Frightening to think we’re two thirds of the way through Q4. Even more frightening that we just put up our Christmas tree. 2022 has felt like being shot out of a cannon.
We have two upcoming BIV Founder Sessions which will be fascinating insights into VERY different businesses. To attend one or both,?sign up here:
Greg Floyd
(CEO,
Shower Stream
) - December 13th, 3pm ET
Tyler Henke
(CEO,
Ziptility
) - December 14th, 11am ET
All the best, and thanks as ever.
BIV Monthly Update – 5th December 2022
- Delighted to welcome the 18th company to the Burnt Island. A strong addition to the portfolio.
- Encouraging Q3 Board Meetings with Aclarity, Ziptility & Daupler. Fascinating progress, and great discussions.
- Successfully putting out our Q3 Update. Good reception from the LPs. Next up is the year end review of 2022. Mercifully, we’re where we would want to be – but much work ahead of us.
- A spectacular Thanksgiving with Ruki’s family, including a 12 dish Szechuan meal cooked from scratch – one for the ages. To think that not too long ago I believed Szechuan peppercorns to be the work of Beelzebub himself. No longer.?
- 2S Water?– $1.4m grant application submitted, with support from first customers. Technical updates almost complete. Second unit shipped.?
- Aclarity?– Writing up terms for first full sale, and first major strategic partnership. Hardware performance impressive (high concentration PFAS to non-detect)
- Aquafortus?– 600 bbl/day pilot progressing. Five groups interested in being the first deployment site.
- Beagle Services?- Software development on track, SaaS platform ready for launch. New York Master Plumber in place.
- CivilGrid?– Commercial pace maintained, impressive work on the articulation of the Seed argument. Will be open in Q1.
- Cloud to Street?– Strong deal pipeline being built.
- Daupler?– Already added $731k in ARR upsell bookings in Q4. Voted top company at the Smart Utility Summit. Could save Auckland (NZ) $5m/yr.
- LAIIER?– Joint Marketing Agreement with Henkel?in place. Shipped product to US, UK and Middle East. Good European BD progress.
- NLine Energy?– Catching the eye of sizeable capital providers. Performance data from recent deployments strong. $45m pipeline growing with post-IRA grant/tax credit increases.?
- SewerAI?– Major deal confirmed with PG&E, on course for $3.5m ARR run rate by year end. Excellent sales execution. Building strength.?
- Shower Stream?– Deployed with Extended Stay America - one month complete, happy customer. Potential $9m ARR alone. Good hardware progress.
- Spout?– Good slate of initial designs for the launch product.
- StormSensor?– Focusing on FL beachhead and NJ/NYC pilots.
- SwiftComply?– More strong progress.
- Ziptility?– Important net $20k+ sale including LCRR management. Closed in 36 days. NRR engine starting to work.?
- ZwitterCo?– Major Bioprocessing project up and running. Alex (CEO) selected to Forbes 30 under 30. Named BIG Awards 2022?startup of the year.
- Work with the Burnt Islanders
- All open roles with the Burnt Islanders are advertised through the?BIV Jobs Board?which is?accessible here
- Overall Pipeline: 430 (+25)
- Reviewing an interesting company in disaster resilience, but the bar for any portfolio additions is very, very high.
- Jennie has been a huge help in stewarding the pipeline.?
- We are at the end of the selection process for the analyst role. 3 exceptional candidates in the running, and a difficult choice to make.
- Marissa and I spent a full day together post-Thanksgiving - excellent progress made on the planning for 2023 around our platform in particular.
- We have completed 61 actions for BIV companies in Q4 so far. Not bad.
- Applications now closed for our Spring Analyst position. Keep eyes out for our Summer listing(s).?
We’re Reading/Listening/Watching
- The Guardian ran an?interesting series of articles?on UK water companies. The depth is another clear indicator of the increased scrutiny of all manner of water issues.
- Acquired’s?episode on Enron?was fascinating in the context of FTX - obviously not?exactly?the same, but the sequence of decisions never gets any less mind-boggling.
- The FT’s series on?Brexit’s impact?made for depressingly predictable reading.?
- A Boil Water notice?in the US’s fourth largest city is, uh, not good.?
- Getting the final Analyst decision right.
- 2023 planning in decent shape, but more to come.
Thanks so much as ever. Email?[email protected]?if I can help in any way.
Chief Executive Officer | SimpleLab, Inc. | Environmental Laboratories by API
2 年Very cool ! I like this newsletter , it reveals many ways in which new water tech enters climate. Nonetheless, I've noticed a trend--Those of us in the water space advocate (and rightly so, I believe) for water's inclusion in Climate Tech. But when "mainstream climate" does it's roll-call they seem to only rarely name "Water" as a core vertical. For example, we often see: Energy Built environment Food Carbon management Transportation... Water (and air) are vastly important yet often missing on lists like these. Perhaps it's because we're supposed to view water as part of something else? Water as "part of Food" maybe? I dunno. Chalk it up to a combination of ego and scientific reality but Water still feels under-emphasized in the rhetoric of mainstream climate change circles. I'm very interested in this so hmu if you have ideas.