CleanTech Due Diligence
C12 Solutions’ process for understanding technology risk
Jason Norman Ph.D.
Founder
!
C12 Solutions

Investing in technology based
opportunities needs to be
approached carefully...

...but with the right
TOOLS

and
PROCESS

we can
manage the
risk

We believe the
process should
be:

Timely

Transparent

Repeatable
Repeatable
Repeatable
Repeatable
Repeatable
Repeatable

and
UNBIASED

C12 Solutions focuses on
!
five
Finances People
Intellectual
Strategy
Property
Technology
key areas

TECHNOLOGY

With over 20 years experience in
industrial engineering

research

and sustainable
product development

we can quickly assess
technical viability

If we need to
dive a little
deeper...

...we use analysis tools in
fluid dynamics
...industrial process simulation...

chemical kinetics...
...and fuel science
...to provide further
clarification
fuel pyrolysis

INTELLECTUAL
PROPERTY

We look at patent information to
ascertain:
activity
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...and develop an
overall LANDSCAPE
of the associated
intellectual property

Further analysis highlights
areas of potential:
Strength
Weakness Threat
Opportunity

This enables us to
determine:
Competitive Technologies
Acquistion Opportunities
Buyers
Partnerships Patent Strength
Other M&A Threats Cross Licensing
Freedom to Operate

Financials

We scrutinize the financial projections
and test major project ASSUMPTIONS...
Efficiency
Cost of Materials
Utilities
Distribution
Scale-up
Tax credits
Regulatory incentives
Carbon credits
IRR’s
Payback

...as well as those associated with
ALTERNATIVE
solutions
Vs. and other key
TRENDS

Strategy

With reference to technology
assessment, strategy
relates to whether the
technology is

L
N TA
M E
RE
Performance
INC
Time
OR...

V E
T I
U P
I SR
Performance
D
PT IVE
DIS RU
Time

We identify an opportunity’s competitive
advantages...
HIGH
x
x x
x x Opportunity
x x
x
LOW
le
e
X
y
X
y
us
lit
ab
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PE
nc
PE
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C
fic
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ai
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We identify an opportunity’s competitive
advantages...and relate them to competitive
...
HIGH
alternatives
o
x I
x I
I
x
I
o
x I x
I Alternative A
o o o
x o o x Opportunity
I x o Alternative B
I
LOW
le
e
X
y
X
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C
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ai
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PEOPLE

We look at the people
from the perspective of
what needs to be done
to move the technology
forward

required capabilities are
determined
Member Member Member Member
Competency ...
A B C D
Process Scale-up
Catalysis
Corrosion
Design
Manufacturing
Partnerships
Env. Permitting
Intellectual Property
Project Management
Commercialization
Piloting

required capabilities are
determined and matched against
those of the team
Member Member Member Member
Competency ...
A B C D
Process Scale-up
Catalysis
Corrosion
Design
Manufacturing
Partnerships
Env. Permitting
Intellectual Property
Project Management
Commercialization
Piloting

To do this, we interview the team and
use various competitive intelligence
techniques to identify:
Professional
networks
associations and
track record

It is through this
analysis

that we obtain...
Finances People
Intellectual
Strategy
Property
Technology
...the BIGGER PICTURE
associated with an investment opportunity

For more information
contact:
Jason S. Norman
201-889-3244
j.norman@c12solutions.com
!
C12 Solutions