Podcast - pi.today

In his current role as CEO, Riggs Eckelberry reflects on the challenges and evolution of the water industry. Describing it as resistant to change, he highlights crumbling infrastructure and funding issues, particularly affecting large wastewater producers such as breweries. Initially focused on promoting innovative technologies and licensing, Riggs found the slow pace of adoption unsustainable, estimating that it would take 12 to 15 years for widespread adoption.

The turning point came when he recognized the need for a decentralized approach to water, helping companies become self-sufficient in the absence of centralized infrastructure. Decentralization became the company's focus, allowing users to treat their own water and take pressure off the network. This shift was prompted by a realization during the COVID-19 era that led to the idea of investors funding water systems on a "water as a service" basis. This innovative capital program attracted investors who saw the potential in investing in water systems similar to investing in an oil well.

The dual approach of advancing technology and implementing a disruptive capital program led to significant growth for the company. They doubled their business in 2022 and expect to double again this year. Riggs sees this as the beginning of the market domination phase after cracking the code, demonstrating the success of their innovative strategies.