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On this week’s episode of the WTR Small-Cap Spotlight, Peter Flippo, Director, Business Development, at Avantium R&D Solutions (Euronext Amsterdam: AVTX-NL) (US OTC: AVTXF), joined Tim Gerdeman, Vice Chair & Co-Founder and Chief Marketing Officer of Water Tower Research, and Peter Gastreich, Energy and Sustainable Investing Analyst at Water Tower Research. Avantium is a technology company founded in 2000 as a Shell spin-out, specializing in innovative chemical solutions. It operates two main segments: Renewable Polymers, which develops sustainable plastics, and R&D Solutions (RDS), which provides high-throughput catalyst testing systems and services for clients worldwide—including oil & gas firms, refineries, and research institutions. Flippo discusses how Avantium’s Flowrence technology significantly accelerates R&D timelines from years to months, offering reliable, scalable, and cost-effective testing. He shared how the company is positioned as a valuable partner in the high-growth sustainable aviation fuel (SAF) industry by optimizing catalytic processes and enabling the use of multiple SAF production pathways.

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Join Tim Gerdeman, Vice Chair & Co-Founder and Chief Marketing Officer at WTR, and Peter Gastreich, Senior Energy Transition and Sustainability Analyst, as they break down WTR’s latest deep-dive report on Gevo including financial forecasts. Gevo is a leading renewable fuels and chemicals company focused on producing low-carbon alternatives to fossil fuels, including low-carbon ethanol, sustainable aviation fuel (SAF), and renewable natural gas. Its integrated carbon strategy features biogenic CO₂ capture and permanent storage, digital carbon tracking via the Verity platform, and modular Alcohol-to-Jet (ATJ) technology. The North Dakota Red Trail acquisition added a profitable ethanol plant, a large and scalable carbon capture system, and prime location for ATJ (SAF) expansion. In the longer-term, third-party CCS and ATJ-30 technology sales are significant drivers.

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In this episode of the WTR Small-Cap Spotlight, host Tim Gerdeman and technology analyst James Kisner are joined by Harrison Gross, CEO of Innovative Eyewear (NASDAQ: LUCY). The company develops smart eyewear—including prescription, safety, and sport glasses—and introduced the world's first smart glasses powered by ChatGPT. Gross explains how voice-based AI has transformed smart glasses from a Bluetooth audio accessory into an always-on AI interface, creating a natural upgrade path for the billion-person eyeglass-wearing population. The conversation covers 65% year-over-year revenue growth in 2025, led by the breakout ANSI-certified Lucid Armour smart safety glass, a competitive moat built on ~110 patents and a cross-disciplinary team with talent from Bose and Luxottica, and how the company's focus on wearability and prescription readiness differentiates it from Meta's camera-centric approach. Looking ahead, Gross identifies retail distribution as the primary 2026 growth lever, with big-box retailer discussions underway and a new white-label business unit in development.

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In this episode of WTRSmall-Cap Spotlight, Patrick Horsman Chief Investment Officer and Josh Kruger Founder of BNB Plus (Nasdaq ticker symbol BNBX), joins host Tim Gerdeman, Vice Chair, Co-Founder, and CMO of Water Tower Research, along with Dr. John Roy, WTR’s Technology Research Analyst. The conversation explores the digital asset treasury company and its focuse on the Binance ecosystem and its native BNB token. The team explains that they chose BNB for its unique status as a deflationary asset tied to the world's largest crypto exchange, offering investors indirect exposure to Binance’s earnings through token burns and "launch pool" air drops. Utilizing their hedge fund backgrounds, the leadership employs four non-directional yield strategies—including staking and automated market making—to target a 9% to 12% annual return for shareholders while mitigating downside risk.

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On this week’s episode of the WTR Small-Cap Spotlight, Corrado De Gasperis, Chief Executive Officer of Comstock Inc. (NYSE: LODE), joined Tim Gerdeman, Vice Chair & Co-Founder and Chief Marketing Officer of Water Tower Research, and Peter Gastreich, Energy and Sustainable Investing Analyst at Water Tower Research. De Gasperis discusses Comstock’s high-volume, zero‑landfill solar panel recycling platform, which recovers 100% of panel materials, including significant amounts of silver, aluminum, and other critical minerals. He outlines the structural shift underway in the silver market driven by accelerating industrial demand from solar, electrification, and advanced technologies, and explains how Comstock is positioned to capture value through recycling economics that blend environmental service fees, low operating costs, and commodity sales. With its first permitted facility in Nevada commissioning, plans to scale multiple recycling sites nationwide, and a strategy to vertically integrate domestic silver refining, Comstock is positioned for strong cash flow growth and long-term leadership in sustainable metals.

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In this episode of the WTR Small-Cap Spotlight Podcast, American Outdoor Brands President & CEO Brian Murphy and CFO Andy Fulmer join host Tim Gerdeman, Vice Chair & Co-Founder and Chief Marketing Officer of Water Tower Research, and Doug Lane, Consumer Analyst at Water Tower Research, to discuss the company’s innovation-driven strategy and growth momentum heading into 2026. The conversation explores disruptive product launches such as the expanding Claycopter platform, American Outdoor Brands’ unique approach to identifying and solving market contradictions, and the growing success of brands including MEAT! Your Maker and Grilla. Management also shares perspectives on tariff mitigation, international expansion opportunities, and how gamification and subscription models are reshaping customer engagement across fishing, hunting, shooting, and outdoor cooking.

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In this episode of the WTR Small-Cap Spotlight, host Tim Gerdeman and technology analyst James Kisner are joined by Nikolas Bullwinkel, Founder and CEO of Circus SE (Frankfurt: CA1). Bullwinkel previously co-founded quick commerce company Flink, scaling it to a multi-billion Euro valuation before launching Circus to bring full autonomy to the trillion-dollar food service industry. The CA-1 robot replaces entire canteen operations in hospitals, airports, and corporate environments—producing 100 meals per hour with integrated AI, sensors, and the proprietary Circus OS software platform. Bullwinkel highlights the company's razor-blade business model, with each robot adding approximately €100k in annual recurring revenue. Defense applications are accelerating as armed forces seek to modernize logistics infrastructure, with Circus's container-based CA-M deploying in minutes versus hours for traditional field kitchens. With 800,000 meals tested, 40 patents, production partner Celestica ramping capacity, and an order book exceeding 500 units, Bullwinkel characterizes 2026 revenue guidance of €44-55M as conservative and outlines a long-term vision for building a global nutrition intelligence platform.

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Our guest for this Flashcast edition is Shawn Severson, CEO and Co-Founder of Water Tower Research, and Head of Market Commentary and Thematic Research. Shawn breaks down his latest research, “The Cost of Equity Pivot: Why Structure Now Matters More Than Rates,” which challenges the traditional small-cap playbook heading into 2026.

While falling interest rates have helped fuel a recent rebound in small caps, Shawn explains why the true driver of the innovation economy in 2026 is the cost of equity, not the cost of debt. He outlines the market’s structural shift from “survival financing” to “growth financing,” why markets are now rewarding solvency over dilution, and how investors should position around clean cap tables, funded innovators, and a barbell strategy as the small-cap equity window reopens.