Since childhood, students are advised about the prohibition of plastic usage. Recycled, reusable materials should be used. It grooms the environment, and eventually, it will affect us.
Jeremiah introduced a unique product of renewable plastic bottles. Sounds interesting right? It appeared in Dragon’s Den event. What happened inside the Den?
Read the article to know about it and the product as well as the owner.
About the Founder
Guy Jeremiah is an ecological entrepreneur who recognized the necessity to address the trash produced by disposable plastics. He created the Aquatina in the hope to lessen the harm that reusable plastic bottles were doing to the ecosystem.
The Aquatina is a renewable replacement for recyclable plastic bottles. It is a disposable concertina-shaped bottle that the user may extend or contract as necessary. It endures for a maximum of nine years, is suitable for dishwashers, and can store up to 500ml of liquid.
Dragon’s Den Appearance
Jeremiah debuted on the popular show, Dragon’s Den, on March 2020, episode 3 of season 8. He requested for $1,26,939.90 contribution for an equity stake of 10% from fellow entrepreneurs.
Peter Jones objected to the fact that the biodegradable Aquatina would not completely replace the market for water bottles. Commenting on the product, he departed the talks.
Jeremiah was interrogated by James Caan about the numbers, which came down to the estimated retail price of $6.33 and the expense of manufacture of £1.27. Caan dropped the negotiations because of the ratio of real sales to corporate worth. The product, in Duncan Bannatyne’s opinion, was a horrible idea and an inefficient use of time. After hurling the bottle throughout the room, the enraged Dragon abruptly ended the talks.
Deborah Meaden abandoned the discussions because she objected to the harm that a synthetic disposable container does to the ecosystem. Three reuses of each bottle would be necessary before it was equivalent to the ecological price of a reusable bottle.
After Dragon’s Den
Dragons’ Den was not the end for Aquatina. The company was purchased by Marks & Spencers, who then sold the containers in over 15 consecutive nations. Aquatina disproved the Dragons by gaining popularity among viewers, thanks to the publicity it received on the program. Jeremiah redesigned the bottle and changed the business name to Ohyo. Since then, sales of the bottles have increased dramatically and they are now marketed worldwide.
With modifications to the Aquatina model, he has established himself in the athletic sector. The bottles have a pleasant and collapsible spout to sip from and a capacity of 500 ml to 1000 ml. The Ohyo app finds the closest place where you may fill up the container for free with water.
One of the more successful ventures that the Dragons slipped, is currently Aquatina. The estimated fortune of the company is $ 63,46,995.00 now. Guy Jeremiah, the creator of Aquatina, owns an estimated wealth of $ 12,69,399.00 million this year, 2023.
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