diff --git a/circle.yml b/circle.yml
index 6aff27301..4c7a4f5e1 100644
--- a/circle.yml
+++ b/circle.yml
@@ -154,7 +154,7 @@ defaults:
     run:
       name: "Test shared Hera (wavm)"
       command: |
-        export ASAN_OPTIONS=detect_leaks=0
+        export ASAN_OPTIONS=detect_leaks=1
         SO=$([ $(uname) = Darwin ] && echo dylib || echo so)
         if [[ $PRELOAD_ASAN ]]; then export LD_PRELOAD=/usr/lib/clang/8/lib/linux/libclang_rt.asan-x86_64.so; fi
         testeth --version
diff --git a/cmake/ProjectWAVM.cmake b/cmake/ProjectWAVM.cmake
index 66199895f..0d3319c84 100644
--- a/cmake/ProjectWAVM.cmake
+++ b/cmake/ProjectWAVM.cmake
@@ -11,16 +11,16 @@ llvm_map_components_to_libnames(llvm_libs support core passes mcjit native Debug
 
 set(prefix ${CMAKE_BINARY_DIR}/deps)
 set(source_dir ${prefix}/src/wavm)
-set(binary_dir ${prefix}/src/wavm-build)
-set(include_dir ${source_dir}/Include)
+set(binary_dir ${prefix}/lib/WAVM)
+set(include_dir ${prefix}/include)
 
-set(runtime_library ${binary_dir}/lib/${CMAKE_STATIC_LIBRARY_PREFIX}Runtime${CMAKE_STATIC_LIBRARY_SUFFIX})
-set(platform_library ${binary_dir}/lib/${CMAKE_STATIC_LIBRARY_PREFIX}Platform${CMAKE_STATIC_LIBRARY_SUFFIX})
-set(wasm_library ${binary_dir}/lib/${CMAKE_STATIC_LIBRARY_PREFIX}WASM${CMAKE_STATIC_LIBRARY_SUFFIX})
-set(ir_library ${binary_dir}/lib/${CMAKE_STATIC_LIBRARY_PREFIX}IR${CMAKE_STATIC_LIBRARY_SUFFIX})
-set(logging_library ${binary_dir}/lib/${CMAKE_STATIC_LIBRARY_PREFIX}Logging${CMAKE_STATIC_LIBRARY_SUFFIX})
-set(unwind_library ${binary_dir}/lib/${CMAKE_STATIC_LIBRARY_PREFIX}WAVMUnwind${CMAKE_STATIC_LIBRARY_SUFFIX})
-set(llvmjit_library ${binary_dir}/lib/${CMAKE_STATIC_LIBRARY_PREFIX}LLVMJIT${CMAKE_STATIC_LIBRARY_SUFFIX})
+set(runtime_library ${binary_dir}/Release/${CMAKE_STATIC_LIBRARY_PREFIX}Runtime${CMAKE_STATIC_LIBRARY_SUFFIX})
+set(platform_library ${binary_dir}/Release/${CMAKE_STATIC_LIBRARY_PREFIX}Platform${CMAKE_STATIC_LIBRARY_SUFFIX})
+set(wasm_library ${binary_dir}/Release/${CMAKE_STATIC_LIBRARY_PREFIX}WASM${CMAKE_STATIC_LIBRARY_SUFFIX})
+set(ir_library ${binary_dir}/Release/${CMAKE_STATIC_LIBRARY_PREFIX}IR${CMAKE_STATIC_LIBRARY_SUFFIX})
+set(logging_library ${binary_dir}/Release/${CMAKE_STATIC_LIBRARY_PREFIX}Logging${CMAKE_STATIC_LIBRARY_SUFFIX})
+set(unwind_library ${binary_dir}/${CMAKE_STATIC_LIBRARY_PREFIX}WAVMUnwind${CMAKE_STATIC_LIBRARY_SUFFIX})
+set(llvmjit_library ${binary_dir}/Release/${CMAKE_STATIC_LIBRARY_PREFIX}LLVMJIT${CMAKE_STATIC_LIBRARY_SUFFIX})
 
 set(other_libraries ${platform_library} ${wasm_library} ${ir_library} ${logging_library} ${unwind_library} ${llvmjit_library})
 
@@ -28,12 +28,12 @@ set(flags "-Wno-error -fvisibility=hidden")
 
 ExternalProject_Add(wavm
     PREFIX ${prefix}
-    DOWNLOAD_NAME wavm-a0baaec170b55cc60cfe6bcc6b36add953a065d8.tar.gz
+    DOWNLOAD_NAME wavm-c1d2ba945edcc9d87e9fc0044777ab1850a1c2a6.tar.gz
     DOWNLOAD_DIR ${prefix}/downloads
     SOURCE_DIR ${source_dir}
     BINARY_DIR ${binary_dir}
-    URL https://github.com/AndrewScheidecker/WAVM/archive/fa5434e03efbc2154ecf4aafede169da76a4da40.tar.gz
-    URL_HASH SHA256=1a380461ca6570b39d548dcedfacb3c105769d5d5957e85674253250f585c07d
+    URL https://github.com/WAVM/WAVM/archive/c1d2ba945edcc9d87e9fc0044777ab1850a1c2a6.tar.gz
+    URL_HASH SHA256=ff1ecb896e6bc5a4e0835ff5b7a490c46cb7032e03f8cbdb26803f3ab6e5db00
     PATCH_COMMAND sh ${CMAKE_CURRENT_LIST_DIR}/patch_wavm.sh
     CMAKE_ARGS
     -DCMAKE_CXX_COMPILER=${CMAKE_CXX_COMPILER}
@@ -44,7 +44,9 @@ ExternalProject_Add(wavm
     -DCMAKE_POSITION_INDEPENDENT_CODE=ON
     -DCMAKE_CXX_FLAGS=${flags}
     -DCMAKE_C_FLAGS=${flags}
-    INSTALL_COMMAND ""
+    -DWAVM_ENABLE_RUNTIME=ON
+    -DWAVM_ENABLE_STATIC_LINKING=ON
+    INSTALL_COMMAND cmake --build <BINARY_DIR> --config Release --target install
     BUILD_BYPRODUCTS ${runtime_library} ${other_libraries}
 )
 
diff --git a/cmake/patch_wavm.sh b/cmake/patch_wavm.sh
index 73a9f1652..9997c8ffb 100644
--- a/cmake/patch_wavm.sh
+++ b/cmake/patch_wavm.sh
@@ -1,4 +1,3 @@
 #!/bin/sh
 
-sed -iE 's/SHARED//' CMakeLists.txt
 sed -iE 's/-Werror//' CMakeLists.txt
diff --git a/src/wavm.cpp b/src/wavm.cpp
index 770548917..9ab266e4b 100644
--- a/src/wavm.cpp
+++ b/src/wavm.cpp
@@ -22,14 +22,21 @@
 
 #include "wavm.h"
 
-#define DLL_IMPORT // Needed by wavm on some platforms
-#include "Inline/Serialization.h"
-#include "IR/Module.h"
-#include "IR/Validate.h"
-#include "Runtime/Intrinsics.h"
-#include "Runtime/Linker.h"
-#include "Runtime/Runtime.h"
-#include "WASM/WASM.h"
+// Needed by wavm on some platforms
+#define IR_API
+#define RUNTIME_API
+#define LOGGING_API
+#define WASM_API
+#define PLATFORM_API
+#define DLL_IMPORT
+
+#include <WAVM/Inline/Serialization.h>
+#include <WAVM/IR/Module.h>
+#include <WAVM/IR/Validate.h>
+#include <WAVM/Runtime/Intrinsics.h>
+#include <WAVM/Runtime/Linker.h>
+#include <WAVM/Runtime/Runtime.h>
+#include <WAVM/WASM/WASM.h>
 
 #include "debugging.h"
 #include "eei.h"
@@ -39,6 +46,7 @@
 #pragma GCC diagnostic ignored "-Wunused-variable"
 
 using namespace std;
+using namespace WAVM;
 
 namespace hera {
 
@@ -54,7 +62,7 @@ class WavmEthereumInterface : public EthereumInterface {
     EthereumInterface(_context, _code, _msg, _result, _meterGas)
   {}
 
-  void setWasmMemory(Runtime::MemoryInstance* _wasmMemory) {
+  void setWasmMemory(Runtime::Memory* _wasmMemory) {
     m_wasmMemory = _wasmMemory;
   }
 
@@ -64,7 +72,7 @@ class WavmEthereumInterface : public EthereumInterface {
   void memorySet(size_t offset, uint8_t value) override { (Runtime::memoryArrayPtr<U8>(m_wasmMemory, offset, 1))[0] = value; }
   uint8_t memoryGet(size_t offset) override { return (Runtime::memoryArrayPtr<U8>(m_wasmMemory, offset, 1))[0]; }
 
-  Runtime::MemoryInstance* m_wasmMemory;
+  Runtime::Memory* m_wasmMemory;
 };
 
 unique_ptr<WasmEngine> WavmEngine::create()
@@ -252,7 +260,7 @@ namespace wavm_host_module {
     bool resolve(
       const string& moduleName,
       const string& exportName,
-      IR::ObjectType type,
+      IR::ExternType type,
       Runtime::Object*& outObject
     ) override
     {
@@ -288,12 +296,14 @@ ExecutionResult WavmEngine::execute(
     instantiationStarted();
     ExecutionResult result = internalExecute(context, code, state_code, msg, meterInterfaceGas);
     // And clean up mess left by this run.
-    Runtime::collectGarbage();
+    // TODO: enable this.
+    // Runtime::collectCompartmentGarbage(compartment);
     executionFinished();
     return result;
   } catch (exception const&) {
     // And clean up mess left by this run.
-    Runtime::collectGarbage();
+    // TODO: enable this.
+    // Runtime::collectCompartmentGarbage(compartment);
     // We only catch this exception here in order to clean up garbage..
     // TODO: hopefully WAVM is fixed so that this isn't needed
     throw;
@@ -353,8 +363,7 @@ ExecutionResult WavmEngine::internalExecute(
   ensureCondition(linkResult.success, ContractValidationFailure, "Couldn't link contract against host module.");
 
   // compile the module from IR to LLVM bitcode
-  Runtime::GCPointer<Runtime::Module> module = Runtime::compileModule(moduleIR);
-  heraAssert(module, "Couldn't compile IR to bitcode.");
+  Runtime::ModuleRef module = Runtime::compileModule(moduleIR);
 
   // instantiate contract module
   Runtime::GCPointer<Runtime::ModuleInstance> moduleInstance = Runtime::instantiateModule(compartment, module, move(linkResult.resolvedImports), "<ewasmcontract>");
@@ -372,7 +381,7 @@ ExecutionResult WavmEngine::internalExecute(
   wavm_host_module::interface.top()->setWasmMemory(memory);
 
   // invoke the main function
-  Runtime::GCPointer<Runtime::FunctionInstance> mainFunction = asFunctionNullable(Runtime::getInstanceExport(moduleInstance, "main"));
+  Runtime::GCPointer<Runtime::Function> mainFunction = asFunctionNullable(Runtime::getInstanceExport(moduleInstance, "main"));
   ensureCondition(mainFunction, ContractValidationFailure, "\"main\" not found");
 
   executionStarted();
diff --git a/src/wavm.h b/src/wavm.h
index 7295e3a87..259ddf056 100644
--- a/src/wavm.h
+++ b/src/wavm.h
@@ -19,9 +19,11 @@
 
 #include "eei.h"
 
+namespace WAVM {
 namespace IR {
 class Module;
 }
+}
 
 namespace hera {
 
@@ -49,7 +51,7 @@ class WavmEngine : public WasmEngine {
     bool meterInterfaceGas
   );
 
-  IR::Module parseModule(bytes_view code);
+  WAVM::IR::Module parseModule(bytes_view code);
 };
 
 } // namespace hera