Introduction
At a time where droughts are affecting some parts of the United States, every drop of water counts to replenish the groundwater. AquiPor is improving pervious concrete to help cities manage stormwaters and hydrate soils.
We reached out to AquiPor founder Greg Johnson to learn about how he started the company and his plan for the future of his startup.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.
In your own words, how would you describe your company?
AquiPor is developing permeable concrete technologies and engineering solutions to help cities manage stormwater pollution, mitigate urban flooding, and recharge groundwater. Our mission is to provide large-scale green infrastructure solutions to communities.
What inspired you to take the leap and start this company?
Years ago, my cofounder and I recognized a growing problem that cities were having with water pollution, which was the direct result of stormwater runoff. The amount of polluted runoff, wastewater, and even sewage ending up in clean waterways grew every year.
At the same time, I noticed that real estate developers had a pain point when it came to on-site stormwater management. Although developers were required to manage stormwater on their site, the solutions at their disposal were expensive, and they took up a lot of usable space. We knew there was a big market opportunity for a new, permeable pavement that could manage stormwater where it fell and help cities deal with stormwater pollution while also providing usable and functional space. We didn’t know how to create this product, but we are living proof that if “your why is big enough, you will find your how”. Just as we really began to understand the market, we met our technology inventor and the rest is history, as they say.
Who is on your team and how did you come together?
Our team consists of myself and my cofounders, Kevin and Matt. Kevin and I have known each other for what seems like forever! We have been trading entrepreneurial and business ideas since we were teenagers and started a couple of companies together years ago. We met Matt, a P.E., our technology inventor and in-house engineer, in 2014 when we were trying to figure out how to design, develop, and create a new kind of permeable paver. It was probably dumb luck, but I like to think that the universe was conspiring for us to start AquiPor and solve some of these big environmental problems!
What does the competitive landscape look like, and how do you differentiate?
There is a growing number of permeable paving technologies and products in the market today, which is evidence of how quickly the market opportunity is growing. We differentiate ourselves in a few key ways.
For one, our technology is vastly different from incumbent products on the market. Our permeable concrete features nanoscale porosity (making it resistant to clogging), it is precast (expedited construction, easier installation), and it features an extremely low CO2 footprint because it’s not made with regular cement. But the biggest difference between us and these other companies is our business model. We aren’t just making a new product, marketing it, and competing with other technologies for market share. We accompany our permeable concrete with proprietary engineering systems, including an integrated distributed water system for large-scale aquifer recharge.
With these technologies, we can approach the market opportunity as an engineering, procurement, and construction management contractor where we not only provide our technology and engineering solutions on projects but we oversee the full project from start to finish.
How do you intend to use the money you raise this round to scale the business?
If we’re successful with our raise, funds will primarily be used to support our go-to-market strategy and support our early project installations. We’ll also invest in our customer acquisition plan and begin making key hires to build out our engineering team and support staff. Of course, R&D and continued product development are in our ethos, so we’ll invest a good portion of capital in the continued development of our technology, specifically pursuing state and federal regulatory testing such as the National Stormwater Testing and Evaluation for Products and Practices (STEPP), as well as conducting product lifecycle analyses and environmental product declarations.
As you think about the business 5-10 years down the road, what do you see exit opportunities looking like? Have you set any future goals for the company?
Although we may be an acquisition target down the road, I like the idea of accessing the public financial markets and trying to grow it as large as possible. We definitely have goals for the company, which include our first contracts next year and rapid growth in 2025. We also plan to further develop the technology for other markets. Our permeable concrete has some unique attributes (i.e., due to its unique pore structure, it is a catalyst for liquids and gasses) that could open markets well beyond stormwater.
We look forward to seeing where Greg and his team take the company. Aquipor is currently raising on StartEngine
