Clean Winners! May 10, Richard Youngman MD, Europe & Asia, Cleantech Group. cleantech.com

Transcription

1 Clean Winners! May 10, 2011 Richard Youngman MD, Europe & Asia, Cleantech Group

2 There has been a sharp decline in volume and a distinct diversification in investor fundraising for cleantech Source: 3P Capital Advisors Cleantech fundraising down from $6.5B in 2008 to $1.1B in 2010 Greater geographic and stage spread

3 Compensating a reduction in VC/PE funds has been the rise of the corporation Source: Cleantech Group Steady rise in corporations participating in cleantech VC deals Source: Cleantech Group Increasingly focused on later-stage companies

4 Case Study: Inge AG Acquired by BASF in April 2011 Founded in 2000, established sales office in China by 2003, achieved approx 10 mio of revenues and break-even in VC Investors: Initial round: Emerald & Siemens VC Follow on rounds: Entrepreneurs Fund, Stonefund & Baytech Emerald Technology Ventures achieved 3-4x return. Description: inge watertechnologies AG develops innovative ultrafiltration technologies used in the treatment of drinking water, process water, sea water and waste water. HQ Location: Near Munich, Germany Founded: 2000

5 Case Study: SiC Processing Recovery and processing of sawing slurry in silicon wafer production Revenue growth from 24m in 2006 to 160m in 2010 Majority acquisition (est. value 500m) by Nordic Capital in mid 2010 Approx. 3-4x return for investors (Zouk Ventures, Merrill, Masdar Clean Tech Fund & Frog Capital). 53m in October 2007 Description: SiC Processing provides recovery and conditioning of silicon carbide (SiC) and polyethylene glycol (PEG) contained in the slurry of photovoltaic and semiconductor production. It has production facilities in Germany, Norway, Italy, China and the USA. HQ Location: Hirschau, Germany Founded: 2000

6 Case Study: agri.capital Founded in 2004, has grown to become Europe s largest biogas producer 2009 revenues of more than 100m Majority acquisition by Alinda Capital Partners in March 2011 Approx 3-4x return for Ludgate Environment (first investment Oct 2008) and Frog Capital (first investment Feb 2010) Description: agri.capital turns energy crops, animal waste, and food waste into a methane-rich biogas which is burned to create electricity or cleaned to biomethane and fed into the natural gas network. The fermentation residue is used as a high-quality fertilizer, returning nutrients to the soil. HQ Location: Hirschau, Germany Founded: 2004

7 Case Study: Greenko Listed on LSE (AIM) in Price has quadrupled in the last 2 years One of India's fastest growing Independent Power Producers, founded in turnover increased by 39% to 19.29m; EBITDA up to 7.9m from 6.1m. Cash balances and deposits excluding project finance totalling million (09: million) Description:Greenko Group is focused on developing clean energy assets in India to meet Indian's ever increasing demand for power. Currently the Group operates 183 MW of contracted capacity including 7 hydro, 6 biomass and 1 gas/liquid fuel based plant and has 628 MW of licenses under various stages of development. HQ Location: Hyderabad, India Founded: 2006

8 Case Study: Agro-Generation Listed on Euronext (Alternext) in Turnover has increased x4 since 2009 to 17.6m in EBITDA was 1.8m and Net Profit was 0.9m Part of 2011 s harvest has already been sold at a higher price than 2010 A 700ha pilot project underway in Argentina Description:Agro-generation is focused on the responsible production of agricultural commodities, to reclaim polluted lands in Ukraine. This year the company will cultivate ha on 6 farms and aims to cultivate ha in 2012 by acquiring already identified targets HQ Location: Paris, France Founded: 2007

9 Case Study: The Switch Acquired by American Superconductor for 190m ($265m) in March 2011 Revenue of 134.6m in 2010 (up from approx. 50m in 2008), with 11.8m in net income The Switch shareholders include the employees (25%), PowerFund (32%), StartFund 1 (10%), Vacon (14%) and Semikron (19%). Description: The Switch is a leading supplier of megawatt-class permanent magnet generator and full-power converter packages that effectively capture power from highly variable new energy sources like wind and solar. The technology is designed to deliver reliable, future-proof grid compliance and maximized energy yields. HQ Location: Vantaa, Finland Founded: 2006 (via merger)