Bill Brown

CEO, New Waters Capital

Bill Brown leads New Waters Capital LP, an investment firm built on the view that conventional market methods capture only a narrow band of the information embedded in modern economic systems. New Waters’ core framework, the Cube, maps how capital, technology, energy, infrastructure, and market structure connect. It identifies public-market investments and, where the firm has unusual domain expertise, reveals missing-company spaces: sectors where the economy needs a business that does not yet exist.

That company-building work begins with C5: a new architecture for integrating power generation and data center operations using existing technologies and without requiring either industry to change its core operating model. C5 reflects Bill’s broader focus on turning physical-system constraints—power, heat, carbon, water, reliability, and capital cost—into investable operating platforms.

Bill is also a strategic advisor to the National Lab of the Rockies (formerly NREL), where he helps build international partnerships to accelerate energy-system transformation.

As co-founder of 8 Rivers Capital, Bill helped develop and commercialize breakthrough technologies across power generation, carbon capture, hydrogen and ammonia production, and water systems. At 8 Rivers, he was an inventor on dozens of patents, including foundational intellectual property for the Allam-Fetvedt Cycle, a high-efficiency oxy-combustion power cycle designed to produce dispatchable, low-carbon electricity from natural gas, biomass, and other fuels while capturing the CO₂ stream. He co-founded NET Power to license and deploy the natural-gas version of that technology.

Earlier in his career, Bill was a professor at Duke University and spent two decades on Wall Street and in law, including senior roles at Morgan Stanley, AIG, and Goldman Sachs, and as a partner at Sidley Austin. He holds two degrees from MIT and a Juris Doctor from Duke University School of Law.