[Extract] "We're doing Water as a Service for Many many Years!" - Devesh Sharma - Aquatech

Devesh Sharma is the CEO of Aquatech. Aquatech helps the world's most recognized companies solve important water challenges.

There's a fine line between risk-taking and putting all you have at stake, between perseverance and obstinacy, and between grit and recklessness. And it's only when the dust settles that you'll know on which side of the line the ball decided to fall.

When I started my career in the water industry, veterans were telling me: keep your fingers off the industrial market. It's a "who's the cheapest" game, and they're so short-term-minded that it's depressing.

Yet, at the same time, these veterans opted out of the industrial game; Aquatech was created as an almost pure-play dedicated to that very specific end of the market. Risk-taking or putting all you have at stake? 

A couple of decades later, and long before it was hype, that same Aquatech ventured into Water as a Service to speed up the adoption of its technologies. Perseverance or obstinacy? 

And while the world of Water consolidates in a fashion we've probably never experienced before, Aquatech trusts it can keep growing and build its path as a private, family company. Grit or recklessness?

Well, I don't have all the answers, but what I can tell is that as the dust settles, the industrial end of the Water Market is the one thriving right now, as it's faced with the hottest challenges ever, which in turn generate new opportunities. 

And as Devesh will explain in a minute, 30% of Aquatech's revenue today comes from its Water as a Service; said differently, they have a 30% - probably high-margin - annual recurring revenue with a plan to expand it to 50%. That's a ratio that kind of turns a hardware company into a software/tech type of play. And with that mix, Water suddenly becomes a much more scalable business - as we've seen with Gradiant recently turning into the water sector's first unicorn. 

Well, Gradiant and Aquatech are certainly not the same, but they have similarities in the technologies they develop and the markets they serve. And Gradiant claimed its unicorn status, thanks to a 225 million dollar series D raised at that billion-dollar valuation. I'm throwing Gradiant in the discussion here because we're debating the possible next steps for Aquatech with Devesh today. 

And my napkin calculations and estimates indicate to me that Aquatech is probably already a unicorn, given its revenue mix, proprietary technology, and turnover somewhat double of Gradiant's. Take it with a pinch of salt; none of these companies are public, so it's pure guestimates.

Now, I mention dust settling, and I'm using that metaphor on purpose. Because Aquatech was chosen by Lithium Americas to build the lithium refinery at its upcoming Thacker Pass lithium mine, which is extracting this "While Oil" from clay, so settled dust. And Aquatech has the perfect portfolio to take on this 2020s challenge because it tripled down on industrial water and zero liquid discharge since the 1980s - something we'll dive into much deeper with Devesh in today's conversation. 

Finally, I think Aquatech's story is inspirational on many more levels. It's also the tale of a family business, taken to its today's shape and successes by two brothers that were respectively 24 and 14 when they took over. So let me avoid spoiling everything, and leave the floor to Devesh, just after reminding you that if you like what you hear, please take this episode and share it with a friend, a colleague, your boss, or your team, and also don't forget to subscribe.

➡️ Check out the entire article on How Lithium Refining & Water as a Service spark growth for a Family Business on the Don't Waste Water Website

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