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©2015 EcoMachines Ventures. All rights reserved
“Cleantech is dead! Long live cleantech!”The future of financing for sustainable innovation
Dr. Ilian Iliev CEO & Founder, EcoMachines Ventures (Moderator)Dr. Rob Wylie Chairman and Co-Founder, WHEB GroupAshley Smith Partner, British Gas Venture CapitalDr. Forbes McDougall Head of Circular Economy, VeoliaFelix Preston Senior Research Fellow, Energy, Environment & Resources, Chatham House
©2015 EcoMachines Ventures. All rights reserved
“Cleantech is dead! Long live Cleantech!” The future of financing for sustainable innovationDr. Ilian IlievCEO, EcoMachines Ventures
15th June 2015 Taylor Wessing LLP
©2015 EcoMachines Ventures. All rights reserved
1. Introducing EcoMachines1. Introducing EcoMachines
©2015 EcoMachines Ventures. All rights reserved
About EcoMachines Ventures
An investment fund focused on seed, Series A/B
investments
Focused on startups in advanced engineering and high-value manufacturing
A highly networked and hands-on approach:
finance, industry experts, corporate collaboration,
multiple locations
©2015 EcoMachines Ventures. All rights reserved
Sectors of Interest
01Power Generation
02Transport
03Circular Economy
04Smart City
05Industrial high-tech
©2015 EcoMachines Ventures. All rights reserved
Technologies of interest
01Robotics
02Materials science
03Power electronics & controls
04Internet of things
05Advanced engineering
©2015 EcoMachines Ventures. All rights reserved
Portfolio
Robots to apply insulation under old houses
Nanoparticles to create superior lubricants
Converting mixed plastic waste into fuel
Energy efficiency in industrial electrical motors
Light-weight, highly efficient engines
Connected car technologies
RotaryEcoMachines
©2015 EcoMachines Ventures. All rights reserved
Locations
Coverage across Europe and Israel.
Presence in:• London (HQ)• Paris• Moscow• Prague• Tel Aviv
©2015 EcoMachines Ventures. All rights reserved
Philip VereyHead of Business Development
Multi-disciplinary team across multiple geographies
Dr Ilian IlievCEO and Founder
Igor TurevskySVP Energy & Power
Dr Oleg EvdokimenkoChairman and co-founder
Investment Committee
Oliver JohnsonAnalyst
Alexey KrenkeInvestment Director
Oksana HilinskayaVP Russia/CIS
Rob SnellgroveAssociate
Max MiddletonAnalyst
Operational Team
Harel BorenHead of Corporate Development
London Moscow Prague Moscow Paris
LondonLondon Tel Aviv London
Flora BaillieMarketing Associate
London LondonLondon
©2015 EcoMachines Ventures. All rights reserved
Why are we bullish on the opportunities in energy & cleantech?
Source: http://www.ritholtz.com/blog/wp-content/uploads/2009/07/cartoon-spin-bull-vs-bear.jpg
©2015 EcoMachines Ventures. All rights reserved
VC in energy and cleantech: is the model keeping up?
The VC environment has been broadly positive in the last few years
...while cleantech investment has moved in the opposite direction
©2015 EcoMachines Ventures. All rights reserved
...yet within sub-sectors, investment trends differ
Source: Cleantech Group i3 database
Cleantech VC and Corporate Venture Investment, Top SectorsPercentage share of dollars invested
Sector share, 2014
©2015 EcoMachines Ventures. All rights reserved
The funding ecosystem has evolved… with more funding sources and greater complexity
SMEs
Corporate VC
VC Funds
Angels
AcceleratorsFamily Wealth Offices
Project Finance
Public grants
Crowd Funding
©2015 EcoMachines Ventures. All rights reserved
Targeted strategies within specific sub-sectors can uncover growth hotspots
E-Waste solutions – spike in innovation
Source: CambridgeIP research, 2015
©2015 EcoMachines Ventures. All rights reserved
The rise of Corporate VC and Open Innovation
Most of innovative activity happens outside of corporations…
Waste Recycling: % patents held by top 30 Companies
… and corporations have responded by huge increase in corporate VC activity
Across sectors $49bn of Corporate VC investment made directly and through 120+ corporate VC programmes…
…our estimate is up to ¼ of these have resource efficiency/ Cleantech angle
GCV (2015)
Source: CambridgeIP research, 2015
©2015 EcoMachines Ventures. All rights reserved
Other factors…
• The ‘bubble’ in Cleantech has already burst• Move towards specific, real solutions for mature
industrial sectors – with real bottom-line benefits to specific users/clients
Bubble inoculation?
• Improved CAD design & simulation, 3D printing/rapid prototyping, and more experienced CxOs can lead to leaner, faster start-ups
• Impact is lower capex and faster time-to-market
Lean hardware start-ups?
• Opportunities for energy/cleantech application areas from well-developed platform technologies in materials science, robotics, IoT hardware
• The application of these to industrial problems can lead to significant value release/capture – and novel business models
Horizontal technologies
impact
©2015 EcoMachines Ventures. All rights reserved
What can we say about Cleantech 2.0?
• Lessons from Cleantech 1.0 – what to avoid, what to repeat?
• The rise of Corporate VC activity – will it compensate for the decline in traditional VC activity?
• Emerging trends and opportunities• Emerging market opportunities… and China• Regulatory trends, opportunities… and threats
©2015 EcoMachines Ventures. All rights reserved
Our panellists
Dr. Rob Wylie Chairman and Co-Founder, WHEB Group
Ashley Smith Partner, British Gas Venture Capital
Dr. Forbes McDougall Head of Circular Economy, Veolia
Felix Preston Senior Research Fellow, Energy, Environment & Resources, Chatham House
Dr. Ilian Iliev CEO & Founder, EcoMachines Ventures (Moderator)
©2015 EcoMachines Ventures. All rights reserved
“Cleantech is dead! Long live cleantech!”The future of financing for sustainable innovation
Dr. Ilian Iliev CEO & Founder, EcoMachines Ventures (Moderator)Dr. Rob Wylie Chairman and Co-Founder, WHEB GroupAshley Smith Partner, British Gas Venture CapitalDr. Forbes McDougall Head of Circular Economy, VeoliaFelix Preston Senior Research Fellow, Energy, Environment & Resources, Chatham House