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Schipholweg 275 1171 PK Amsterdam The Netherlands +31 20 453 0777
Cleantech made in the Netherlands
Dr. Peter van Gelderen ICOS Capital
Ecosummit – Neuss
15 november 2012
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ICOS CAPITAL – PORTFOLIO COMPANIES
ICOS Capital: investor in industrial clean technologies
ICOS CAPITAL – CLEANTECH VENTURE CAPITAL
§ Founded in 2006 by an experienced venture capital team
§ Around € 75 million under management in 9 cleantech companies
§ Collaborative corporate venturing (corporations, universities, governments)
Anti bio-fouling solutions
Waste to energy conversion
Cloud computing Water from air using wind energy
Metal recovery from scrap
Hazardous waste smelting to energy
Bio-based chemicals Healthy food ingredients
High througput screening tools
energy recycling green building food bio-chemicals mobility
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ICOS Capital: building companies from early stage, through pilot plants to full scale
Technology Pilot scale Full-scale
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Cleantech made in the Netherlands: where is it at?
Source: Roland Berger – Clean Economy, Living Planet (2012) Note: absolute ranking, in terms of cleantech manufacturing in relative ranking, Netherlands’ position is 21st
Cleantech in the Netherlands • Somewhere in the middle of the crowd Sectors • Decline of 14% in 2011 (2012 even worse?)
• wind (offshore -60%) • solar PV (+6%) • biofuels/biogas (0%)
• 54% of consumers adopted green power (!) • many promising technologies in development
Government • decreasing involvement • part of general innovation policy
Corporates • open innovation policies • international mind set Start-ups • very active entrepreneurial climate
“glass half full or half empty”
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Cleantech made in the Netherlands: a lot is happening & more to come
Rotterdam – Delft Cleantech Delta industrial cleantech energy, chemicals, mobility, bio-based
Overijssel Energy Fund € 250 mln project financing (all energies, but not wind)
Limburg Energy Fund € 20+ mln private, project & company financing
Groningen, Friesland, Drenthe Energy Valley energy infrastructure
Eindhoven area high tech materials, cleantech chemicals, electronics, lighting
Gelderland Innovation Fund € 100 mln, incl. energy & cleantech
Bergen op Zoom area green chemistry
Amsterdam Energy Fund € 45+ mln project & company financing
Green IT Amsterdam
Disclaimer: this overview is probably far from complete!
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Investment Advisory Committee"
ICOS CAPITAL!
Corporations active in different cleantech areas"
Dutch Rainmaker"Biaqua"
Ensartech"
i-res"
Resteel"
Water!
Energy!
Materials!
Bio-based! Photanol" Microdish" Bio-Actor"
Due diligence! Realization!Development!Investment!
Spin-outs from !large companies!
Spin-outs from !universities!
Young entrepreneurs!
Growth!
Supporting innovation in cleantech areas!
Exit to new owners!
Industry advisors
board!
Greenclouds"
WATER" MATERIALS"ENERGY"
Banks" Subsidies" Other investors"
Structured process led by experienced investment managers!
Support at
request!
BIO-BASED"
ICOS Capital: collaborative corporate venturing model
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Ensartech has developed a waste smelting solution, based on proprietary, metallurgic technology that transforms hazardous waste into energy and clean products
nsartech�closing the environmental cycle
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Sourcing Quick Scan Project under Review Due Diligence Final Investment
Proposal
ICOS was approached by a team of scientists and waste market professionals
ICOS jointly with founders started sourcing bank financing and co-investor
External advisors led technical and IP due diligence
Imtech appointed as lead EPC contractor
Deal closed: 10 M debt financing 3 M equity
Corporations
ICOS Capital
Imtech & Purac were closely involved to validate technology and potential industrialization
Imtech & Purac were involved in screening, and supported next steps
Extensive discussions between Imtech, Ensartech and Icos to ensure strong implementation
Ensartech - from prototype to market with support and involvement of corporations
ICOS Industry advisors (former CEOs in the sector) advise on strategy, operations and business model
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Innovation screening and pre-qualification
Structure and arrange appropriate financing
Collaborative���Corporate ���Venturing
Target high ���returns
Market access
Contributes core expertise like building plants
Helps to make���products���
from Ideas
„You can’t fool them“
Innovative idea ���on waste smelting
Limited expertise in ���project financing
Limited experience in ���building large plants
Ensartech - how collaborative corporate venturing can speed up cleantech success
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Thank you for your attention
Peter van Gelderen
ICOS Capital – rolling out our model in Germany and the rest of Europe
