged in environmental management and property and plant maintenance. The company's business consisted of two operating and reportable segments: Environmental Services and Industrial Services. It operates in Finland and Sweden. | $8 | -- | $298M | $486M | 1.0x | 5.0x | ||
| Agilyx ASA is a developer of conversion technologies across the value chain intended to offer two molecular recycling product pathways enabling a circular economy for polystyrene and polymethyl methacrylate. The company offers waste sourcing and processing, thereby helping the entire plastic recycling market to convert recycled waste plastics into valuable resources such as oils and chemical substrate products. The company has two reportable segments: Agilyx and Cyclyx. It derives the majority of its revenue from the Cyclyx segment. | $2 | -15% | $297M | $367M | 302.0x | (29.0x) | ||
| Andrews Sykes Group PLC engages in the rental of pumping equipment and specialist climate control products, which include air conditioning and chillers, heating and boilers, dehumidifiers, and ventilation units. Its operating segments are Hire & Sales UK, Hire and Sales Europe, Hire and Sales Middle East, and the UK installation business. The majority of the revenue is derived from the Hire & Sales UK segment. Its geographical segments are the United Kingdom, Europe, the Middle East & Africa, and the Rest of the World. | $7 | -2% | $291M | $273M | 2.7x | 6.1x | ||
| Groupe Pizzorno Environnement is engaged in providing environmental services in France. It is involved in the collection, compaction, pressing, truck transportation, sorting, and treatment of household, commercial, and industrial waste. The company also provides sanitation services, including sewer and septic tank cleaning, and clean and dirty water system maintenance, as well as cisterns, basements, and other inundated sites pumping services; and industrial cleaning services for commercial spaces, malls, offices, public buildings. | $71 | -3% | $274M | $308M | 1.0x | 4.0x | ||
| Absolent Air Care Group AB manufactures and sells filtration technology for industrial process air. Its products are used in CNC operations, quenching, die casting, and related applications. The company has two segments: Industrial and Commercial Kitchen. | $21 | -9% | $240M | $257M | 1.8x | 11.1x | ||
| Perma-Fix Environmental Services Inc is a provider of both nuclear services and the management of nuclear and mixed waste. The company operates through two segments: The treatment segment offers nuclear, low-level radioactive, Mixed, hazardous and non-hazardous waste treatment, processing and disposal services, and the Services segment which generates the majority of the revenue, provides on-site waste management services to commercial and government customers, technology-based services, construction, logistics, and transportation services among others. | $10 | -3% | $217M | $214M | 3.5x | (24.7x) | ||
| Studsvik AB provides engineering and consultancy services to the international nuclear power industry. The company offers fuel and materials testing, fuel and reactor management software as well as lifecycle management of nuclear and radioactive hazards, decommissioning of nuclear facilities, and designing radioactive waste management processes. Its segments are Fuel and Materials Technology, Waste Management Technology, Scandpower, Decommissioning and Radiation Protection Services and Other. | Nuclear+2 | $25 | +48% | $215M | $224M | 2.3x | 19.4x | |
| Orzel Bialy SA is a Poland based company engaged in recycling of used batteries. The company delivers its products to battery making companies, with batteries and accumulators supplied mainly to the automotive industry. | $11 | +9% | $182M | $52M | 0.3x | 1.4x | ||
| NX Filtration NV is a provider of direct nanofiltration membrane technology for producing pure and affordable water to improve quality of life. . NX Filtration sells its filtration membranes in the form of modules in its two business lines: Clean Municipal Water and Sustainable Industrial Water Geographically, it derives a majority of revenue from Europe (excluding the Netherlands) and also has a presence in North America; Asia, and Rest of World. | $3 | -30% | $170M | $167M | 10.7x | (9.2x) | ||
| Res SpA operates in the waste sector. The business activity is mainly focused on the collection and sorting of materials. The company deals with the entire waste management process from selection to functional treatment and transformation to the regeneration and recovery of waste and reuse as production raw materials. | $9 | +31% | $151M | $144M | 4.0x | 11.6x | ||
 | ESGL Holdings Ltd is a waste management, treatment, and recycling company involved in the collection and recycling of hazardous and non-hazardous industrial waste from customers such as pharmaceutical, semiconductor, petrochemical, and electroplating companies. | $3 | -2% | $129M | $135M | - | - | ||
 | Pyrum Innovations AG is a recycling technology company. The company recycles end-of-life tyres with its patented pyrolysis technology, obtaining new raw materials such as recovered carbon black, pyrolysis oil and gas. The company operates in the recycling market for end-of-life tyres. It generates revenue from customers in Germany and European Union. | $30 | -15% | $127M | $145M | 30.1x | (24.1x) | ||
| Carbios SA specializes in developing industrial bio-process for the recycling of plastic waste and the production of the biopolymer. The company creates a new generation of fully biodegradable plastics with a controlled lifespan, a process enabling infinite biorecycling of plastic waste (PET) and a new biological pathway to produce biosourced polymers. It uses Biodegradation; Biorecycling and Bioproduction techniques. | $7 | -14% | $125M | $86M | 541.5x | (3.0x) | ||
| Lassila & Tikanoja Oyj provides waste management and recycling operations, cleaning and repair services, construction, and other environment-related activities. It works to reduce waste, extend the useful lives of properties, recover materials, and reduce energy consumption. The company manages different forms of waste, including electrical equipment and paper. The waste is transformed into raw materials and fuel for power plants. Lassila & Tikanoja has four reportable segments: Environmental services, Industrial services, Facility services Finland and Facility Services Sweden. It generates the majority of its revenue from Environmental Services. | $3 | -- | $118M | $118M | - | - | ||
| Arq Inc is an environmental technology company principally engaged in the sale of consumable air, water, and soil treatment solutions including activated carbon (AC) and chemical technologies. The company manufactures and sells activated carbon and other chemicals used to capture and remove contaminants for the coal-fired power generation, industrial, municipal water and air, water and soil treatment and remediation markets. Some of the products in its portfolio are Powdered Activated Carbon, Granula Activated Carbon, and Colloidal Carbon Product among others. | $3 | -50% | $114M | $148M | 1.2x | 11.2x | ||
| Ekopak NV is an environmental, social, and governance-driven off-grid water solution company. The company includes two segments: WaaS & Project Business. With Water-as-a-Service (WaaS), the company offers a carefree service from A to Z. The contract with the customer is, in substance, the delivery, during the contractual period, of a guaranteed minimum volume of water which meets the contractual quality requirements under the DBFMO contracts. The Project Business model includes the traditional sales, recurring services, consumables, and short-term rental sales. The majority of revenue is from Project Business. The company operates in Europe, APAC, Africa, and the Americas. | $5 | -31% | $88M | $176M | 2.9x | (34.6x) | ||
| Haiki+ SpA is a waste management company. It provides environmental consultancy and timely services in the territory, and technological development, through sustainability, people, and, the circular supply chain. | $1 | +13% | $86M | $169M | 0.5x | 3.3x | ||
| Soiltech ASA is specializing in the treatment, recycling, and responsible handling of contaminated water and solid industrial waste streams at the site. Its services are Slop treatment, Water treatment, Cutting handling, Cutting treatment, Swarf treatment, Cleaning services, and Other services. | $9 | +35% | $83M | $104M | 2.4x | 10.7x | ||
| LanzaTech Global Inc is a carbon management company transforming waste carbon into sustainable fuels, fabrics, packaging, and nutrition. Its goal is to advance a circular economy where carbon is reused rather than wasted, reducing reliance on virgin fossil resources and supporting supply chain resilience. The company operates in North America, Europe, Middle East, Africa (EMEA), Asia, and Australia. | $7 | -74% | $78M | $85M | 1.5x | (1.2x) | ||
| Airtech Japan Ltd is engaged as a manufacturer of clean air system, manufacture and sell clean room, clean bench, and biohazard system. The products of the company include sterile operating room, dust removal air shower, double air shower, and air knife type pass box. | $8 | +16% | $77M | $66M | 0.7x | 5.6x | ||
| Calix Ltd is an Australian technology company. The company's patented core platform technology delivers efficient indirect heating of minerals to enable the electrification of industries, efficient capture of unavoidable CO2 emissions, and green industrial processing solutions. Its core technology platform includes the Calix Flash Calciner (CFC). The group operates in three business segments, namely: Leilac (CO2 mitigation), Sustainable Processing, and Magnesia. It has operations in Australia, New Zealand, Asia, Europe, and the United States of America. The company generates the majority of its revenue from Magnesia. | $0 | +42% | $72M | $65M | 3.0x | (8.2x) | ||
| Infragreen Group Ltd owns, operates and grows sustainable infrastructure businesses across Australia and New Zealand. Its subsidiaries operates across two key industries: recycling and waste recovery, and clean energy and energy transition. | $0 | -- | $71M | $65M | - | - | ||
| Vow ASA develops and delivers technology and solutions to bring an end to waste and help industries decarbonise. The solutions purify wastewater and convert biomass and waste into valuable resources, generating CO2-neutral energy and biocarbon that decarbonise industrial processes. The group is organised across three operating segments: Industrial Solutions, Maritime Solutions, and Aftersales. Maximum revenue is generated from the Maritime Solutions segment, which includes wastewater purification, garbage handling, food waste treatment, and sludge processing solutions for the cruise industry. Geographically, the company generates a majority of its revenue from Europe. | $0 | -11% | $67M | $119M | 1.1x | (23.2x) | ||
| Aurea is a France-based company which operates in the environmental and sustainable development sector. The company focuses on activities related to the recycling of motor oils, to the production of wheels with solid rubber tires at the base of used tires, and to the recycling of polyvinyl chloride (PVC). | $7 | +2% | $62M | $74M | 0.3x | 4.9x | ||
| Concord Enviro Systems Ltd is engaged in the business of manufacturing water treatment systems, water pollution control equipment, bio filters, resource recovery systems using membrane technology, and operational and maintenance services. Geographically, the company generates maximum revenue from its business in India, and also caters to international market to some extent. | $3 | -57% | $55M | $65M | 1.1x | 9.7x | ||
| Ambipar Participacoes e Empreendimentos SA is engaged in providing environmental services to several private clients in Latin America. Through its Environment segment, the company provides complete solutions in waste management and recovery, with the support of a center for research, development, and innovation. Its response segment provides prevention, training, and emergency assistance to accidents with chemicals and pollutants and firefighting. | $0 | -99% | $53M | $2B | 1.2x | 4.5x | ||
 | Unibios Holdings SA, through its subsidiaries, provides technologies for the responsible use of water and energy. Its activities include the treatment, filtration, water management, heating, and air conditioning, combined with energy saving. | $3 | +20% | $50M | $55M | 3.4x | 14.9x | ||
 | Bosques Amazonicos SAC is engaged in economic, social and environmental development of Peru. Its purpose is to protect and restore the value of the ecosystems of the Amazon to mitigate the effects of climate change; conserve the biodiversity of the Amazon. | $1 | -- | $50M | $50M | - | - | ||
| Grino Ecologic is a group of industrial companies which focuses on environmental services and green energy generation. The company operates in environmental services, waste treatment, energy, and construction. | $2 | +25% | $47M | $60M | 0.8x | 4.8x | ||
| Fuel Tech Inc is an technology provider of boiler optimization, efficiency improvement, and air pollution reduction to utility and industrial customers. The company operates in two segments, Air Pollution Control and Fuel Chem. The Air Pollution Control technology segment includes technologies to reduce NOx emissions in flue gas from boilers, incinerators, furnaces and other stationary combustion sources. The Fuel Chem technology segment uses chemical processes in combination with Computational Fluid Dynamics and Chemical Kinetics Modeling boiler modeling for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in furnaces and boilers through the addition of chemicals into the furnace using TIFI Targeted In-Furnace Injection technology. | $1 | -42% | $46M | $25M | 0.9x | (9.2x) | ||
| 374Water Inc offers a technology that transforms wet wastes such as sewage sludge, biosolids, food waste, hazardous and non-hazardous waste, and forever chemicals (e.g., PFAS) into recoverable resources by focusing on waste as a valuable resource for water, energy, and minerals. The company's business activities include manufacturing processes and waste recycling and treatment processes, which currently involve the use, treatment, storage, transfer, handling and/or disposal of hazardous materials, chemicals and wastes. | $3 | -21% | $45M | $46M | 214.3x | (2.3x) | ||
 | VERTIKAL Group Nyrt is a key player in the field of environmental management and environmental protection on the domestic market. | $0 | +50% | $41M | $50M | 0.7x | 4.9x | ||
| QleanAir AB is a provider of clean indoor environment solutions. The company’s business model is based on rental contracts for modular solutions with a full-service offer. Its solutions are developed using filter technology that traps, filters and recycles indoor air. The product portfolio consists of stand-alone air cleaners (Air Cleaners), solutions for protection against passive smoking (Cabin Solutions) and flexible, modular cleanrooms (Cleanrooms). The company’s main markets are EMEA, APAC and the Americas. | $2 | +14% | $34M | $48M | 1.0x | 5.9x | ||
| The Environmental Group Ltd is a facility service and environmental solutions company. Its principal activities are the design, application, and servicing of gas and vapor emission control systems, inlet and exhaust systems for gas turbines and engineering services, and water treatment, service, and maintenance of commercial boilers and engineering services, to a wide variety of industries. Its operating segments include EGL Clean Air TAPC, EGL Clean Air Airtight, EGL Energy, EGL Turbine Enhancement, EGL Waste, and others. It generates the majority of its revenue from the EGL Energy segment. | $0 | -51% | $34M | $42M | 0.5x | 5.9x | ||
 | SW Umwelttechnik Stoiser & Wolschner AG develops and produces precast concrete elements for water protection and infrastructure. Its product range extends from mineral oil separators, harvesting systems, rainwater sewage treatment plants and large basins to fish migration aids and elements made of ultra-high-strength concrete. | $46 | +18% | $34M | $109M | 0.8x | 6.3x | ||
| Capsol Technologies ASA is a carbon capture technology provider to accelerate the transition to a carbon-negative future. Its technology combines inherent heat recovery and generation in a standalone unit based on a safe solvent. Capsol’s technology is licensed either directly to customers or through industrial partners globally across key segments, including cement, biomass, energy-from-waste, and gas turbines. It has only one reporting and operating segment, which is the carbon capture solution technology. Geographically, the company generates a majority of its revenue from Europe and also has a presence in the United States and other regions. | $0 | -55% | $33M | $35M | 4.6x | (6.4x) | ||
| Grupa RECYKL SA is engaged in waste management services in Poland. The company primarily involved in the recovery and recycling of worn tires. It also provides rubber granulates for burning in cement industries; rubber granulate with fibers and steel cords. | $18 | +2% | $31M | $46M | 1.2x | 6.9x | ||
| Quest Resource Holding Corp is a national provider of waste and recycling services to customers from across multiple industry sectors that are typically larger, multi-location businesses. The company creates customer-specific programs and perform the related services for the collection, processing, recycling, disposal, and tracking of waste streams and recyclables. The company's services focus on the waste streams and recyclables from box, grocers, and other specialty retailers; automotive after-market operations such as automotive maintenance, quick lube, dealerships, and collision repair; transportation, logistics, and fleet operators; manufacturing and industrial facilities; multi-family and commercial properties; restaurant chains and food operations, etc. | $1 | -32% | $29M | $94M | 0.4x | 10.1x | ||
| Scandinavian Enviro Systems AB functions as a recycling company in Sweden. Its technology enables changing the chemical composition and the physical phase of the tire material during the process. The company operates recycling facilities for recovering carbon black, oil, steel, and gas from waste tires. | $0 | -70% | $29M | $21M | 6.4x | (0.6x) | ||
| ClearSign Technologies Corp is engaged in providing solutions to some of the pressing productivity, energy efficiency, and pollution problems affecting the energy, oil, and gas production, boiler, and processing industries. It believes that its patented ClearSign Core technology can enhance the performance of combustion systems in a broad range of markets, including the energy (upstream oil production and downstream refining), institutional, commercial, and industrial boiler, chemical, and petrochemical industries. The company offers products that include process burners, boiler burners, flares, and ClearSign Eye. | $4 | +664% | $26M | $19M | 3.6x | (3.3x) | ||
| Wolftank Group AG is a technology partner around the world of energy and environmental solutions. The Group supports energy mobility and logistics projects that are efficient and good for the environment. It develops and implements technologies to decarbonize transport and build the infrastructure for zero-emission mobility, such as turnkey delivery of modular hydrogen and LNG refueling facilities. In the area of environmental solutions, the offering includes due diligence for environmental risks, customized services for soil and groundwater remediation, as well as recycling. | $5 | -38% | $26M | $43M | 0.3x | 5.6x | ||
| Global Clean Energy Inc is a waste-to-energy alternative fuels company in Texas. The company focuses on technologies and initiatives that promote environmental stewardship and economic growthThe primary business of the group is developing and marketing proprietary technology in waste-to-energy management and feedstock conversion. The company is planning to develop products with algae as the key ingredient. It plans to sell fertilizer and feed for livestock. | $0 | -- | $21M | $21M | - | - | ||
| M Vest Water AS is an environmental technology company that has developed products and solutions for the water treatment industry, both in Industrial as well as Municipal markets. It is engaged in providing products and equipment utilized for the treatment and purification of water and wastewater. The company focuses on the oil and gas industry, aquaculture, and other industries, although the available technology can be applied for cleaning water across various industries. The product portfolio of the company comprises NorwaFloc, NORWAPOL, and AFM. | $1 | -44% | $20M | $20M | 6.2x | (16.0x) | ||
| Orege is engaged in providing solutions for the treatment of complex effluents and sludge. Its two proprietary technologies SOFHYS and SLG provide treatment solutions to oil and gas, chemistry, municipal and agri-food sectors. | $0 | +17% | $19M | $96M | 27.1x | (16.2x) | ||
| Norditek Group AB is an environmental technology company with a focus on mobile and flexiblerecycling facilities in the Waste, Gravel & Rock and Biomass segments. | $1 | -21% | $19M | $23M | 2.0x | 9.8x | ||
 | BactiQuant AS focuses on delivering technology that ensures optimum usage and handling of water around the world. The company's activities include the development, production, sale and service of BactiQuant Online and BactiQuant Mobile Lab with associated test kits/substrate for the quantification and detection of bacteria in water. Its segments are Aquaculture, Data Centres, Oil & Gas, Water Utility, Industry, and Pharma. The group's products are BQ Online 2.0 PRO, BQ Online, BQ Mobile Lab, and Analysis Kits. | $0 | +22% | $19M | $17M | 13.3x | (10.6x) | ||
| GEL SpA is an Italian company engaged in the business of designing and manufacturing products to treat water. The company offers filters, disinfectants, softeners, dosers, mud removers, conditioners, and other water treatment products to its clients. In addition, it provides water treatment services for the following divisions; Medical, Food, and Mobile Installations. Desalination services and leachate treatment services are also provided by the company. | $2 | +5% | $15M | $17M | - | - | ||
| De.mem Ltd is Singaporean-Australian de-centralized water and waste water treatment business. It designs, builds, owns and operates water and wastewater treatment systems for its clients. De.mem operates in the industrial segment providing systems and solutions to customers from mining, electronics, chemicals, oil and gas, and food and beverage industries as well as in the municipal and residential segments. Company products includes: Disinfection System, Biological Treatment, Chemical Treatment, Membrane Based Water Treatment System, and Others. The company operates in Australia, Singapore and Germany. | $0 | -- | $14M | $13M | 0.6x | 11.3x | ||
| PowerHouse Energy Group PLC designs non-recyclable waste regeneration facilities to produce electricity, heat, and gases such as hydrogen and Syngas (Synthetic natural gas), whilst removing carbon from the ecosystem. It provides associated engineering and testing services and customer support for the lifetime of the facility. Its offering includes its Distributed Modular Generation (DMG) product platform for the thermal treatment of waste streams, converting it to a synthesis gas, which can then be processed further as required. It generates the majority of revenue from Engineering and related services and includes Exclusivity fees and others. | $0 | -- | $14M | $13M | 19.3x | (2.0x) | ||
| EcoUp Oyj provides technologies for upcycling construction waste and transforming it into re-usable materials that can be circulated again. It offers carbon-neutral, surplus-free and energy-saving materials, services, and technologies, enabling green transition in the construction industry. | $1 | -34% | $14M | $20M | 0.6x | 14.3x | ||
| Median | $6 | +2% | $300M | $363M | 2.4x | 9.1x |
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