Investors Funding & Support$9.2 million in Angel, VC $10.3 million in Canadian && strategic investments US Government funding
Political StuffConservatives will change theGreen Energy ActLiberals will too!FIT rates will drop either way
Lessons Learned• Investors & Project Finance are out there, and yes,in Canada too• Governments can and will help• In both cases: Figure out who, then ask them for advice. “What are you looking for?” Follow up on rejection, learn! Try again!
Lessons Learned• Big players will work with a small company• Get top people on-board early (worry if you can’t)• Early on, their contribution should be easy, low risk& cheap, but NO FREEBIES!• Easier to propose a project than join one.• Time-vampires and needy partners get droppedVERY easily
Lessons Learned• Are your customers really your focus?• Should focus on the bankers, which means: • Show how you’re going to prove your claims. • Don’t avoid talking risks. • Never try TWO new things at once. • Understand project finance, taxes & full costs. Customers are plentiful, customers with money are rare.
There is a demand for “better”• Better = New, but also risky• Cost! “No premium electrons”• Lower LCOE vs. Racing Stripes• But not all racing stripes are equal
OpportunitiesCrowded Markets in Solar:• 10 MW Solar farms• Rooftops• Ground-mounted MicroFIT• Too much focus on “site”• Not enough differentiation• Many 100 kW to 2 MWprojects out there. Finance at smaller scale: More options & less
Opportunities Mother Bear Mother Cat Queen Bee• Many opportunities vs. “my baby”• Most projects fail before they start• So, get to “No” quickly (and often)
Thanks!Nicolas MorganCo-founder & VP Biz Dev416.firstname.lastname@example.org Ordnance St.Toronto, Ontario