The Fundamental Molecule

Adam Tank's trajectory, from early leadership roles at GE to his entrepreneurial endeavors, offers a wealth of profound insights into the critical trilogy of water, technology, and entrepreneurship at the heart of this podcast. His experiences navigating the dynamic landscape of the water industry, as shared here today, offer valuable perspectives on the challenges, triumphs, and pivotal decisions that have shaped his extraordinary career. Together, he and Tom explore the importance of understanding customer needs, building trust, and effective communication in driving success in the water sector. They also review the strategic decisions, intellectual architecture, and relentless innovation which have propelled Transcend to its current role as an industry leader guided by the inspiring leadership of Adam and his talented team.

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

Episode Highlights:

0:00 Start

0:49 Introduction

1:45 Adam’s work history

6:58 Key stage gates in his career

14:20 Working with utilities and consulting firms

22:49 Transcend and the value it provides

27:47 Adam’s role at Transcend

28:52 His thoughts on marketing

31:29 Speaking the customer’s language

33:52 Company building as a ‘spin-off’

35:18 Starting with the ‘why’

37:52 The power of foster parenting

41:20 Adam’s most important advice for emergent water sector founders

Links:

Burnt Island Ventures: https://www.burntislandventures.com/

Transcend: https://transcendinfra.com/

Water We Talking About?: https://www.wateronline.com/solution/water-we-talking-about

Quotes:

"I stumbled into water... It's just an unbelievably compelling industry for so many reasons."

"What you think may be the thing that's valuable to the customer may not actually be the thing that's most valuable to the customer."

"The presence or absence of water not only impacts how much food you can produce…but it also has a significant impact on the safety of the food."

"The worst thing that can happen for an entrepreneur is to spend a year, two years, three years and all of Burnt Island's money building this thing that no one is willing to pay for."

"We need more people from outside of the sector, no question. But I will say that part of the reason that innovation is a bit slower in this industry is that we have had people come in that are not water experts, that have said, 'I can solve all of your water problems,' but they're coming with a different lens."

"Listen to your customer.”

John Bertrand is our kind of founder, a wastewater engineer who has operated inside and outside the utility fence - he understands his market upside down. What he saw in his time in the utility world led him to wonder if the messy world of managing the constant stream of incoming data from utility customers - calls, text messages, 311 alerts, voice messages, web forms - could be automated, freeing up the dedicated professionals who traditionally handle this work to focus on more important tasks. And so, teaming up with his co-founder Ryan, they started Daupler, which now serves more than 85 customers - not only water and wastewater utilities, but full municipalities, police and fire dispatch, power companies, and restoration companies. There is a giant opportunity here to build the field operating system for the built environment. And John is consistently impressive, not only in pushing the company to the verge of 5 million in bookings, but the originality and logic of his thought. He really is a diamond. Please enjoy my conversation with John Bertrand.

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

-----------

John Bertrand, Daupler's Co-founder, takes a deep dive into the intersection of technology, utility management, and entrepreneurship as he shares his company’s transformative journey, offering valuable insights for emerging founders in the water industry along the way. His narrative illuminates Daupler's strategic evolution, focusing on aligning technological innovation with utility needs to revolutionize response management. Today’s episode also explores Daupler's role in enhancing operational efficiency and customer satisfaction, while discussing key aspects of technical and commercial expansion, providing a comprehensive view of the future landscape of utility management.

Episode Highlights:

0:00 Start

0:49 Introduction

2:01 John’s history with the water industry

2:39 Working for the utility vs as a consultant 

3:25 Consultants as ‘gatekeepers’ in the water sector

7:14 The problem Daupler solves

10:34 Daupler’s CTO and Co-founder, Ryan Rosenbaum

12:10 What Daupler does

14:36 Learning from an early misstep

16:47 Comparing Daupler with PagerDuty

18:56 Building Daupler customers’ operating systems

21:40 Moving into adjacent sectors

23:59 Creating a critical mass of customers throughout the US

25:58 What John has learned about marketing his product vs sales

27:33 Daupler’s moat

29:23 AI and its role in Daupler

32:04 The critical mass of data within water utilities

34:37 The current and future state of utility management

37:32 Going international

40:15 The one lesson John would pass on to emerging water founders

Links:

Burnt Island Ventures: https://www.burntislandventures.com/

Daupler: https://daupler.com/

Quotes:

"For most municipalities, that has the most pain, being the water or wastewater department.”

"You need to monitor the data, watch your trend, and then take appropriate action.”

"The data will be the real value."

"For most utilities, they are thinking about things in a proactive and preventative way because those are places of comfort where they can have control."

“Don't sell vitamins, sell painkillers. Change their life.”

People always bang on about disruption, and usually it's meaningless. Some very rare founders should bang on about disruption because they're actually doing it, but don't. I like to think it's humility, but more importantly, it's because they decided to go and solve a real, deeply felt problem in the market, usually in an overlooked sector, and happened upon a deeply powerful pathway of company building. Tyler Henke, CEO of Ziptility, is one of those founders. He and his team noticed that the market, and especially the software market, didn't build, excuse my French, anything useful for the people who make the small communities of America function - the utility operators. They were forced to run these systems according to whatever needed fixing that morning with post-it notes, bits of paper, and if they were lucky, a 1997 Dell PC. Tyler correctly saw the potential for an excellently designed, mobile-first, user-generated operating system that could help these amazing professionals do their jobs easier, better, cheaper, more collaboratively, and reliably. He's an amazing guy, and it's an amazing platform.

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

-----------

Tom is joined by Tyler Henke, Co-Founder and CEO of Ziptility, and together they explore Ziptility's groundbreaking journey in disrupting the water technology sector, addressing the challenges faced by small water and wastewater utilities across the United States. Tyler shares insights into the vast market potential within the US, highlighting Ziptility's focus on smaller to mid-sized utilities and their approach to trust-based sales, emphasizing genuine relationships and tailored solutions. He also unravels the layers of Ziptility's mission, focusing on such themes as understanding the utilities' world, building better tools for change, and fostering customer engagement and innovation.

Episode Highlights:

0:00 Start

0:49 Introduction

1:59 Tyler’s journey to, and with, Ziptility

4:48 Small water and wastewater systems

7:06 Developing Ziptility

11:41 Customer contact

14:40 Ziptility’s function, benefits, and market

20:37 Acquisition, and lifetime value, of customers

23:15 The stickiness of Ziptility’s customer relationships

25:51 Ziptility’s customer loyalty

29:45 Customer success now and for the future

31:58 Lessons learned about assembling a team

35:27 The future of software and other products for utilities

37:33 Tyler’s lesson for the next generations of water founders

Links:

Burnt Island Ventures: https://www.burntislandventures.com/

Ziptility: https://www.ziptility.com/

Persistence is an underrated quality of the best entrepreneurs. VCs never think they underrate it, but they do. The public only ever sees the glory and fireworks when an entrepreneurial story works. But it's the application, the effort, the persistence that lies behind every great outcome that is the primary determinant of that outcome. Matt Swindle, the CEO and co-founder of NLine Energy, has it in spades. Not only did he attain the rank of Colonel in the Marine Corps, a rank he retains in the reserves, he and his team are building a potentially enormous company. Quietly and methodically, NLine Energy has the potential to turn every sizable boiler in the world into a power plant - don't worry, he will explain - while another vertical of the business is the best small hydro remediation assessment and upgrade team in the country, if not the world. It's a super business. The return for the customers is enormous. Their moat is physics. The tailwinds are global and intense, and it's such a pleasure to learn from Matt as he puts one foot in front of the other.

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

-----------

Matt Swindle, CEO and Co-founder of NLine Energy, joins Tom on the podcast today to share details of his striking entrepreneurial journey and discuss NLine’s evolution into a global powerhouse discreetly transforming boilers into power plants. Their conversation delves deep into such topics as energy recovery, thermal technology, and sustainable growth as it showcases NLine Energy's mission to harness wasted energy. From the Marine Corps to pioneering renewable energy solutions, Matt's journey, as shared here today, serves as a beacon of inspiration that offers a treasure trove of insights into entrepreneurial brilliance and resilience, rendering this episode yet another must-listen edition of The Fundamental Molecule.

Episode Highlights:

0:00 Start

0:49 Introduction

1:56 The arc of Matt’s career thus far

5:13 Differences between Matt’s 1st and 7th startup experiences

6:25 The importance of talent management

8:48 The story behind NLine Energy

11:54 NLine’s early years

17:20 Moving into the thermal business

23:20 The importance of steam

25:57 The boiler room’s impact on business operation

27:54 Demystifying grants and investment tax credits

31:19 The financial side of building NLine

36:09 Managing the sales cycle decision-making process

4o:37 Matt’s thoughts on his ‘moat’ and competitive positioning

43:45 His biggest takeaway lesson

Links:

Burnt Island Ventures: https://www.burntislandventures.com/

NLine Energy: https://www.nlineenergy.com/

George Hawkins is one of those people who always elicits a smile from those who know him when he comes up in conversation, even when he's not there. The smile also comes when he is present, but the absence of the smile is telling. He is perhaps one of the most admired figures in the US water market, and possibly even in the global market, and for good reason. His work in turning around DC Water from the least trusted public entity in Washington DC to the most trusted in just eight years is one of the best business transformation case studies in history, and unfortunately, not enough people are aware of it. Since stepping down from DC Water, he has become a founder with Moonshot Missions, supporting under-resourced utilities in undergoing the same kind of transformation that he led at DC Water. He has learned the challenges and difficulties of bringing something new into the world. He is a practical, fun, energetic, insightful, sensible, and demanding leader to his core. It is truly a pleasure to welcome him to The Fundamental Molecule.

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

-----------

Today, the legendary George Hawkins delves into his exceptional life journey - from the early experiences that ignited his environmental passion to his leadership roles and the founding of his nonprofit. As you will hear, George's illustrious career is a testament to his transformative prowess, highlighted by the truly remarkable turnaround of DC Water. Currently the Founder and CEO of Moonshot Missions, he draws upon his vast experience to impart invaluable advice and wisdom on leadership, trust, the art of relationship-building, and making an impact upon the world.

Episode Highlights:

0:00 Start

0:49 Introduction

2:23 George’s professional journey

8:59 DC Water’s previous reputation

11:37 George’s thoughts on his first day at DC Water

15:20 The moment he knew he would succeed in his mission at DC Water

19:21 Rebranding DC Water

22:33 His Moonshot Missions idea

26:34 George’s lesson from running a large company to a small one

28:16 Building a team from the ground up

31:32 The challenges faced by small utilities

33:45 Moonshot Missions’ marketing

36:37 Having the greatest impact within the water sector

39:55 Entrepreneurship’s impact on George’s skills acquisition in the past, present, and future

45:08 Exceptional communication skills

49:01 Advice to emergent water entrepreneurs

Links:

Burnt Island Ventures: https://www.burntislandventures.com/

Moonshot Missions: https://www.moonshotmissions.org/

Repeat entrepreneurs are a special breed. They have essentially proved that they operate through skill and not luck, and Wayne Byrne is one of the most skillful. I met him in 2015 in San Francisco as he was picking up one of many awards for OxyMem as they built towards their acquisition by DuPont, his fourth exit in an illustrious career. He's been able to play both the hardware and software games at a very high level indeed, and has been an invaluable source of advice and support, both for me personally and for the Burton Island. Please enjoy my conversation with Wayne Byrne.

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

-----------

This week, serial entrepreneur Wayne Byrne joins Tom to share his somewhat unconventional entrepreneurial journey, offering insights into the nexus of water, technology, and entrepreneurship. From early ‘side hustles’ to his pivotal role at OxyMem, Wayne's experiences underscore the significance of transparency, resilience, and embracing challenging moments as catalysts for growth. He discusses the dynamics of European and US water markets, advocates for strategic market entry, introduces Method Capital's role in providing non-dilutive project finance for sustainability innovators, and highlights the pressing need for water sector innovation.

Episode Highlights:

0:00 Start

0:49 Introduction

1:35 Wayne’s entrepreneurial origins

2:51 His early journey into cleantech

4:57 Wayne’s ‘meander’ into the water industry

6:08 His attraction to ‘university spinouts’

10:10 OxyMem and the notion of defensibility

11:51 OxyMem and the MABR

16:00 Wayne’s perspective on partnerships

18:28 Key components in his entrepreneurial successes

21:57 Processing difficult moments in a small organization

23:59 Wayne’s thoughts on the CEO-Board relationship

26:56 His perspective on the learning cycle

29:06 Comparing water market early stage technology in Europe and the US

33:03 Wayne’s approach to new market entry

34:33 His thoughts on the level of future dynamism in the water sector

36:20 Method Capital

39:15 Transferable lessons learned from entrepreneurship and parenthood

40:42 The one entrepreneurship lesson he would pass on to emerging water founders

Links:

Burton Island Ventures

Wayne's LinkedIn Page

Method Capital

I first met Christine Boyle about a week before I specialized in water at Imagine H20's annual winners announcement, where she was receiving the award for Best Early-stage Water Company in 2015. Fast forward almost eight years, she has been an extraordinary guide and mentor. After selling her company Valor Water Analytics to Xylem in 2018, she remained with the company to head up much of their internal digital innovation efforts. She understands more than most the grind of company building in the space, building a market-leading product, picking your way through the utility sales process, hiring and managing brilliant teams. A veteran of both Y Combinator and Techstars, she also has an invaluable perspective on the standards for company building outside water. She's just excellent. Please enjoy my conversation with Christine Boyle.

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

-----------

Tom welcomes Christine Boyle, a truly remarkable figure with a unique journey in the water industry. After winning the Best Early Stage Water Company Award in 2015, Christine's company, Valor Water Analytics, caught the attention of Xylem, a global water company. Driven by her dedication to build outstanding companies, save water, and create professional ecosystems to solve complex global dilemmas, Christine has been a Partner at Burnt Island Ventures since May 2023. In this candid conversation, you'll gain insights into Christine's incredible journey, the challenges of building a water-focused venture, the dynamics of water economics, and so much more.

Episode Highlights:

0:00 Start

0:48 Introduction

1:44 Christine’s start in water

3:31 The water problems she’s been trying to solve

7:06 Christine’s experience as a CEO

9:07 Exiting Valor Water Analytics

11:45 Comparing Venture building within and outside the water sector

14:23 Christine’s advice for entrepreneurs regarding rapid growth

16:43 Valor’s deployment process and the nature of the sales of utilities

19:16 What Christine has learned from top-tier training

21:06 Her perspective on the rise in data on water

23:41 The need for better technology and devices

28:09 What Christine has learned going from the start-up world to the corporate world

29:30 The tension between having an impact and creating something commercially viable

31:01 Her perspective on the macro water sector

33:03 The link between water and human health interventions

36:24 Christine’s reflections on China and its water 

38:32 Her one lesson learned that she would pass on to future water founders

Links:

Burton Island Ventures

Christine Boyle's LinkedIn Page

You don't often meet someone that you immediately know you'll remember where and when you met them for a very long time. That happened to me with my guest today, Alex Rappaport, CEO of ZwitterCo, at a conference in 2018. I was minding my own business when a coiled ball of energy introduced himself to me, and it was clear that this was a very talented founder indeed. Alex and his co-founder Chris have made remarkable strides in the last four years, and since we invested in April 2021, the pace of development has been remarkable. Alex represents a lot of good things that we look for in founders, but particularly the importance of entrepreneurial process, the thought process that goes into the systematic retirement of risk, the allocation of investment, the sequence of hiring. As an investor, what you're looking for is someone who makes structurally good decisions under conditions of uncertainty. Now, not all of those are going to pan out, of course, but if you have a good decision-maker at the heart of a company, it's a great position to be in, because at its core, building a company is just an endless sequence of decisions. That's why the person driving the bus matters so much. This episode covers a lot of ground and I think gives good insight as to how he thinks about company building and the development of a complex and highly impactful product. And it's insight that all entrepreneurs can draw on, particularly his observation in the final question about the cadence of learning. So please enjoy my conversation with Alex Rappaport.

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

-----------

Alex Rappaport, CEO of ZwitterCo, shares his journey from academia to entrepreneurship, emphasizing the importance of data-driven decision-making and adaptability in the business world. He highlights ZwitterCo's groundbreaking technology, addressing membrane fouling issues in water treatment, and the significance of strategic partnerships in the industry. Throughout the conversation, Alex shares valuable insights into the challenges and opportunities faced by entrepreneurs in the water technology sector, offering a unique perspective on building meaningful relationships and scaling solutions.

Episode Highlights:

Links:

Burton Island Ventures

ZwitterCo

This is a podcast about entrepreneurs. Given that, our guest today might be a little unexpected. Mirka Wilderer is the archetypal corporate innovator, having spent her career with some of the biggest names in the space. Until last year, she was CEO of De Nora and led the IPO of the Italian company. Under her tenure, De Nora evolved into a force in the water market globally, especially in the US and increasingly in Southeast Asia. She's a model professional and, as you will hear, deeply insightful on the science, management, team, motivation, and strategy. All company builders can learn from her example. 

Please note that at the time of recording, Mirka was still the CEO of De Nora, though she announced her resignation shortly afterwards, and is now the CEO of Bain Capital-backed AqueoUS Vets. Please enjoy my conversation with Mirka Wilderer. 

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

-----------

On today’s episode of The Fundamental Molecule podcast, Mirka Wilderer, former CEO of De Nora Water Technologies, discusses her career evolution through the water industry. Wilderer offers her insights on topics such as innovation, hiring practices, emerging contaminants like PFAS, and the intersection of science and entrepreneurship. You’ll also hear about Wilderer’s passion for supporting the next generation of leaders, especially women, and fostering diversity in the business world.

Episode Highlights

1. Mirka Wilderer's Career and Influence in Water Technology: Mirka discusses her journey from childhood exposure to water treatment through her parents, to her leadership roles at Siemens and De Nora. Her career trajectory illustrates the evolution of water technology and her influence as a female CEO in this male-dominated field.

2. Innovative Leadership and Diverse Teams: Mirka emphasizes the importance of innovation in leadership, drawing on ideas from adjacent fields, and the value of cognitive diversity in teams. Her approach to team building focuses on varied backgrounds and experiences, aiming to foster innovation and adaptability within the organization.

3. Strategic Decision-Making and Company Growth: We delve into Mirka's strategic insights, particularly in decision-making and prioritizing opportunities that align with the company's core strengths. She highlights the significance of saying 'no' to opportunities that don't align with the company’s strategic goals.

4. Global Market Perspectives and Challenges: Mirka offers insights into different global markets, including Southeast Asia and Europe. She discusses the agility of the Asian market and contrasts it with the regulatory challenges in Europe, particularly in water technology and innovation.

5. Advice for Emerging Leaders: Always be authentic and self-driven, build strong relationships, stay true to your strengths, and continuously strive for personal and professional growth.

Links:

Burton Island Ventures

Mirka Wilderer's LinkedIn Page

It's always so fun seeing great companies being built for the right reasons. Bessie Schwarz, CEO of Floodbase, has been on a mission to help the world's most vulnerable people since her early 20s. Her company is not only the flood monitoring partner of FEMA and the United Nations, she is also building a quiet revolution in the insurance industry, helping to bring parametric flood insurance (long mooted but not feasible until now) to reality. Their announcement last year alongside one of the world’s leading reinsurers of the provision of parametric flood insurance for the rural farmers of Colombia is a world first. Alongside her co-founder Beth, they are building a company with enormous impact and commercial potential. Plus, she's awesome. Please enjoy my conversation with Bessie Schwarz.

-----------

This episode of The Fundamental Molecule podcast features an interview with Bessie Schwarz, co-founder and CEO of Floodbase (formerly known as Cloud to Street). Floodbase provides advanced, near-real time flood monitoring globally by combining satellite imagery and ground data. Bessie discusses how Floodbase got started, their work monitoring floods for governments and the UN, and their move into the insurance industry to provide parametric flood insurance. 

Episode Highlights:

- Bessie co-founded Floodbase with the goal of using information technology to help communities equitably adapt to climate change disasters like flooding. After meeting at Yale, Bessie and co-founder Beth Tellman created an algorithm to detect flooding from satellite images. 

- Floodbase is the flood monitoring partner for the UN, helping them with disaster response and relocation when floods threaten vulnerable communities. Their flood monitoring methodology was featured on the cover of Nature magazine.

- They are now working with insurance companies to provide parametric flood insurance that pays out when a flood event surpasses a given size measured by a combination of satellite and ground sensor data , expanding coverage to uninsurable areas and risks.

- In the podcast, Bessie points out that financing is one of the biggest challenges for climate adaptation. Insurance can help redirect capital to at-risk places and resilience projects, but the mechanism and data for insurance underwriting and payouts has to be there.

- Bessie and Tom discuss the importance of viewing climate resilience not only through a mitigation lens but also as adaptation. Adaptation is a lot more hopeful than long-term technological fixes.

- Bessie’s advice to founders - Effective storytelling requires using simple language, balancing fear and hope (2 doses fear, 5 hope), and focusing on solutions. 

Links:

Burton Island Ventures

Floodbase