What Qstone Capital B.v. does

QStone Capital B.v. is a Netherlands-based independent financial advisory boutique dedicated to advancing SDG6 (Clean Water and Sanitation). The company develops industrial water reuse projects and translates innovative water treatment technologies into cost-covering revenues for water-intensive industries (primarily textiles) and attractive returns for financiers. Operations span Bangladesh, India, and Europe, with regional execution vehicles in place: RecStone Water Technologies Pvt. Ltd., a joint venture with a Tamil Nadu-based textile machine producer in India, and Bangladesh Water Treatment Partners, a fully-owned subsidiary for Bangladesh-based activities.

The company's core technical offering is a Modular Zero Liquid Discharge (ZLD) system — a containerized, approximately 700-square-foot unit achieving up to 95% wastewater reuse. The process chain combines electrocoagulation (EC) for removal of silica, colour, and heavy metals, membrane filtration (UF/RO) to bring wastewater to reusable standard, and evaporation/crystallization for salt recovery. The systems are configurable across knit dyeing, denim washing, and woven production facilities, and are currently being piloted under the SMEP-funded program in Bangladesh.

Revenue mechanics combine financial advisory and project development fees with a novel financing instrument — the 1% Consumer Surcharge Model — in which end consumers of participating garment brands contribute 1% of retail price into an independent investment fund that finances ZLD adoption by manufacturers. The go-to-market is direct enterprise engagement with textile manufacturers and institutional investors, supported by a partnership ecosystem spanning technology providers (Lenntech, Trident), implementation (Kingsley Group), program leadership (Solidaridad/SMEP), and capital markets structuring (TSI Securities). The disclosed team is approximately five senior professionals, including the CEO, a Partner/Country Manager India, a Senior Project Manager, and two Advisors.

Name

Qstone Capital B.v.

Legal name

QStone Capital B.v.

Website

https://qstonecapital.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Netherlands-based independent financial advisory boutique developing industrial water reuse and modular Zero Liquid Discharge projects for textile manufacturers in Bangladesh, India, and Europe, combining containerized treatment technology with the 1% Consumer Surcharge financing model for institutional and brand investors.

Ownership category

akta.pro rank

Product category

Industrial Water Treatment Advisory

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (525990)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Water & Waste / Circular Economy Funds (FSANAJAF)

akta.pro secondary industries

Industrial ZLD/MLD & Brine Concentrate Management (EUANADAG), Advanced Treatment & Purification Utilities (MF/UF, RO, AOP, UV) (EUANAGAD)

Keywords

• Industrial water reuse
• Zero liquid discharge
• Textile water treatment
• Sustainable finance advisory
• SDG6 investment

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Financial Advisory and Project Development: QStone Capital develops industrial water reuse projects and investment opportunities, earning fees and returns from project development and advisory services. The company creates win-win business cases by converting water treatment technologies into cost-covering revenues for industries and attractive returns for financiers.
2. 1% Consumer Surcharge Model: Innovative funding mechanism where end consumers contribute 1% of retail price of garments from participating brands. Funds managed by independent investment fund entity to provide sustainable financing for ZLD system implementation by textile manufacturers.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

QStone Capital is an independent financial advisory boutique dedicated to SDG6 (Clean Water). It develops industrial water reuse projects and translates innovative water treatment technologies into cost-covering revenues for water-intensive industries (especially textiles) and attractive returns for financiers. The firm pairs Modular Zero Liquid Discharge (ZLD) systems with a 1% Consumer Surcharge financing model to deliver circular water management solutions across India, Bangladesh, and Europe.

Product overview

QStone Capital is a financial advisory boutique dedicated to SDG6 (Clean Water), offering a portfolio of industrial water reuse solutions. The core product is the Modular Zero Liquid Discharge (ZLD) Systems — containerized water treatment hardware achieving 95% wastewater reuse, paired with the 1% Consumer Surcharge Model — an innovative financing mechanism that enables textile manufacturers to adopt ZLD technology. Together, these products form a dual approach combining technical water treatment with financial engineering to address industrial water scarcity and pollution.

Differentiator

Problem solved

Functional benefit

Products and services

• Modular Zero Liquid Discharge (ZLD) Systems Containerized industrial water treatment systems achieving up to 95% wastewater reuse for textile manufacturers (knit dyeing, denim washing, woven production). Systems combine electrocoagulation (EC), membrane systems (UF/RO), and evaporation/crystallization for salt recovery, requiring only 700 square feet of footprint.
• 1% Consumer Surcharge Model A pioneering financing mechanism in which end consumers contribute 1% of the retail price of garments from participating brands. Funds are managed by an independent investment fund entity that provides sustainable financing for ZLD system implementation by textile manufacturers.
• Industrial Water Reuse Project Development

Quantifiable outcome

• Achieves up to 95% wastewater reuse through modular ZLD systems
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Seven partnerships are on record, tiered core and key.

• RecStone Water Technologies Pvt. Ltd.coreStrategic or Co-development PartnerJoint venture with a textile machine producer based in Tamil Nadu, India. QStone is a founding shareholder. This is the primary vehicle for QStone's activities in India, focusing on industrial water treatment projects.
• Bangladesh Water Treatment PartnerscoreStrategic or Co-development PartnerFully-owned subsidiary established by QStone Capital for its activities in Bangladesh. Handles local operations and project development for water treatment initiatives.
• LenntechcoreTechnology or IntegrationLenntech Water Treatment Solutions (Netherlands) is a globally recognized design and manufacturing company specializing in innovative water treatment technologies. Key partner in QStone's SMEP-funded Zero Liquid Discharge Pilot Project in Bangladesh, providing expertise in advanced water treatment.
• Kingsley GroupkeyImplementation/ SI/ Consulting PartnerTrusted provider of engineering and industrial solutions specializing in water and wastewater treatment systems. As part of the SMEP consortium, Kingsley is responsible for local commissioning and ongoing maintenance of ZLD systems in Bangladesh.
• Solidaridad NetworkcoreStrategic or Co-development PartnerInternational organization committed to promoting sustainable supply chains. As the lead partner in the SMEP-funded ZLD Project in Bangladesh, Solidaridad drives innovative solutions to reduce environmental impact, with QStone Capital as co-lead.
• Trident Water SystemskeyTechnology or IntegrationProvider of advanced water treatment technologies with extensive expertise in industrial and municipal applications. Key technology supplier collaborating with QStone and Lenntech in the SMEP-funded ZLD Pilot Project in Bangladesh.
• SMEP (Sustainable Manufacturing and Environmental Pollution) ProgramcoreStrategic or Co-development PartnerProgram supporting QStone Capital's pilot implementation of modular ZLD systems in Bangladesh's textile industry. Provides funding and programmatic support for the innovative water management solution.

Scale indicators6 records

Recent moves1 record

Direct peers

• Acumen: Global impact investor with a dedicated water and sanitation portfolio across South Asia and Africa. Comparable as an impact-led investor deploying patient capital into water/sanitation businesses serving low-income markets, often alongside development finance institutions.
• Circulate Capital: Investment firm dedicated to financing circular economy and waste reduction solutions, with significant exposure to South and Southeast Asia textile and plastics supply chains. Comparable as a financial vehicle aligning institutional capital with circular-economy outcomes in textile-heavy emerging markets.
• Lenntech: Dutch design and manufacturing firm for innovative water treatment technologies and an active QStone partner. Closely comparable on the technical side as Lenntech supplies the core treatment technology QStone wraps with project finance, and both target industrial water reuse in textiles.
• Aqua Spark: Netherlands-based impact investment fund focused exclusively on the water sector, supporting water-related SMEs globally. Closely comparable as a financial vehicle deploying capital into water treatment, reuse, and infrastructure projects with both financial and impact returns.
• Trident Water Systems: Provider of advanced water treatment technologies with expertise in industrial and municipal applications. Already a QStone partner in the SMEP Bangladesh pilot, and a comparable supplier of ZLD/RO/UF systems to textile manufacturers in the same geographies.
• Aqua for All: Dutch-based impact fund and accelerator dedicated to safe water and sanitation investments in developing countries. Directly comparable to QStone as both channel institutional and donor capital into SDG6-aligned water projects in emerging markets, often partnering with DFIs and multilaterals.

Broad incumbents

• Solidaridad Network: International civil society organization promoting sustainable supply chains, including textile water management programs in Bangladesh. Comparable as an ecosystem actor — and current QStone partner — that helps finance and de-risk pilots of sustainable water solutions in textile value chains.
• Suez Water Technologies & Solutions: Global water technology and services company serving textile and other water-intensive industries with reuse and ZLD solutions. Comparable as a large incumbent with bundled technology, services, and project-finance capabilities addressing the same regulatory and water-stress drivers QStone targets.
• International Finance Corporation (IFC): World Bank Group private-sector development finance institution with a large water and sanitation investment portfolio. Comparable as a potential institutional capital source and counterparty for QStone's SDG6-aligned textile water projects in Bangladesh and India.
• Veolia Water Technologies: Global industrial water treatment major with extensive textile industry exposure and integrated treatment-plus-financing offerings. Comparable as a broad incumbent competing for the same industrial water reuse mandates that QStone targets in Bangladesh and India.

Market position

Strengths4 records

Weaknesses5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Qstone Capital B.v.