What Investors Want to Know: How Trevi Systems is Tackling the Water Crisis and Building a Sustainable Future

I started Trevi back in 2010 because I was worried about California’s water scarcity, especially for agriculture. Initially, our focus was to clean water for agricultural use, but as we developed our technology, we found that industries with high wastewater output, like oil fields, had a greater immediate need. When oil companies water underground to extract oil, they get a lot of contaminated water in return—sometimes up to 10 barrels of wastewater per barrel of oil. The water is often radioactive, with high salt levels and harmful chemicals. Traditionally, they would either let it evaporate in ponds, which harms the environment, or inject it deep underground, which causes earthquakes. Many regions are now banning deep injection due to earthquake concerns, leaving the oil industry in need of sustainable water treatment solutions. Our technology is able to treat this water efficiently, helping these industries manage their waste more sustainably.

Currently, we’re selling small systems to demonstrate our technology to the oil companies, proving that our solution works and is cost-effective. As we gain more traction, we envision moving to larger systems in collaboration with a manufacturing partner. This would allow us to license the technology and expand our impact in the industry. Long term, our goal is to scale these solutions for broader applications, including agriculture, once we’ve validated our technology on a larger scale.

Lithium is in high demand, especially with the rise of electric vehicles. We’re working on a unique process where we use geothermal brines to generate electricity for data centers and then extract lithium from the leftover brine. These brines contain lithium along with other minerals. With our technology, we can concentrate the brine and remove unwanted compounds, making it easier to extract lithium. However, the viability of this market depends on lithium prices, which fluctuate. If the price is high, this could become a profitable avenue for us, but it requires careful timing and strategic partnerships.

I believe our valuation is realistic, especially when you compare it to similar companies in our space that have gone public at valuations between $500 million and $1 billion. My goal is to IPO Trevi within the next two years, and I see a potential five times return on investment for early backers. While that may not be the 10x returns you see in AI or tech, it’s a solid investment in a company addressing a critical environmental issue. Plus, investing in Trevi means supporting a mission to save the planet through sustainable water management.

My first company, which I started in my garage, grew to a $6 billion IPO, and my second venture had a similar outcome. Through those experiences, I learned the importance of spending money wisely and building value gradually. I’ve also learned the pitfalls of overfunding too early, which can lead to disorganization and diluted focus. In Trevi, we’re being very strategic with our funding, focusing on establishing a clear value proposition and solving core problems for our customers. I believe that starting lean and focused gives us the best chance to grow sustainably and deliver meaningful impact.