Opportunities in Cleantech &

Energy

Emma Hemmingsen

Communications Manager & Biz Dev

emma.hemmingsen@morgansolar.com

reVision 2011

March 26, 2011

Cleantech

Bombardier’s solar-powered, high-speed Maglev train. Designed to perform more efficiently and at lower costs.

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010$0.0

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Cleantech VC Investments in North America, Europe, Israel, China, and India (USD $Billions)

Source: Cleantech Group LLC

If You’re Going to Start Up in Cleantech

…it’s actually not that different from starting any other for-profit company.

1x10x 1x 0 0

0 0 0 0 0

Follow The Typical VC Investment Model

VCs make 10 investments• 1 winner, 2 break evens, 7 duds• They want a 10x return, in 3 to 5 years

Show yourself and your investors how you will get your money out.

Except realize that the stakes are higher

Energy Poverty

Thin Film PV Low Cost

Higher Cost

Expensive

Low Efficiency

High Efficiency

Silicon PV

CPV

CPV HOLY GRAIL

High EfficiencyLow Cost

Medium Efficiency

Cost Vs. Efficiency - A Trade Off?

• Multi-junction or III-V cells developed in 1970s for space applications

• Better thermal performance than silicon or thin films

• Potential efficiency of 60%, in clear development path

CPV Has Tremendous Potential

III-V Cells > 40% efficiencyCell Cost < $0.30/ Watt

Current Optics Are The Limitation

Fresnel Lens• Bulky, high precision & expensive• III-V cells in a box with lenses on top

Amonix MegaModule 7700 (Source www.amonix.com)

Light-guide Solar Optic: Low cost, high efficiency concentrating optic

MorganSolar

Fresnel

Investors Funding & Support

$9.2 million in Angel, VC & strategic investments

$10.3 million in Canadian & US Government funding

Plan & Next Steps

• Sell turn-key systems

• Start Certification process - summer 2011

• 450 kW of test sites in 2011

• 5.5 MW/year facility - mid 2011

• Ramp up of 50 MW/year in early 2011

• Leverage success in subsidized markets in the developing world to enter developing

Other examplesIn Canada 12000 kWh/yr/home ÷ 550 kWh/m2/yr = 22 m2/home

10 m2 per home might be enough for energy efficient homes.

5 m2 per home would be a big improvement for African homes.

1. Renewable Energy• Fenix Solar• Tangerine Power (community-funded power)

2. Energy Efficiency (the Nega-Watt)• Opower (community engagement platform)

3. Transportation• Timeshifting commutes & telecommuting• Ride & car sharing• High-speed rail, the Bike Train

4. Smart Grid• Timeshifting appliances --> the Energy Internet• The Desertec Initiative

5. Biofuels (aggregating farmer’s waste) 6. Waste

• Craiglist --> opp. to connect expiring food in similar way7. Connecting people and things more efficiently

• Connect MBAs with inventors trying to get their cleantech ideas off the ground

Cleantech Opportunities

“We need lots of companies working on this. Hundreds. In each of these five paths [nuclear, carbon storage, solar photovoltaic, solar thermal, and wind] we need at least 100 people. And a lot of them you look at and say ‘you’re crazy’. That’s good.”

- Bill Gates’ TED talk on energy: Innovating to Zero! (2010)

Emma Hemmingsen

Communications Manager & Biz Dev

416.203.1655

emma.hemmingsen@

morgansolar.com

Thanks!