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December 2010 - Michigan Energy Forum - Richard Stuebi
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December 2010 - Michigan Energy Forum - Richard Stuebi

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On December 2nd, 2010 the Michigan Energy Forum will present its Year in Review discussion panel and networking event, “Models for Generating New Energy Businesses.” The panel will provide an overview …

On December 2nd, 2010 the Michigan Energy Forum will present its Year in Review discussion panel and networking event, “Models for Generating New Energy Businesses.” The panel will provide an overview of the various clean-tech technologies discussed throughout 2010 and highlight promising points of entry for entrepreneurs and expanding businesses. The panel will discuss the confluence of attractive energy technologies, public policy shifts, and sources of private funding, as well as successful models for generating new business opportunities in the clean tech space. • What were the highlights from the last year of MEF, any updates on panelists? • What have been the most important enablers in terms of technology and public policy that we should be aware of? • What’s being funded, where is the money going? • After being inspired to generate a new clean tech venture, what are my next steps? • For audience and panelists: what do you need from the MEF in 2011 to generate traction?

Published in: Technology, Economy & Finance

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  • 1. CleanTech VC Trends Richard Stuebi Managing Director Michigan Energy Forum December 2, 2010
  • 2. Global CleanTech VC Funding$ billions 9 8 7 6 5 4 3 2 1 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 thru 3QSource: Cleantech Group 2
  • 3. U.S. CleanTech VC Funding$ millions 1400 Env 1200 Energy 1000 Clean Tech Alt Energy 800 600 400 200 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 2008 2008 2008 2008 2009 2009 2009 2009 2010 2010Source: VentureDeal 3
  • 4. 2010 Cleantech VC Investing1st Quarter 2nd Quarter 3rd Quarter Capital ($1.9 billion):  Capital ($2.02 billion):  Capital ($1.53 billion):  Transportation: $704  Solar: $811 million  Transportation: $206 million  Biofuels: $302 million million  Solar: $322 million  Smart grid: $256  Biofuels: $186 million  Energy efficiency: million  Smart grid: $163 $217 million  Transactions (140): million Transactions (180):  Energy efficiency: 31  Transactions (152):  Energy efficiency: 39 deals  Energy efficiency: 24 deals  Solar: 26 deals deals  Solar: 27 deals  Biofuels: 13 deals  Solar: 19 deals  Transportation: 27  Active VCs:  Transportation: 17 deals deals Carbon Trust: 6 deals Active VCs:   Kleiner Perkins: 4  Active VCs:  DFJ: 5 deals deals  DFJ: 4 deals  Braemar, Carbon  Angeleno, DFJ,  Imperial Innovations, Trust, Foundation, Khosla: 3 deals each VantagePoint, Low Good Energies, Intel, Carbon Accelerator: 3 Nth, Rho, Sequoia,  IPOs (19 for $2.31 deals each VantagePoint: 3 deals billion)  IPOs (8 for $430 each Tesla: $226 million  million) IPOs (13 for $1.5  M&A (160) Ameresco: $87 billion)  million NASDAQ  Sensata: $569 million  Amyris: $85 million NYSE NASDAQ M&A (197)  M&A (139) Source: Cleantech Group 4
  • 5. Increasing Later Stage % of total capital invested 2002 1H 2010 Early-Stage Follow-OnSource: Cleantech Group 5
  • 6. Average Round Size 1Q 2009 2Q 2010 Early-Stage $7 million $4 million Follow-On $14 million $22 millionSource: Cleantech Group 6
  • 7. Closing Observations Midwest is different:  Most cleantech VCs are coastal  Midwestern VCs more conservative Business fundamentals drive investor interest:  Capital efficiency to breakeven  Evidence of customer acceptance  Soundness of economic value proposition  Not too reliant on regulatory drivers  Entrepreneur and team  Other investors “around the table” 7
  • 8. Contact Information Richard Stuebi Managing Director Early Stage Partners 1801 East 9th Street, Suite 1700 Cleveland, OH 44114 (216) 781-4600 www.esplp.com rstuebi@esplp.com 8