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Innovation Fund Interview Pitch Case                                                       TM                The Clear Pat...
THE PROBLEM              In the US,              70% of all              electricity is              consumed by          ...
CURRENT SOLUTIONS
OUR SOLUTIONInvisergy has developed a transparent, electricity generating devicethat can be installed with or applied to a...
HOW DOES IT WORK?                      How Energy is Generated                        1. Each window collects            2...
WHAT IS INNOVATIVE?Invisergy’s manufacturing process is truly innovative:• Orders of magnitude reduction in cost• 3x incre...
The Transformative Power of Our Product – Willis Tower Case Study:  Suppose a client installs Invisergy’s PVGU on the wind...
OUR TEAM (PENN-MIT)Technical Development (MIT)          Business Development (Wharton/SEAS) NAME 1                       ...
USE OF IF FUNDS:FOR DEVELOPMENT OF INVISERGY’S 4TH GENERATION PROTOTYPE  $400 - Luminescent Lumogen dyes from BASF  $100 –...
TARGET MARKET
TARGET MARKET
TARGET CUSTOMERS
COMPETITIVE LANDSCAPE
Competitive ComparisonCompany Name                    Invisergy    Covalent Solar     Konarka              Pythagoras Sola...
$25,000,000                                 $20,000,000FINANCIAL                        $15,000,000PERFORMANCE            ...
REVENUE MODEL/PERFORMANCE
THE NEXT 6 MONTHS
KEY MILESTONESJanuary 2012 - Phase II of R&D begins - optimization andimprovement of the product with help from WTH IF.   ...
Q&A
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Innovation fund slide deck invisergy

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Innovation fund slide deck invisergy

  1. 1. Innovation Fund Interview Pitch Case TM The Clear Path to SustainabilityInstructions:• Please review this slide deck from an actual IF pitch for your Spring 2013 IF Interview• You may research whatever you would like on the company but focus on the material in this deck• Be prepared to explain in your interview whether you (as an Innovation Fund investor) would or would not fund this company• You will have around 5-10 minutes to justify your decision• In a normal situation this would be presented to you. If things are unclear from the deck, just do your best! You will never have complete information…
  2. 2. THE PROBLEM In the US, 70% of all electricity is consumed by buildings.
  3. 3. CURRENT SOLUTIONS
  4. 4. OUR SOLUTIONInvisergy has developed a transparent, electricity generating devicethat can be installed with or applied to any transparent surface.Invisergy’s proprietary process involves applying a very inexpensivedye to the surface of the window. This dye redirects light to the edgesof the window where it is harnessed by photovoltaic cells.
  5. 5. HOW DOES IT WORK? How Energy is Generated 1. Each window collects 2. incident sunlight via the luminescent dye. 1. 2. The sunlight then travels 3. to the edges of the window where it is converted into electricity via photovoltaic cells. 3. The electricity is then sent to a central inverter which connects all the windows to the grid.
  6. 6. WHAT IS INNOVATIVE?Invisergy’s manufacturing process is truly innovative:• Orders of magnitude reduction in cost• 3x increase in efficiency• Allows for the use of inexpensive dyes• Maintains standard window installation costs
  7. 7. The Transformative Power of Our Product – Willis Tower Case Study: Suppose a client installs Invisergy’s PVGU on the windows of the Willis Tower (formerly Sears Tower) in Chicago, U.S.A.Approximately 15,000 windows installed.Overall Efficiency of System: 3% Energy Generation: 500 kW = 2.3 acre solar farm!Cost Per Watt = $3/W Pay-back Period = Less than 5 years
  8. 8. OUR TEAM (PENN-MIT)Technical Development (MIT) Business Development (Wharton/SEAS) NAME 1  NAME 3  Penn M&T 09’, MSE & FNCE  Penn M&T 14’ CBE & FNCE/MGMT  Masters in Physics from UK  NAME 4  PhD 1st yr MIT  Penn M&T 13’ MSE & FNCE NAME 2  PhD 3rd yr MIT  Chemistry and Chemical EngineeringAdvisory Board (Wharton/SEAS) NAEM 5 has more than 20 years of experience developing business strategies for emerging companies as well as Fortune 500 clients. NAME 6 has focused his entire career around starting and building emerging growth technology businesses. He is currently CEO of AgileSwitch, LLC.
  9. 9. USE OF IF FUNDS:FOR DEVELOPMENT OF INVISERGY’S 4TH GENERATION PROTOTYPE $400 - Luminescent Lumogen dyes from BASF $100 – Solvent for assembly $100 – Glass to use in 4th generation prototype $100 – Wires for assembly $100 – Epoxy for assembly $200 - CIGS solar cells for the 4th generation prototype ------ = $1000Critical for Invisergy to develop a 4th generation prototype for upcomingcompetitions, like MIT’s 100K, and for us to begin to gather more accurate datato assess system performance.
  10. 10. TARGET MARKET
  11. 11. TARGET MARKET
  12. 12. TARGET CUSTOMERS
  13. 13. COMPETITIVE LANDSCAPE
  14. 14. Competitive ComparisonCompany Name Invisergy Covalent Solar Konarka Pythagoras Solar Sage Glass Type of firm BIPV - LSC BIPV - LSC BIPV – Organic PV BIPV – Silicon Active shadingQuantitative CharacteristicsElectricity generating? Yes Yes Yes Yes No Efficiency (%) 3% 6.8% (projected) 1% 14% NA Power Output (W/ft2) 3 W/ft2 3 W/ft2 1 W/ft2 13 W/ft2 NAWindow size Any Any 26" x 21" 12" x 1" AnyTransparency (%) 70-95% Unknown Low, but unknown 50% 2-100%Qualitative CharacteristicsAesthetically pleasing Yes No, color tinted No, red striations No, bar-like Yes, tintedHighly customizable designs Yes No No No NoPricingPrice per watt $3 Unknown Unknown $10 UnknownPrice per square foot ($/ft2) $10 Unknown Unknown $125 $700Payback Period < 5 years Unknown Unknown < 5 years > 15 years
  15. 15. $25,000,000 $20,000,000FINANCIAL $15,000,000PERFORMANCE $10,000,000 Gross Profit Net Income $5,000,000 $0 2012 2013 2014 2015 2016 -$5,000,000(In 1000s of $) 2012 2013 2014 2015 2016Revenue $0 $0 $159 $12,095 $51,402COGS $0 $0 $144 $8,466 $30,841Gross Profit $0 $0 $156 $3,628 $20,560Salary & Wages $120 $480 $756 $794 $834Operating $193 $397 $98 $109 $120ExpensesOther Expenses $0 $15 $16.6 $833 $5,897Total Expenses $313 $892 $871 $1,735 $6,850EBITDA -$313 -$877 -$839 $2,726 $19,608EBIT -$313 -$892 -$855 $2,705 $19,587Net Income -$313 -$892 -$855 $1,894 $13,710
  16. 16. REVENUE MODEL/PERFORMANCE
  17. 17. THE NEXT 6 MONTHS
  18. 18. KEY MILESTONESJanuary 2012 - Phase II of R&D begins - optimization andimprovement of the product with help from WTH IF. March 2012 - Applications for several grants, SBIR/STTR/ARPA-E, are submitted to secure initial funding.January 2013 – Invisergy looks to receive the required$1,500,000 in funding from an angel or VC. April 2014 - Invisergy makes first sale of its product in the MUSH market in the Northeast U.S.January 2015 - Invisergy penetrates the U.S. commercialmarket for its product. 2016 - Invisergy expands into the residential market and hits $50M in revenue target.2017 - Invisergy begins to apply its product to the retrofittingmarket and looks to further applications of its technology.
  19. 19. Q&A

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