The Fundamental Molecule

In 2015, all of the startup founders who were part of Imagine H2O's Accelerator had to bear with me as I had no idea what I was doing. One of those founders was Sivan Zamir. Four years later she was and remains the only person to go through the program twice, and mercifully, her feedback then was rather better. Now she's VP of Enterprise, Innovation and Venture at Xylem, Burnt Island Ventures’ anchor investor and a true partner. And Sivan has become a serious force in early stage water, taking on the enormous challenge of making a very large company very good at working with very small ones. She and her team not only set a new standard for corporate engagement with the startup community, we think they reinvented it. It has been fascinating to see how the ideas and principles of entrepreneurship are flowing into the wider Xylem organization as a result. She is a force of nature, an unyielding advocate for water and an astonishingly generous friend. Please enjoy my conversation with Sivan Zamir. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Sivan Zamir, VP of Enterprise Innovation and Venture at Xylem, shares her journey from two-time founder to corporate innovator. She discusses the systemic challenges large companies face when working with startups and her strategy to overcome them. Key topics include the criticality of team culture and "voice of customer," using agile sprints to drive change, and a unique "partnerships-first" corporate venture capital model. She also advocates for bringing enabling technologies from other industries into the water sector and advises all entrepreneurs to "be kind."00:00 - Introduction02:24 - Why Big Companies Struggle to Work With Startups05:53 - Breaking the Certification Roadblock for Pilots08:06 - Startup Lessons: Team Culture and Customer Feedback16:40 - First 90 Days: Research, Business Plan, and Execution20:32 - Running Sprints and Scaling Innovation Culture25:18 - Building Partnerships Before Launching Venture Capital29:49 - How the Accelerator Program Drives Go-To-Market35:25 - The State of Water Tech: Adjacent Innovation and Low Funding40:53 - Final Advice: Always Lead With KindnessLinks:Burnt Island Ventures: https://www.burntislandventures.com/Sivan Zamir: https://www.linkedin.com/in/sivan-sidney-zamir/Xylem: https://www.xylem.com/en-us/SM MaterialKey Takeaways:"Team culture is everything. You can teach skills, but you can't teach culture. It's the backbone of resilience and innovation.""Voice of the customer is critical. Without it, you're building on a hypothesis without market validation.""In large companies, innovation must be baked into governance, metrics, and incentives.""The water sector needs to look beyond itself. Adopt existing tech from other industries.""Accelerators simplify complex processes. They coordinate efforts and focus on clear...

Out of 910 graduating students in the Class of 2014 from HBS, three went into water. Of those three, only Peter Brooks and I remain. And, meaning no offense to all our wonderful classmates, I'm glad it's him. Peter is just a really great guy. A former Marine, he worked across a variety of fascinating opportunities before setting up Sylmar Group. He and his partner Michael have been hard at work creating a compounding machine in water, building with an infinite holding period. And, as you will hear, it has developed exceptionally in the six years since it was founded. I have been looking forward to this for a long time because there are few people as thoughtful, practical, wise, self-effacing and talented as Peter. I was also amazed to find out that this is the first time he has talked about the Sylmar story on a podcast. So you're literally hearing it here first. Please enjoy my conversation with Peter Brooks.Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Peter Brooks details Sylmar's "compounding machine" strategy, advocating for patient, long-term investment, cultural integration, and network effects to create value. He explains their entrepreneurship-through-acquisition model, targeting small, high-quality water businesses, and emphasizes operational enhancements while preserving an entrepreneurial spirit. Peter shares insights on managing growth, recruiting talent, and his military-informed leadership. He also addresses the future water market, noting AI's increasing demand and the critical role of infrastructure, and urges entrepreneurs to pursue their "true north" for societal benefit.00:00 - Peter Brooks & the “Compounding Machine”02:30 - Equity, Culture & Network Effects06:03 - Partnering with Mission-Critical Small Operators11:27 - Listen, Prioritize, Fix Systems17:02 - Operating System That Scales21:24 - Disciplined Growth & Smart Capital Allocation26:35 - Make Water a Talent Magnet34:46 - Sales as Market Discovery43:21 - AI Data Centers & Water50:49 - Tech That Matters Now1:01:27 - True North LeadershipLinks:Burnt Island Ventures: https://www.burntislandventures.com/Peter Brooks: https://www.linkedin.com/in/peterharringtonbrooks/Sylmar: https://sylmargrp.com/SM MaterialKey Takeaways:"Compounding is the consistent accumulation of small advantages that allow us to win.""In water, patience is rewarded. Quick-turn investors often misunderstand this.""We're building a compounding machine with long-term patient capital.""Plans are nothing, but planning is everything. No plan survives first contact with reality.""Water is the third pillar of public safety, critical behind fire and police.""Embrace uncertainty. Entrepreneurship isn't for the faint of heart."“Roughly every 5 million of EBITDA, you're going to have a different job description if you continue to...

It's always worth listening to someone's ‘why’ for doing something. What is their core motivation? Are they a tourist, or are they here for the long haul? When you combine a compelling ‘why’ with the right mix of technical brilliance, charisma, kindness, and energy, you get someone who looks and sounds a lot like Allan Adams. He is the founder and CEO of Aquatic Labs, who have made amazing strides in bringing lab chemistry into real time, eradicating one of the core monitoring problems that is profoundly bad in both water operations and ocean science. This is also the only conversation where the guest's idea of a misspent youth is teaching particle physics at MIT. He is genuinely amazing. Please enjoy my conversation with Allan Adams.Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Allan Adams joins Tom today to discuss how witnessing dying coral reefs after the birth of his son inspired him to leave physics and found Aquatic Labs. He critiques the inefficiency of slow, lab-based water analysis and details his mission to create real-time, scalable sensors. By first optimizing industrial processes, Aquatic Labs aims to commoditize its technology, making it affordable for vital future applications like verifying ocean carbon sequestration and tracking the true impact of climate change on our most fundamental resource.00:00 - Introduction to Water Innovation and Entrepreneurship00:49 - Allan Adams’ Journey from Physics to Ocean Science02:29 - Fiji Expedition and Life-Changing Career Shift05:25 - Passing Ocean Stewardship to the Next Generation07:29 - Global Climate and Human Impacts on Oceans11:12 - Founding Aquatic Labs to Scale Real-Time Ocean Sensors15:43 - Industrial Use Cases and Aligning Profit with Conservation19:42 - Lessons from Academia and Startup Realities22:50 - Breaking Lab Bottlenecks with Real-Time Water Sensing26:43 - Commercialization Journey and Market Pivot Post-Election32:05 - Hard Lessons in Sales and Building a Mission-Driven Team37:41 - The Big Vision: Aquatic Labs’ Role in Water and Carbon Markets43:29 - Allan’s Advice for Water EntrepreneursLinks:Burnt Island Ventures: https://www.burntislandventures.com/Allan Adams: https://www.linkedin.com/in/allan-adams/

The saying, "Those who tell the stories rule the world," is such a core truth that it is both a quote from Plato and a Native American proverb - two entirely distinct societies coming to the same conclusion. We in water know that our inability to tell our story is one of the most frustrating aspects of the sector and one of, if not the most, negatively impactful. So what happens when you put water's story in the hands of two of the best storytellers and creators on the planet? Matt Fitzgerald is the campaign architect of #TEAMWATER, which, after #TEAMTREES and #TEAMSEAS, is the third major campaign from MrBeast, the world's largest YouTuber, and Mark Rober, the world's most prominent science YouTuber. #TEAMWATER's aim is to mobilize $40 million in one month in order to provide two million people with clean, safe, reliable drinking water for decades. It is one seriously entrepreneurial undertaking, and Matt is a remarkable guy. We thought it would be fascinating to sit down with him and find out how he thinks about pulling off something this audacious, and we were right - it was. Please enjoy my conversation with Matt Fitzgerald.Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Campaign architect Matt Fitzgerald discusses the strategy behind #TEAMWATER, the $40M clean water initiative with creators MrBeast and Mark Rober. He shares his philosophy on building successful movements like #TEAMTREES and #TEAMSEAS, focusing on harnessing the "attention economy." Fitzgerald explains the importance of simple, emotionally resonant narratives that make complex issues universal and inspire mass participation, turning viewers into heroes and creating tangible change.00:00 - Power of Storytelling in the Water Sector02:28 - What Makes an Effective Campaign05:39 - Building Narratives That Inspire Participation08:12 - Inside the #TEAMWATER Mission and Impact11:05 - Leveraging Massive Creator Reach for Change13:29 - Lessons from #TEAMTREES and #TEAMSEAS20:44 - Competing in the Attention Economy25:25 - Messaging Strategies That Resonate28:57 - Balancing Grassroots and Grasstops Influence36:17 - Matt Fitzgerald’s Career and Campaign Insights42:12 - Using Emotion to Drive Action43:20 - Shaping Philanthropy for Water’s Future47:20 - Call to Action for #TEAMWATER Support at https://teamwater.org/49:18 - Matt’s advice for water entrepreneursLinks:Burnt Island Ventures: https://www.burntislandventures.com/Matt Fitzgerald: https://www.linkedin.com/in/mattfitzgerald/Contribute to #TEAMWATER: https://teamwater.org/SM MaterialKey Takeaways:"Water is where climate and people meet. You either have too much of it or too little.""The best campaigns build relationships, activate them, and provide a next step… a cycle of engagement.""#TEAMWATER is a $40 million crowdfunding...

Some people are born to drive their own bus. They have an idiosyncrasy of outlook that makes building their own thing inevitable. When these people run into a problem that they find both annoying and ridiculous and decide to solve it, good things happen. Mick O'Dwyer is one of those people. Even before BIV started, the second check I ever wrote, and first real one, was into his company, SwiftComply, and for good reason. He is a very serious entrepreneur in its most core sense. He's a taker of opportunities with, as you will hear, a clear attitude to risk, who delights in the wrestle of getting the thing done. As anyone who has met or shared a karaoke room with him will attest, he's also a great person to spend time with. The man could sell, and indeed has sold, Guinness to the Irish. Please enjoy my conversation with the excellent Mick O'Dwyer.Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Mick O'Dwyer shares his evolution from a young, ambitious engineer at Guinness to a water entrepreneur. He recounts his time at Dublin City Council, where the "ridiculous" and inefficient paper-based system for managing fats, oils, and grease in wastewater sparked the idea for his company. Mick details his journey of building SwiftComply, from developing the initial solution to moving to the U.S., making a high-stakes acquisition, and scaling the business.00:00 - From Guinness Factory to Government Engineer08:29 - Discovering the Wastewater Compliance Problem12:38 - Building the First Version of SwiftComply16:58 - Turning a Consulting Gig Into a Tech Company20:32 - Going Global After a U.S. Conference Breakthrough22:43 - Why Moving to Silicon Valley Was a Game-Changer30:43 - Using AI to Improve Utility Compliance and Efficiency33:31 - Rebuilding Product Velocity After Acquisition Challenges41:28 - Scaling SwiftComply With Growth Investment46:43 - Advice to Founders: Bet on “Mandated, Recurring, Painful” ProblemsLinks:Burnt Island Ventures: https://www.burntislandventures.com/Mick O'Dwyer: https://www.linkedin.com/in/odwyermichael/SwiftComply: https://www.swiftcomply.com/SM MaterialKey Takeaways:"I had this compelling thing that the world needed a solution for the problem. What I will say is I wasn't really built to be a passenger.""The bus was leaving the station and had no driver, and I was like, well, I'm going to be the one to drive that bus.""I was young and opinionated and bullish. You could say I'm now old and opinionated and bullish.""I fell in love with wastewater treatment. I fell in love with the people in the plant, actually. Like, they're just like, you know, these men who are 40 years older than me.""I was just using practical experience to solve the problem at hand.”"I had to extract myself from that and had the trauma of giving up things. You don't need to see the company to be the one running...

Pierre Côté is arguably the most successful inventor and technologist in the industrial wastewater space. He has two ubiquitous technologies under his belt - the hollow fiber membrane and the membrane bioreactor, or MBR - and a third technology well on the way to becoming ubiquitous: the membrane aerated biofilm reactor, or MABR. Pierre is not only brilliant and a wonderful person, he is totally focused on finding practical solutions to persistent problems that are affordable and implementable. Pierre is now at it again with a new technology for dealing with nutrient pollution via an inexpensive algae biofilm process being brought to life through AlgaFilm, our 7th investment in our Second Fund. He is a profoundly thoughtful, modest, and wise man, and his advice for technical founders is particularly on point. Please enjoy my conversation with the great Pierre Côté. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Inventor Pierre Côté discusses the iterative process of invention, stressing that ideas arise from real-world problems and pressure. He details the origin of his latest venture, AlgaFilm, which evolved from failed prototypes into a novel biofilm system, and advises technical founders to focus on solving a customer's whole problem rather than just their specific technology. For success, he says entrepreneurs must build strong, diverse teams, find a market "wave" (like new regulations) to ride, and have a bit of luck on their side. 00:00 - How Inventors Solve Real-World Water Challenges02:34 - Why Innovation Requires Pressure, Curiosity, and Iteration05:12 - Cross-Disciplinary Thinking and Customer-Driven Design08:09 - The Origin Story Behind AlgaFilm’s Algae Biofilm System10:32 - How the Algae Forest Reinvents Nutrient Removal14:18 - Lessons from Past Water Tech Failures and Breakthroughs18:10 - Navigating Startup Constraints vs. Corporate Innovation21:31 - Commercializing Water Tech with a Whole-Solution Mindset25:16 - Why Cost Modeling and Competitive Awareness Matter28:43 - Staying in Water: Motivation, Mentors, and Market Realities32:15 - Future Trends: Climate Resilience, AI, and Smarter Infrastructure35:01 - Final Advice: Build the Right Team and Catch the Right Wave Links: Burnt Island Ventures: https://www.burntislandventures.com/ AlgaFilm: https://algafilm.com/ Pierre Côté: https://www.linkedin.com/in/pierre-c%C3%B4t%C3%A9-5291a226/ SM Material Key Takeaways: "Ideas don't come in a vacuum. You need to be exposed to problems. Start by looking for problems." "Inventions come to fruition through iterations. Risk-taking and mistakes are part of the process." "Introverts live in their heads, thinking about problems more than extroverts. Curiosity is key." "Algae can do interesting things, but existing processes are either too large or complex and expensive." "Focus on building a strong team. Include expertise outside your field for diverse solutions." "Express objectives as goals, not means. Focus on solving problems, not just creating products." "Limited funding in startups forces focus on pain points. It's a positive constraint." "Find early adopters excited about new technology. Treat them...

At BIV, we have huge admiration for people who call their shot and are right. For all you hockey fans out there, it's people who ‘Gretzky’ to where the market is going to be and so are there when it arrives. Oliver Lawal is a fascinating entrepreneur. He saw something obvious - his words - and just went and built the thing and has made so many smart moves along the way. He's a truly thoughtful person, and there is a lot in this conversation for fellow entrepreneurs - from what ‘focus on the customer’ really looks like to how to build a team that never wants to do anything else. He also uses a phrase which has now entered the BIV lexicon: “There's a big difference between what I think is cool and what is actually helpful.” Never a truer word. It almost makes me forgive him for being a Spurs fan. Please enjoy my conversation with the excellent Oliver Lawal, CEO of AquiSense. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Oliver Lawal discusses UV water treatment, detailing its history and AquiSense's UV-C LED innovation (analog to digital shift). He explains entrepreneurial strategies like controlling the LED supply chain by becoming a key customer and enabling customer validation with affordable lab units. Oliver emphasizes solving real problems ("cool vs. helpful") and building a strong team culture focused on shared vision, respect, and practical problem-solving rather than blame. 00:00 - Why Water Innovation Needs Entrepreneurs   02:52 - How UV Disinfection Works and Its Origins   04:42 - Why UV Beats Chemical Treatment in Water   06:57 - Transitioning UV from Mercury Lamps to LEDs   10:47 - Spotting Market Shifts and Acting Early   13:44 - Building Trust Through Scalable UV Tech   18:44 - From Petri Dishes to Multimillion-Dollar Utility Deals   23:03 - Building What’s Helpful vs. What’s “Cool”   27:06 - How Strong Co-Founder Dynamics Shape Success   31:06 - Designing a High-Performance Technical Culture   35:31 - Balancing Startup Leadership with Real Life   39:43 - Final Advice: Solve Real, Not Just Interesting, Problems Links: Burnt Island Ventures: https://www.burntislandventures.com/ Oliver Lawal: https://www.linkedin.com/in/oliver-lawal-6877ab9/ AquiSense: https://aquisense.com/ SM Material Key Takeaways: "Solve a real problem. The operative word is ‘real’. Be honest about it." "There's a big difference between what I think is cool and what is actually helpful." "We have to control the supply chain. I want the best pricing and newest products." "Being honest is crucial. Focus on solving the problem, not apportioning blame." "How do you come in with a new technology and have a customer sign a $2 million contract?" "I don't need to be excellent at everything. I need the ability to step away." "Balance is key. America is positive, but sometimes lacks nuance." "I have high expectations. I can be tough, but I'm focused on problem-solving." "Variety is important. I play instruments averagely, but it's about stepping away." "Listening to direct feedback is vital. You can't solve real problems...

There is so much that is dumb in water, but easily one of the dumbest is that in the US - let alone the rest of the world - 60 percent of meters are offline and need to be read by hand in 2025. It is an insane state of affairs, and we have had our eyes out for teams to solve it for literally years. Anne Mushow is the driving force behind the solution to this problem at Subeca. Taking over from the exceptional Patrick Keaney, she is a superb leader: practical, experienced, thoughtful, and so determined to banish the schleppiest of schlep work that is meter reading to the past. She spent a lot of time in this market, both in water at Sensus and Xylem, as well as experiencing hypergrowth at Amazon. Please enjoy my conversation with Anne Mushow. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Anne Mushow highlights the slow adoption of advanced metering infrastructure (AMI) in the water utility sector, attributing it to factors like risk aversion and capital intensity. She emphasizes the importance of data-driven decision-making and customer-centricity, sharing insights from her experiences at Sensus, Xylem, and Amazon. Anne also delves into Subeca's innovative approach, focusing on low-barrier adoption and leveraging technologies like Amazon Sidewalk to empower utilities with efficient and cost-effective solutions. 00:00 - Why Most Water Meters Still Require Manual Reads   02:43 - The Real Barriers to AMI Adoption in Utilities   08:41 - How Cloud and Managed Services Are Changing Water Tech   11:01 - Subeca’s Low-Friction Approach to Smart Metering   16:04 - Eliminating Manual Labor with Plug-and-Play Devices   20:15 - Building a Strong ROI Case Without Infrastructure Costs   24:05 - How to Successfully Sell Into Utility Markets   31:52 - Applying Amazon’s Culture to Water Tech Innovation   36:17 - The Future of Water Data as a Service   39:55 - Leadership Lessons from Stepping Into the CEO Role   45:50 - Anne’s advice for current and future water entrepreneurs Links: Burnt Island Ventures: https://www.burntislandventures.com/ Anne Mushow: https://www.linkedin.com/in/anne-mushow-3108a65b/ Subeca: https://www.subeca.com/ SM Material Key Takeaways: "Water utilities are buyers, not builders. They need solutions, not just data." "In the US, 60% of meters are offline and need manual reading in 2025. It's an insane state of affairs." "Utilities are risk-averse. They need to see proof of concept before making big investments." "Amazon Sidewalk's connectivity in challenging terrains is astonishing. It works where others fail." "Focus on solving real customer problems. Product-market fit will follow." "The market for water utilities is diverse. Tailor your approach to their unique needs." "Documentation and working backwards are key. They transform ideas into actionable plans." "Survive and advance. Find what's working and ride it to bring in revenue for innovation." "The sky's the limit for networks. Managed services will drive utility transformation." "Gut is the instant amalgamation of all your experience. Trust it, but verify...

Flooding is becoming an increasingly obvious mega issue in the world today. It costs anywhere between $200 billion and $500 billion in the US alone each year. They're 31% of natural catastrophes and 1.8 billion people, about a quarter of the planet, live under flood risk. This is a nightmare for insurers who are raising their premiums in response, 17% last year in the US alone. But what if you could change the cost structure of this issue - where possible, allow homes and businesses enough lead time to take high value items out of harm's way, take the cars off the parking lot of the dealership and the goods off the warehouse floor? This can transform the insurance economics around flooding and is exactly what Previsico is doing.  Jonathan Jackson is an exceptional entrepreneur now on his fourth company, and it was a pleasure to have him on The Fundamental Molecule to hear what he's building at Previsico and how he's building it. Please enjoy my conversation with Jonathan Jackson. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Jonathan Jackson describes the growing challenges for insurers due to unpredictable floods, and how his company, Previsico, addresses this with precise, actionable flood warnings that utilize advanced forecasts and ground sensors. This enables businesses to mitigate up to 70% of flood damage and transform the economics of insurance. He discusses Previsico's origins as a UK university spin-out, its customer-driven US market entry, the significance of a clear ROI, and core company values such as fairness and purpose. Jonathan finishes by advising entrepreneurs to focus on their specific area of expertise. 00:00 - Why Flooding Is a Massive Insurance Crisis 01:59 - How Insurers Struggle to Price Flood Risk 07:04 - Key Differences in UK vs US Flood Insurance 08:47 - Why Businesses Are Forced to Self-Insure Flood Loss 09:58 - Provisico’s Approach to Preventing 70% of Flood Damage 11:14 - How Forecasts and Sensors Enable Real-Time Response 14:52 - The ROI of Ground-Truthing Flood Data 16:24 - How a Government Grant Sparked Provisico’s Founding 21:10 - Breaking Into Insurance Through Public-Private Partnerships 24:18 - Cracking the Insurance Market with Lloyd’s Lab and Zurich 25:40 - How to Sell to Risk-Averse, Slow-Moving Enterprises 29:12 - Expanding to the U.S. Through Customer Pull, Not Push 31:11 - Building Culture Around Fairness, Purpose, and Creativity 37:18 - Why Water Entrepreneurs Must Stay Laser-Focused Links: Burnt Island Ventures: https://www.burntislandventures.com/ https://previsico.com/ https://www.linkedin.com/in/jonathan-jackson-a393102/ SM Material Key Takeaways: "Flood risk maps estimate property location risk. Insurers use them to determine underwriting." "A 1% flood risk every year means you could be flooded year after year. It's about communication." "Provisico's service, with a good flood plan, can achieve 70% commercial loss prevention." "We enable insurers to mitigate losses, improving their profitability through accurate flood warnings." "Our flood forecast prepares organizations for flood, while sensors provide high-confidence alerts."...

One of the reasons why working in water is fun is the people who work in it - dedicated, driven, modest, self-effacing, hard working, but with a lightness that comes from doing something that really matters. Craig Beckman personifies these qualities and then some, and he also happens to be working on a generational - and I really do mean that it's once in a generation if the past is anything to go by - generational shift in the design of the spiral wound membrane module. Well, we'll go into it in the episode, but think of it as the basic building block, the workhorse of water treatment, a $4.6 billion a year market growing at 11%. Craig and his team have the opportunity to make something we all rely on, whether we know it or not, fundamentally better. It's such an exciting story from inception to development to their enormous production space they just moved into. But more than anything, Craig is a wonderful person to spend time with. Please enjoy my conversation with Craig Beckman. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Craig Beckman shares lessons learned from GE Water and MIOX on customer needs and small company agility here today. He describes how his current venture, Aqua Membranes, revolutionizes membrane elements by replacing inefficient mesh spacers with optimized, 3D-printed structures - an innovation that targets reduced fouling and energy use, especially in industrial reuse. Discussing focused go-to-market strategies, overcoming technical challenges, and scaling production to build confidence, Craig emphasizes membrane technology's crucial role in future water security and advises persistence for water entrepreneurs. 00:00 - Building the Future of Water Through Innovation 01:59 - Lessons from Big Company Sales and GE Water Rollups 05:10 - Why Big Companies Miss Mid-Market Water Opportunities 09:18 - Balancing Recurring Revenue with Customer Needs 13:31 - Why Traditional Membrane Spacers Fail in Water Treatment 17:24 - Redesigning Membranes for High-Reuse Industrial Wastewater 21:54 - Solving Customer Pain with Elegant Membrane Engineering 27:44 - Overcoming Doubt and Manufacturing Complexity in Water Tech 31:05 - Go-to-Market Strategy for Industrial Water Startups 35:10 - Building Case Studies to Accelerate Market Adoption 39:04 - Scaling Manufacturing to Gain Customer Trust 42:19 - The Future of Membranes in Global Water Scarcity Solutions 45:04 - The #1 Advice for Water Entrepreneurs Links: Burnt Island Ventures: https://www.burntislandventures.com/ Craig Beckman: https://www.linkedin.com/in/craig-beckman-ceo/ Aqua Membranes: https://aquamembranes.com/ SM Material Key Takeaways: "Just because everyone has wastewater doesn't mean it's a good commercial opportunity." "The membrane market is poised for growth. It's a critical need for food and water security." "Persistence is key in water entrepreneurship. Be patient. Water's impact grows over time." "In water treatment, solving problems for customers is about aligning with their needs, not just trends." "Cash flow is crucial in startups. It's a lesson learned...

It's no secret that the so-called "hyperscalers"—Amazon, Microsoft, Google, Meta, and others—are doing their hyperscaling in the context of the AI revolution. The pace of digital infrastructure buildout is mind-boggling—about $450 billion in 2024 and with no sign of slowing. All of this has implications for the water sector. So I wanted to talk to someone who is a) in the thick of this, and b) has been part of a hyperscaler's water work for some time. Will Hewes is a superb guy, a proper water veteran all the way from his undergrad work, and he took his considerable expertise in infrastructure into running water resources first at AWS, and now across all of Amazon. They have been at the forefront of basin-wide sustainability efforts, and it was so energizing to hear how an "intrapreneur" builds inside a company like Amazon, all the way down to how these individual projects get done. Please enjoy my conversation with Will Hewes.  Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-molecule For the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205 ----------- Will Hewes discusses his role in overseeing Amazon's water replenishment, detailing their "Water Positive" strategy which aims to return more water to communities than Amazon uses, particularly in AWS data centers which employ water for energy-efficient cooling. Hewes details the two-pronged approach: internal efficiency improvements (ex. direct evaporative cooling design reducing L/kWh, real-time monitoring, using recycled water), and external replenishment projects. These projects, chosen for local impact and verified credibility, address needs like WASH access or agricultural irrigation efficiency, often catalysing tech adoption. 00:00 - How AI and Data Centers Are Reshaping Water Demand 03:40 - Amazon’s Water Positive Strategy Explained 05:00 - Sustainable Cooling in Data Centers with Water Efficiency 08:45 - Shifting from Potable to Recycled Water Sources 11:49 - How Amazon Builds Global Water Replenishment Projects 13:55 - Partnering with Startups to Scale Smart Irrigation 18:24 - Measuring Impact and Verifying Replenishment Claims 21:55 - The Reality of Corporate Water Risk Assessment 24:45 - Why Hyperscalers Collaborate on Water Stewardship 27:33 - Balancing Growth with High-Quality Sustainability Practices 30:33 - Lessons from Will Hewes’ Career in Water Infrastructure 34:44 - Why Scalable, Fast-Adopting Water Tech Wins 43:21 - Advice for Water Entrepreneurs Links: Burnt Island Ventures: https://www.burntislandventures.com/ Will Hewes: https://www.linkedin.com/in/will-hewes-61947232/ SM Material Key Takeaways: "Water is the most fundamental resource. It's about public health, urban planning, and managing wild spaces." "Water is key to cooling strategies in data centers. It reduces energy use and meets sustainability goals." "Our Water Positive program commits to returning more water to communities than we use." "Efficiency and recycled water are cornerstones of our water sustainability strategy." "Water replenishment projects must respond to local watershed challenges." "Technology can unlock water security and reduce carbon associated with water treatment." "Collaborate with partners to...

It's so fun when you feel like an investment has been dragged out of your hands. At the end of our deployment of our first fund, I was adamant that our final investments had to be blindingly obvious because the next best use of funds was to give more capital to companies we already knew were amazing. So when I met Shane Dyer, CEO of Irrigreen, the quality could not have been more obvious. Here was a multitime founder operating at a seriously high level, building around a product that was an absurdly large improvement on the status quo and which had the potential to save billions of gallons of water. It's been such a pleasure to watch him work, and it was deeply exciting to invest in them again as the third position in our Opportunity Fund. Please enjoy my conversation with Shane Dyer.Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Irrigreen’s CEO Shane Dyer discusses tackling overlooked water tech challenges by applying his IoT and growth marketing expertise from outside the sector. He details Irrigreen's genesis, adapting inkjet tech for precise, water-saving irrigation. Dyer shares critical startup lessons: the power of listening to customers for product & marketing direction, strategic hiring focusing on grit over resumes, rigorous iteration & verification for deep tech, effective board management, and keeping the customer the ultimate North Star.00:00 - Why Water Tech Is the Climate Opportunity Hiding in Plain Sight02:34 - Bringing IoT and Startup Experience into Water Innovation04:11 - Growth Marketing Tactics for Climate Tech Startups07:52 - Building High-Impact Startup Teams09:25 - From Inkjet Printers to Smart Sprinklers12:43 - Designing Products That Customers Actually Want17:21 - Reinventing Irrigation Through Digital Precision21:36 - Balancing Consumer Appeal with Contractor Adoption25:33 - Simplifying Supply Chains27:53 - How to Get Real Value from Your Startup Board32:46 - Running Data-Driven Growth Experiments That Work35:45 - Scaling Hardware Quickly38:12 - Hiring as the Ultimate Startup Superpower40:34 - Shane Dyer’s #1 Advice for Water EntrepreneursLinks:Burnt Island Ventures Shane Dyer Irrigreen Sean Ellis Steve Blank The Startup Owner's Manual Nail It Then Scale It Getting to Plan B The Lean Startup SM MaterialKey Takeaways:"Experience is when the hairs on your neck rise during design review, sensing a potential landmine ahead.""Startups are not little big companies. They're a completely different experience requiring ambition, talent, and grit.""Growth marketing requires high-velocity experimentation and qualitative insights to drive hypotheses.""A board is a team. Keep them...

When you hear a canary singing in the coal mine, you should stop and listen. Without torturing the metaphor too far, this is how I felt when I started working with Megan Glover at 120Water in 2017 as she started to build her business. The success of a business is predicated on the talent of the people running it, and Megan was important because she was one of the first brilliant CEOs who was truly new to water. She is at the vanguard of exceptionally smart, driven company leaders who appeared at the end of the 2010s and were the predicate essentially of BIV coming into being. We don't get to do our job without enough people as good as Megan. I love this conversation covering everything from strategic marketing to advice to board members. Please enjoy my conversation with my friend Megan Glover.Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Megan Glover, Co-founder and CEO at 120Water, joins Tom to discuss the role of strategic marketing in her organization’s trajectory, emphasizing market analysis, customer understanding, and the importance of a quantitative approach. Together, they delve into the genesis of 120Water, its pivot from a consumer focus to serving municipalities, and the significance of regulatory drivers like the lead and copper rule. Megan reflects on talent in the water sector, the evolution of her role as CEO, and offers advice to founders regarding risk-taking in particular.00:00 - Why Talent Defines Startup Success02:52 - The Role of Strategic Marketing in Water Tech05:17 - Market Research: Understanding Customers Before You Build07:19 - The Origin Story of 120Water09:36 - The Business Pivot: From Consumer to Municipal Focus12:07 - How Water Regulations Create Business Opportunities14:17 - The Future of Lead, PFAS, and Emerging Contaminant Rules16:50 - State vs. Federal Water Regulations19:46 - Consumer Awareness vs. Action in Water Quality20:56 - The Evolution of Lab Testing & Data Standardization22:49 - The CEO Journey24:10 - Navigating Board Relations & Investor Alignment27:08 - Attracting & Retaining Talent in the Water Industry29:17 - The Future Vision for 120Water30:42 - Managing Cash Flow While Scaling in a Slow-Moving Market32:10 - The Role of Partnerships33:20 - The Art of Negotiation for Water Entrepreneurs35:13 - The #1 Advice for Water EntrepreneursLinks:Burnt Island Ventures: https://www.burntislandventures.com/Megan Glover: https://www.linkedin.com/in/megancglover/120Water: https://120water.com/SM MaterialKey Takeaways:"The success of a business is predicated on the talent of the people running it.""Before you can create, know who the creative is for.""Regulatory demand is the number one driver for change in the water industry.""Take the risk. The water industry is here to support you and wrap their arms around you.""Partnerships can be a phenomenal tool. Win fast and fail fast.""Manage your cash. Sales cycles in water take twice as long as in other startups.""Every stage requires...

Sometimes things just strike you as dumb and then one day you understand why. The current model of desalination is a great example. It's something that everyone thinks that we at BIV should be invested in up to the eyeballs, and, of course, we support technologies that are pertinent to desal, but the legacy model is just a tough nut to crack. Ever more scaled plants to minimize the per gallon cost of purified water is the name of the game. So when I met Alex Fugelsang and the full Flocean team, it was like a light bulb going off. Legacy desal was dumb for the simple reason you were pumping up onto land a whole load of water, putting all of it through a giant factory, having designed it for all of that water, then throwing at least 40% of it back into the ocean. So what if you could desalinate under the surface of the sea and get rid of all that excess capacity? You don't run into paradigm shifts all the time, but we think that Flocean is one of them. Alex is a superb guy with a fascinating skill set, having spent most of his life operating machinery at inhospitable depths, and he's on a remarkable mission to put a huge dent in global water insecurity. Please enjoy my conversation with Alex Fugelsang. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------In today’s episode, Alex Fuglesang details Flocean's underwater desalination: less energy and less environmental impact thanks to stable deep-sea conditions. He reveals how robotics ensure reliable maintenance in their water-as-a-service model, and highlights building trust with communities, providing tailored solutions for water scarcity. Alex also shares insights on his background, leadership, and the future of desalination.00:00 - Why Legacy Desalination Is Failing02:16 - Operating and Engineering in Harsh Deep Sea Conditions  05:30 - Robotics and Automation in Underwater Water Tech  06:32 - Flocean's Origin Story  10:35 - How Flocean Cuts Energy Use and Environmental Impact  13:22 - Simplifying Permitting for Subsea Desalination  15:16 - Real-World Water Scarcity Challenges in Island Nations  17:24 - Growing Industrial Demand for Onsite Desalination  19:52 - New Business Models for Water Delivery  22:56 - What Infrastructure Investors Want from Water Tech  24:09 - Building a World-Class Water Tech Team  26:53 - Targeting High-Impact Coastal Markets  28:38 - Strategic Marketing for Deep Tech Startups  29:57 - Military Leadership Lessons in Startup Life  34:17 - The Future of Desal37:43 - Cutting Red Tape in Water Infrastructure Projects  39:17 - Top Advice for Climate Hardware Entrepreneurs  Links:Burnt Island Ventures: https://www.burntislandventures.com/Alex Fuglesang: https://www.linkedin.com/in/alexanderfuglesang/?originalSubdomain=noFlocean: https://www.flocean.green/SM MaterialKey Takeaways:"In water-scarce regions, the frustration is real. Limited budgets lead to expensive maintenance and weeks of downtime."“Cutting bureaucracy and aligning stakeholders can unleash new technologies."“Flocean uses natural deep-sea...

Felicia Marcus is one of the most significant public servants in water, having served on the Board of Public Works for the City of LA, served as Regional Administrator for the EPA in Region 9, COO of the Trust for Public Land and Western Director of the NRDC. As if that wasn't enough, she was also the Chair of the State Water Resources Control Board of California during the business end of the 2011-2017 California drought, which was rather scary and is now taking a “breather” as a Fellow at Stanford's “Water in the West Program”. Felicia is delightful, the speed of her mind matched only by the quality of her communication. We're so lucky to have such extraordinarily dedicated people who choose service when they could be doing a lot of different things, and the water sector is so much better off for it. Please enjoy my conversation with the excellent Felicia Marcus. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Felicia Marcus, a powerhouse in water policy, joins Tom today to discuss California's drought response, elevating water's importance, and the role of communication in public service. Felicia shares insights from her career, including her time as Chair of the State Water Resources Control Board and at the EPA, highlights the need for more support for water technology innovation, and expresses concerns about the current state of the EPA. Geopolitics of water and AI's implications are discussed, and Felicia offers her invaluable advice for water entrepreneurs.00:00 - Meet Felicia Marcus02:06 - Why Water Needs a Bigger Spotlight03:16 - The Hidden Complexity of Water Infrastructure06:15 - Why Water Lags Behind Energy in Investment and Innovation07:16 - California’s Water Crisis10:02 - Lessons from Droughts12:58 - A Career in Water Policy16:26 - The Future of LA’s Water and Infrastructure Challenges20:47 - How Politics Shapes Water Policy Decisions22:09 - Lessons from Managing California’s Drought25:04 - Balancing Environmental Protection and Water Use26:47 - Why Water Tech Innovation Lags Behind Energy27:07 - The Operator vs. The Visionary31:13 - The Power of Communication in Water Policy36:53 - Stanford Water in the West Program40:15 - The Role of AI in Water Management42:52 - Water and Global Geopolitics45:36 - Cybersecurity Risks in the Water Sector45:58 - Advice for Water EntrepreneursLinks:Burnt Island Ventures: https://www.burntislandventures.com/Felicia Marcus: https://www.linkedin.com/in/feliciamarcus/SM MaterialKey Takeaways:"Water is a necessity for life and economic development. It's amazing how it's just assumed and taken for granted.""Energy is appreciated because people notice when the lights go out. Water is less understood, less appreciated.""California's drought taught us a lot. The public saved nearly 25% when asked. Education was key.""The disparity in funding between water and energy is a self-inflicted wound in California.""I like helping people move. You can't just say, “Do it.” You have to help them see another way.""Know your audience beyond who you want to...

I owe what I get to do every day here in a job I love to many people, but Scott Bryan really helped. In 2015, he took a chance on me to become the VP of Programming at Imagine H2O running the Accelerator, and it was a learning curve which laid the groundwork for what we do here at BIV. Scott is one of the most important figures in early stage water. Since 2010, he has built Imagine H2O into the premier accelerator for water entrepreneurs running three annual programs, and they announced their first pilot fund last year. All of this adds up to an enormous and rapidly growing degree of impact in water as the companies they backed and supported have revolutionized everything from groundwater management to flood insurance. Please enjoy my conversation with Scott Bryan. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Scott Bryan, President at Imagine H2O, joins Tom today to discuss the evolution of the water technology ecosystem. Together, they start by taking a look at how the early days were characterized by business plan competitions before the subsequent shift to emphasizing team strength, execution ability, and customer-centric approaches. Scott then goes on to highlight Imagine H2O's evolving selection process, the critical role of pilot projects, and the importance of impact measurement. Noting that water is a less polarizing issue than climate, allowing it a degree of stability, today’s episode also explores philanthropy in the water sector and Imagine H20’s focus on Asia, before wrapping it all up with Scott’s sage advice for water entrepreneurs.00:00 - Imagine H2O’s Role in Water Innovation02:19 - Why Water Has Lagged Behind Clean Tech04:08 - Early Challenges in Water Entrepreneurship05:40 - What Makes a Water Startup Succeed?07:30 - The Hidden Dangers of Fundraising Success09:41 - Key Milestones in Water Innovation Growth11:17 - How COVID Shifted the Water Tech Landscape13:17 - Why Most Accelerators Fail at Water Startups15:15 - The ROI of Water Startup Accelerators16:14 - Measuring Impact in Water Innovation17:45 - Why Water Needs Standardized Impact Metrics18:31 - The Unique Challenges of Running a Water Nonprofit19:34 - The Role of Philanthropy in Water Innovation20:24 - Why Climate Funders Must Care About Water22:46 - How Water Ties Into Public Health and Equity25:20 - Why Pilots Are Critical for Water Startups28:12 - How the Water Innovation Pilot Fund Works30:40 - Expanding Water Tech Innovation Internationally32:24 - Key Lessons from Imagine H2O Asia33:48 - Hiring the Right Talent for Water Startups35:12 - The Future of Water Tech Investment36:20 - Why Water Is a Bipartisan Issue38:22 - What Entrepreneurs Must Know About Water Policy40:11 - The #1 Advice for Water EntrepreneursLinks:Burnt Island Ventures: https://www.burntislandventures.com/Scott Bryan: https://www.linkedin.com/in/scottmilesbryan/Imagine H2O: https://www.imagineh2o.org/SM MaterialKey Takeaways:"Water is a trillion-dollar industry. It's the future of the world's most valuable...

True dyed-in-the-wool software pros are a valuable breed in water and Paul Hauffen is one of the best. A two-time entrepreneur, he sold his last company Sedaru, and, in a founding hiatus, is bringing his enormous experience to bear helping companies along their trajectory, partially as a BIV Venture Partner. Paul is a very wise man indeed and his insights on building solid foundations for companies, the hard yards of especially early sales and reference building, and the traps that founders can fall into are second to none. We're so lucky to work with him. Please enjoy my conversation with Paul Hauffen.Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Executive, entrepreneur, advisor, and BIV Venture Partner, Paul Hauffen, shares his insights on several valuable topics for water tech startups including common pitfalls for founders after securing funding, his personal journey into the water industry, and the development of his previous company, Sedaru. Paul offers advice on identifying and engaging early customers, outlines the benefits of targeting utilities, reflects on the evolution of software within the water sector, and shares the future of software opportunities. He finishes up by providing his perspective on marketing and sales, defining product-market fit, and emphasizing the vital role of strong customer relationships.00:00 - Paul Hauffen: Water Tech Visionary02:03 - The Biggest Mistake Founders Make03:57 - Why You Shouldn’t Celebrate Fundraising06:01 - Effective Startup Marketing on a Budget07:38 - Why Water? A Founder’s Journey11:27 - How to Identify a Profitable Market Opportunity14:50 - Building Trust Through Customer Inclusion15:21 - How to Land Your First Customer16:32 - The $40K Napkin Deal: Winning Early Sales18:01 - Checklist for Finding the Right First Customer21:16 - Why Utilities Make Great Customers24:25 - How to Win RFPs and Lock in Long-Term Contracts26:28 - The Evolution of Water Tech Software28:31 - The Future of AI and Software in Water33:30 - AI’s Role in Water Innovation36:29 - Marketing and Sales for Water Startups39:03 - Pricing Strategy for SaaS in Water Tech39:49 - Defining Product-Market Fit in Water Software42:17 - Lessons from Advising Water Tech Startups44:01 - The Customer Inclusion LoopLinks:Burnt Island Ventures: https://www.burntislandventures.com/Paul Hauffen: https://www.linkedin.com/in/paulhauffen/SM MaterialKey Takeaways:"Founders often get intoxicated with marketing before proving value.""Establish product market fit before allocating budget to marketing.""Practical marketing is essential until product market fit is achieved.""Build excuses to interact with customers to strengthen relationships.""Utilities are great customers because they prioritize productivity over profit.""AI allows us to revisit legacy workflows and solve problems faster.""Early customers should be small to mid-size, progressive, and decision-makers.""Balance vision with execution to turn ideas into reality.""The customer inclusion loop is vital for growth and trust...

There is a lot going on in AI right now, from the travails of ChatGPT to the technology being essentially single handedly responsible for the surge of the so-called “Magnificent Seven” and therefore the overall S&P 500 in 2024. But what does it mean for water? Mudasser Iqbal is a career technologist and an exceptional guy, previous CEO of Visenti before its acquisition by our friends at Xylem in 2016, and he and his co-founders reformed to pursue the AI opportunity in water. TeamSolve is going after a tough problem, essentially aiming at solving the lack of easily accessible institutional memory and insight in water utilities using the power of AI. This is a fascinating run through the ins and outs of applying this technology and water, the practicality of problem solving, working with remote teams, maintaining customer focus and much, much more. Please enjoy my conversation with Mudasser Iqbal. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Mudasser Iqbal, Founder and CEO at TeamSolve and noted ‘AI use in water’ visionary, details his organization’s mission to revolutionize utilities with their "knowledge twin," a formidable resource which effectively combats expertise loss. Accessible through everyday platforms, the Twin boosts efficiency for field techs and command centers. Building upon lessons learned from Visenti and Xylem, Iqbal stresses practicality, user feedback, and a distributed team model. He also urges water innovators to embrace tough challenges and strategic partnerships, mirroring TeamSolve's customer-centric, globally impactful approach.00:00 - AI's Evolution and Real-World Applications04:48 - Agentic Frameworks: Beyond Generative AI07:04 - Why AI in Water Matters Now09:37 - Real-World Examples: Institutional Knowledge Gaps12:25 - Knowledge Twin: A Practical AI Solution19:17 - Practical Uses: Field Technicians and Command Centers24:21 - Ensuring AI Reliability and Trustworthiness26:22 - Remote Team Collaboration: Lessons from COVID29:30 - Vicente Learnings: Collaboration and Customer Focus32:45 - Building a Customer-Centric Company Culture35:15 - Creating Moats: Knowledge Sharing and Network Effects38:51 - Maintaining Focus Amid Growth40:40 - Advice for Water Entrepreneurs: Solve Hard ProblemsLinks:Burnt Island VenturesTeamSolveMudasser Iqbal SM MaterialKey Takeaways:"AI has been around for decades, contributing to drug discovery, predictive maintenance, and more. It's not new, but its applications are expanding.""Generative AI connects the dots in water systems, overcoming data limitations and enabling real problem-solving.""Institutional knowledge in water utilities often retires with employees. AI can bridge this gap, preserving essential information.""AI's promise lies in solving real-world problems, not just generating text or images. It's about practical applications.""Focus on solving a hard problem that's bothering customers. Stick to it for long-term success.""AI can help leapfrog water utilities that are just starting their digital journey,...

Over the last decade, I've been so lucky to learn from seriously good water people, and Debra Coy is one of the best. Over four decades, she has built an extraordinary body of work from public markets analyst to XPV, the preeminent water investing firm that has been extraordinarily supportive to us, to her current independent role advising and sitting on the boards of major water companies. She sits on the investment committee of our Opportunity Fund and it has been such a pleasure to benefit from her insight and wisdom as we have made our first two investments at the Series B. This is a really fun conversation. Everything from the lessons for founders, from earnings transcripts to lending her perspective on the overall history of private markets investing in water. Please enjoy my conversation with Debra Coy.*Please note in the episode Debra mentions XPV raised a $250m FundI I. The correct amount was a $150m Fund I.Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------Legendary water industry leader, Debra Coy, reflects on the water sector's transformation from obscure investment to a recognized industry. She highlights the impact of increased investor knowledge, rapid digital tech adoption, and a new generation of business-savvy entrepreneurs. Drawing from her experience at XPV Water Partners, Debra emphasizes their focus on strong entrepreneurs and hands-on company building, and champions talent recycling within the sector. She also offers advice to aspiring water entrepreneurs: study public market data, balance ambitious vision with practical execution, and prioritize diverse leadership for enhanced performance.00:00 Learning from Water Industry Leaders02:30 - Water's Transformation into an Investable Sector03:15 - Challenges Across the Capital Stack in Water Investing04:45 - 14-Year Tech Adoption Cycle in Water06:45 - The Critical Role of Entrepreneurs in Water Innovation09:00 - XPV's Focus on Scaling Water Companies13:20 - Building Synergies with Operational Focus17:40 - Importance of Talent Recycling in Water Startups20:00 - Axius’ Growth Strategy with KKR Partnership22:30 - Managing Water Challenges in the Permian Basin27:30 - Public Markets as a Guide for Water Entrepreneurs30:20 - The Value of Reading Earnings Call Transcripts33:00 - Public Market Sentiment Around Water Investments35:25 - Key Traits of Successful Water Leaders37:30 - Advancing Gender and Diversity in Water40:25 - Balancing Vision and Execution as an EntrepreneurLinks:Burnt Island Ventures: https://www.burntislandventures.com/Debra Coy: https://www.linkedin.com/in/debra-g-coy-792992/SM MaterialKey Takeaways:"Water's finally becoming a real industry.""The quality of the entrepreneur is critical.""Digital tech adoption in water has a faster rate. It's shifted the market's openness to innovation.""The investment world has woken up to water as an investable sector.”"Public markets give you a constant report card. It's a real-time view of investor sentiment.""A diverse leadership team is a better leadership team.”"Think big but do small. Balance vision with execution to succeed.""Investors are emotional. They want to invest in what they believe in.""You can't wait for it to get better. You have to do what it takes to make it better."

We all know about the CEO in a company. When the company is small, the CEO does everything, and when it's big, the CEO sets the vision, hires the right people and makes sure they have what they need to be successful. But what about a layer deeper than that? Guillaume Clairet is a fascinating example of a world class COO. Now he's too modest to be known as the power behind the throne, but he's the guy that makes sure what needs to be done gets done. And it's an interesting time for him after both the $395 million delisting of H2O Innovation by Ember Infrastructure and their acquisition of NextEra’s Distributed Water business. Along the way, H2O Innovation have done things their own way and have built an exceptional business and this is a fascinating insight into the practicality of that journey. Please enjoy my conversation with Guillaume Clairet. Subscribe to The Fundamental Molecule here: https://www.burntislandventures.com/the-fundamental-moleculeFor the full show notes, transcript, and links to mentioned content, check out the episode page here: https://podcasts.apple.com/us/podcast/the-fundamental-molecule/id1714287205-----------H2O Innovation COO Guillaume Clairet shares his insightful journey through the world and business of water. He discusses navigating the complexities of public markets, mastering M&A strategies, and building robust recurring revenue models. Guillaume also details H2O's transformative acquisition of the NextEra’s Distributed Water business, a strategic move towards owning water assets and offering diverse customer solutions, and finishes up by offering his invaluable advice to aspiring water entrepreneurs.00:00 - Water Technology & Entrepreneurship01:50 - Erin Brockovich Inspiration03:45 - H2O Innovation Origin Story06:12 - Early Roles & Company Growth07:30 - Value of Full-Cycle Experience09:23 - Navigating Public Markets11:42 - Transition to Recurring Revenue15:16 - M&A Process & Integration19:03 - Successful M&A Integration Strategies21:01 - COO Role: Serving & Problem-Solving21:53 - When to Hire a COO23:04 - CEO Sequencing Operations26:18 - Going Private with Ember Infrastructure29:25 - NextEra Acquisition & Future Strategy30:30 - Holistic Water Solutions Provider36:14 - Advice for Water EntrepreneursLinks:Burnt Island Ventures: https://www.burntislandventures.com/Guillaume Clairet: https://www.linkedin.com/in/guillaumeclairet/?originalSubdomain=caH2O Innovation: https://www.h2oinnovation.com/SM MaterialKey Takeaways:"The CEO sets the vision. The COO makes it happen. It's a partnership of vision and execution.""When you're a startup, you wear many hats. You learn every aspect of the business from sales to operations.""Public markets teach resilience. They keep you on your toes, driving for performance and accountability.""In acquisitions, integration is everything. It's not just about buying a company, but making it part of your own.""A CEO should look at their strengths and hire to fill their weaknesses, making themselves obsolete in those areas.""Being a COO means being accessible. It’s about serving your team and solving problems.""In the water industry, patience is crucial. Progress is...