Water Works Who says entrepreneurial success and environmental conservation can't go hand in hand? Certainly not this pair.

For most, water scarcity spells potential disaster. For Trevor Hill, 43, and Leo Commandeur, 47, it simply spelled potential. In 2003, they founded Global Water Resources, a water and wastewater utility that makes good with the old by reusing residential wastewater. They strategically established roots in Phoenix--an area where water was lacking, regulations were high and growth was booming. Since then, Global Water Resources has secured service territories representing 1.25 million future homes and devised a model that's replicable worldwide. Projected 2008 sales are $30 million.

Thanks to previous experience in the water industry, the duo knew that success meant having a three-part growth plan: Buy utilities where growth will occur, expand their service territory through key partnerships and apply their water conservation methods. "We set out to build a utility where we knew water would be a concern one day," Hill says. And doing it in an environmentally responsible way has their bottom line seeing green. "We've tried to be the place where tree-huggers and venture capitalists meet," says Hill. "We can show hard-core venture capitalists how to make money in a purely environmental business."