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The Fundamental Molecule

By: The Fundamental Molecule with Tom Ferguson Burnt Island Ventures
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  • Summary

  • Welcome to The Fundamental Molecule. This show explores the intersection of water, technology and entrepreneurship. Each week, Tom Ferguson, Managing Partner of Burnt Island Ventures, interviews innovators, experts, entrepreneurs and investors in the world of water, to help us understand where this trillion dollar industry is headed. These are the stories of the people building the future of the world’s most valuable and fundamental resource. Explore all of our episodes and learn more at https://www.burntislandventures.com/the-fundamental-molecule
    2023 Burnt Island Ventures
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Episodes
  • Dr. Reinhard Hübner, CEO at SKion

    Dr. Reinhard Hübner, CEO at SKion
    May 1 2024
    It's important to have people you look up to in the industry you choose. And by "look up to," I mean to be consistently, wildly impressed by what they're building, their intellect, their clarity of thought, their track record, and how they comport themselves. Reinhard Hübner is one of those people for me. As the CEO at SKion, he has built an undeniably impressive platform, yielding $700 million in global revenues and with no signs of slowing down. They know exactly how big their opportunity is. And he and his partner, Dirk Brusis, have built an interlinking set of companies, solutions, and technologies to really go after it. Please enjoy my conversation with the excellent Reinhard Hübner. 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 ----------- Dr. Hübner delves into the strategic layers of the water industry, tracing his ascent from wastewater treatment to leading SKion's global expansion. They explore operational dynamics, the significance of human capital, and the complexities of mergers and acquisitions amid economic flux, emphasizing strategic growth and valuation discipline. Hübner discusses startup challenges, underscores direct customer relationships, and the necessity of a unified, innovative culture within SKion's network. Today’s discourse reveals SKion's strategic direction and ethos, imparting insights on adaptability, collaboration, and leadership vital for navigating the water industry's ever-evolving global challenges. Episode Highlights: 0:00 Start 0:49 Introduction 1:39 Dr. Hübner’s career to date 3:45 Lessons learned from manufacturing and logistics experience 5:06 His experience in leakage 6:52 Drinking water vs wastewater reflections 8:56 Being headhunted to work in the German water industry 9:45 Learnings from the first deal that didn't work 14:18 Structural shifts that are enabling the faster adoption of new products 17:04 SKion and its relationships with business 23:40 M&A and the current market 27:26 Is water countercyclical? 28:40 Structural comparison of the European and US markets 32:03 The evolution of Dr. Hübner’s job 35:27 His thoughts on earlier stage investing 37:47 FIDO and leak detection fun 39:19 His partnership with Dirk Brusis 42:18 The pros and cons of Dr. Hübner’s public speaking 44:47 His most important piece of advice for aspiring water entrepreneurs Links: Burnt Island Ventures: https://www.burntislandventures.com/ SKion Water: https://www.skionwater.com/en/ Quotes: "There's no such thing as life before water." "You can't eat services...Somebody has to produce something from something." "It's a conservative sector, and on the municipal side, they don't take risks." "We don't want to be the biggest. We want to be the best." "Forced collaboration is like forced labor...it doesn’t work." "You need to be patient, which is not always my strength." "We have been very disciplined in not overpaying." "Water is full of passionate people. Nice, passionate people." "I mean, the reality is drinking water is, technologically and asset wise, much simpler than wastewater." "Don't try to do it alone. Find partners also in the industry."
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    46 mins
  • Anthea Sargeaunt, CEO and Co-founder of 2S Water

    Anthea Sargeaunt, CEO and Co-founder of 2S Water
    Apr 17 2024
    Anthea Sargeaunt is the CEO and Co-founder of 2S Water. Multivariate, real-time non-contact sensing is one of the holy grails of water management. Getting it right will allow all stakeholders to understand what is in their water in real time. And if we can get it really right, this knowledge will allow a host of improvements in water management, including reduced chemical and energy use, reduced pollution, reduced fines, improved health outcomes, improving the pace and cadence of experimentation with new technology. The list is very long indeed. Anthea and her team have taken a fascinating pathway from problem selection to massively leveraging their equity through grants. She is an exceptional founder and person and one of the best founder communicators I have met. I loved her insights into the importance of public speaking as you're building a company. Please do enjoy my conversation with the excellent Anthea Sargeaunt. 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 ----------- Anthea's entrepreneurial journey, spanning from early ventures to the oil and gas sector, showcases her problem-solving prowess and industry acumen. Today, she and Tom explore partnership complexities and grant acquisition, stressing understanding partner expectations and grant funding's role in startup growth. Anthea's insights emphasize genuine connections, adaptable communication, and infrastructure investment for streamlined product development. This dialogue not only underscores innovation's transformative power but also offers guidance for aspiring water entrepreneurs, marking a pivotal moment in industry evolution. Episode Highlights: 0:00 Start 0:49 Introduction 1:50 Anthea’s career to date 6:10 2S Water’s genesis 8:30 Its product and the problem it solves 10:43 Understanding the problem 14:39 Establishing early customer relationships with large companies 16:50 Pros and cons of this early engagement 18:19 Crossing the Chasm and Anthea’s implementation of it 21:11 Navigating partnerships 27:00 Funding with grants 29:19 Key skills in writing grants 32:48 What surprised Anthea most about the water sector 34:32 What she has learned since joining it 35:19 Anthea’s advice based on these learnings 37:05 Her experience in the Lithium market 39:52 Working with family 42:24 Anthea’s speaking and presenting skills and their value 46:01 Her most important piece of advice for aspiring water entrepreneurs Links: Burnt Island Ventures: https://www.burntislandventures.com/ 2S Water: https://www.2swater.com/ Quotes: "I've always been surprised at water treatment operators. They're such a special breed of people. They do it because they love it.” "In the mining sector, when we look at it, there is no other real path to the market than through the large multinationals." "If you don't have that kind of insight coming from the other side of the table, it's hard to get it anywhere else." "Partnerships are completely fundamental... cultivating them is vitally important." "Writing a grant is much like any other sales process... understand what the grant organization is trying to accomplish." "The lab isn't the field... get out into the field as fast as you can."
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    47 mins
  • David Stanton, CEO at Cleanwater1, Inc.

    David Stanton, CEO at Cleanwater1, Inc.
    Apr 3 2024
    When I started Burnt Island Ventures, I needed help. I needed help of all kinds. But one of the things I needed most as a first-time fund manager was credibility in the decision-making process. Alongside Ivy Nguyen, David Stanton agreed to become a member of our investment committee, and he put a crucial brick in the BIV credibility wall. In this episode, you will see why. David is deeply experienced in startups, growth companies, and corporates, and he now runs Cleanwater1, hired by Baird Capital after they purchased UGSI in 2022. I have learned so much from David, from management tactics to market assessment, and I know you will too. Please enjoy my conversation with David Stanton. 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 ----------- David Stanton shares profound insights into the nuanced evolution of the water sector, from the consolidation era of the '90s to the contemporary landscape shaped by digital transformation and rate alignment. Delving into themes such as entrepreneurship, sales dynamics, and M&A strategies within the industry, he uncovers the intricacies of navigating structural dynamics and fostering operational excellence. With an emphasis on the paramount importance of sales in driving business growth and the imperative of building resilient virtual teams, today’s engaging dialogue offers invaluable insights into effective entrepreneurship and team management strategies. Ultimately, through past experiences and future aspirations, the episode illuminates the path towards sustainable success in the ever-evolving water sector landscape. Episode Highlights: 0:00 Start 0:49 Introduction 1:53 David’s career in water 5:47 How water utilities are allowed to make money 10:57 David’s key learnings in entrepreneurship 14:23 How to do M&A well 19:39 Private equity 23:40 The importance of the nomenclature used within the industry 26:12 Client and customer terminology 29:11 The role of consulting engineers 31:14 Clearwater1’s dual incentive structure 33:28 Changes in the water sector past, present and future 36:41 The industry’s public narrative 41:07 Hiring and managing teams 43:02 David’s one piece of advice for aspiring entrepreneurs 44:18 Christine Boyle’s “Why Deep Pain Leads to Great Products” Links: Burnt Island Ventures: https://www.burntislandventures.com/ Cleanwater1: https://cleanwater1.com/ Quotes: "The industry really has been driven by what I would call the macro trends of the decade or so that were affecting the industry." "For most businesses, the issue isn't, 'Does my product work and is it good?' It's 'How do I sell it at scale in a market that's so fragmented and disenfranchised?'" "Our job as the leadership team, to be quite blunt, is to take advantage of the best path through the financial industry to meet the end or means that we’re trying to achieve." "The number one killer of good ideas is valuation. If you sell your business at a stupid valuation, I mean, it's what killed my startup in 2012." "Teams are virtual now... You want to solve for this. It's really, really an important skill." "The revenue doesn't happen without sales, and the business doesn't happen without the revenue. What could be more important?"
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    45 mins
Leadership Management Economics Personal Finance
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