Terra Prima Partners - Investing in Sustainable Solutions that WILL change the world

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Terra Prima is a venture capital and private equity firm that helps entrepreneurs turn breakthroughs within emerging Renewable and Sustainable Life and Physical Science Technologies into world-changing businesses.

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Terra Prima Partners - Investing in Sustainable Solutions that WILL change the world

  1. 1. A N I N T R O D U C T I O N
  2. 2. INVESTING IN SUSTAINABLE SOLUTIONS THAT WILL CHANGE THE WORLD 2
  3. 3. OUR VISION Terra Prima Partners is a Private Equity firm that helps entrepreneurs turn breakthroughs in the impact sectors: into game changing businesses that will change the world. • Energy • Resource Efficiency • Water • Life Sciences • Sustainable Agriculture • Infrastructure 3
  4. 4. THE OPPORTUNITY Increasing population and consumption is driving up global demand for food, energy, water and health solutions Unprecedented demand and urgency is driving innovation, investments and breakthroughs. Capital and expertise is needed now more than ever. 4
  5. 5. 0 175 350 525 700 1970 1980 1990 2000 2010 2020 2030 2040 2050 “It takes 1,000 tons of water to make one ton of grain and 7 tons of grain to produce one ton of beef. Population, Calories & Consumption POPULATION AVERAGE CALORIES PER PERSON FEED GRAIN NEEDED - All Indexed back to 100 in 1970 5
  6. 6. Shrinking arable land 0 2 5 7 9 1950 1987 Today 2040 Population in Billions Arable Land in hectares / person Population Arable land 1950’s 2.5 Billion 0.4 hectares p.p. Today 7.1 Billion 0.2 hectares p.p. 2040 9.3 Billion ?? 30% of the world's arable land will be unusable by 2020 50% may be unusable by 2050 6
  7. 7. Water scarcity 1 billion people lack enough water to simply meet their basic needs. ~ World Health Organization 4,100 kids will die TODAY from water related diseases We are extracting fresh water at rates up to 100 x the natural replenishment rate. Already 1.4 Billion people (20%) live in areas where the limits of sustainable water use have already been reached and 80 countries are reporting water shortages 7
  8. 8. Energy Consumption 1965 2000 2035 Source BP Energy Outlook 2035 Energy consumption by region • Primary energy demand set to increase by 41% between 2012 and 2035 • Growth almost exclusively from emerging markets • Key sectors will focus on industrial energy efficiency, agriculture, transport & infrastructure optimization • Renewables, shale gas, tight oil and other new fuel sources in aggregate grow at 6.2% p.a. and contribute 43% of the increment in energy production to 2035. Energy technology is a key investment theme 8
  9. 9. Infrastructure investment will Global Population Growth 7 billion people today growing to >9 billion + by 2050 Environmental Impact A focus on replacing dirty generation with low-emission sources Urbanization Urban dwellers account for more than half of China’s population Funding Gap Cumulative global infrastructure spending 2013 – 2030 is est. at $57 trillion Aging Infrastructure Average age of government operated infrastructure in the USA is 25 years Emerging Markets China will spend an est. $11 trillion on infrastructure over the next 20 years drive global growth 9
  10. 10. KEYS TO SUCCESS With offices in New York, Boston & Toronto, associates in Europe, the Middle East & Asia, our network of thought-leaders and decision- makers in emerging technologies is unparalleled. We believe that our access to proprietary intelligence from our network, COMBINED with our experience in building businesses gives our portfolio companies a pronounced competitive advantage 10
  11. 11. Our Advantage One core mission 4 totally committed partners 100+ years of experience in building businesses and delivering value 1500+ investments made by this team 100% commitment to our mission plus the desire to do good, give back and add value at every step 11
  12. 12. opportunities, business insights and global access derived from 100 plus years of our own entrepreneurial experience WE WORK WITH THE BEST OUR CORE MISSION UNITES US The Terra Prima team strives to build win-win relationships with our entrepreneurs by leveraging the 12
  13. 13. WE SEEK INNOVATION THAT WILL CHANGE THE WORLD + E X E C U T I O N 13
  14. 14. WE SEEK INNOVATION IN THE FOLLOWING: Nanotechnology (bio and material), Clean Water Technology and Real Assets, Water Conservation and Treatment, Clean Power Technology & Generation, Energy Efficient Infrastructure Distributed Energy Storage, Renewable Power Services, Transportation, Materials, Recycling & Waste, Next-Generation Transportation Sustainable Agricultural Technology Health & Life Sciences TOGETHER, WE CAN MAKE A DIFFERENCE WE WILL CHANGE THE WORLD 14
  15. 15. OUR TEAM 15
  16. 16. THE FOUNDERS ANRIC BLATT Co-Chairman DR. JILL WITTELS Chief Technology Officer LAURALOUISE DUFFY Chief Operating Officer JOSEPH DUGGAN Co-Chairman committed dedicated partners determined to make a difference 16
  17. 17. • Focused on fund operations, finance, business management, compliance, regulation • Day to day management of corporate entities, banking relationships • Oversight & management of fund structures, cash management, NAV’s, Investor reporting & service provider performance • Focused on evaluation, comparison and stress testing of technology, engineering & process • Deal flow, sourcing and developing investment opportunities • Board representation ORGANIZATION • Focused on fund management functions, fund structuring, portfolio construction, • Negotiation with service providers, distributors • Marketing, sales and business development • Macro & quantitative research • Investment due diligence • Focused on investment management process with portfolio companies • Coordinating with attorneys, due diligence, accounting , valuation metrics • Negotiation of investment structure and closing documentation   • Developing exit strategies and follow on financing for portfolio companies JOSEPH DUGGAN Co-Chairman ANRIC BLATT Co-Chairman Working with entrepreneurs, portfolio companies, boards and management to unlock value and create incremental value, exits and deliver sustainable returns to investors and partners DR. JILL WITTELS Chief Technology Officer LAURALOUISE DUFFY Chief Operating Officer 17
  18. 18. JOE DUGGAN - Founder & Chairman of The Belair Group of companies - Kingsdale Capital Corporation - Counsel Capital Corporation - CIBC Securities - Chemical Bank Proven entrepreneur in financial services Experienced investor, business builder, investment banker and team builder CO-CHAIRMAN 30 year track record in all aspects of investment banking, including venture capital, merchant banking, project finance. 18
  19. 19. ANRIC BLATT - Founder and Chairman: Global Fund Exchange Group - Founder, CEO and CIO - Infiniti Capital AG - Director - Infiniti Capital Partners PLC - Director - Forsyth Partners - Regional Director - Kenmar Global Investments - Portfolio Manager - Horwath Financial Experienced business builder, fund manager, macro investor in emerging markets, commodities, energy, water, agriculture & scarce resources CO-CHAIRMAN 20 plus year track record of building asset management businesses 19
  20. 20. JILL WITTELS, PHD - CEO, Sostenuto Strategic Advisors - Founder & Strategic Advisor, Owl Biomedical - L-3 Communications - Innovative Microtechnologies Inc. - DOE’s Fermi National Accelerator Laboratory Highly acclaimed and regarded engineer, scientist and business executive. BSc & PHD from MIT Chief Technology Officer 35 year track record of commercializing technology and building companies 20
  21. 21. LAURALOUISE DUFFY - Partner & CEO , Global Fund Exchange - Director & Co-Portfolio Manager, Earth Wind & Fire Fund, AquaTerra Fund - Partner & COO, First New York Securities - Managing Director, EGS Securities - Managing Director, Croesus Capital Management - Partner & COO, Argonaut Capital Proven background and hands on experience in numerous fund management businesses Chief Operating Officer 23 years operational experience running operations, due diligence, administration and compliance of fund management businesses. 21
  22. 22. MANAGING DIRECTORS Peter FusaroJohn Wisniewski Robert Ferri Senior private equity, infrastructure and energy investment manager with deep experience in the oil, gas & power generation sectors. Experienced in developing and negotiating energy and infrastructure deals all over the world. 18 years of energy industry experience in the broader infrastructure space. Previously, John was a fund manager & director of Infrastructure Investments at Arcapita Bank, Bahrain. Prior to this he worked for ExxonMobil and has experience in LNG, pipelines, power generation, water treatment, district cooling. Chief strategist for clean energy, natural gas and water technology initiatives. He has been involved in the launch and expansion of some of the world’s most successful and game changing technologies of our time. Peter is a professor at Columbia University teaching renewable energy project development and finance. He is on the advisory board of both the University of Michigan’s Erb Institute for Global Sustainable Enterprise and Bard College’s MBA in Sustainability. He co-founded the Energy Hedge Fund Center in 2004 Since 1997, Robert Ferri has been co-founder, director or shareholder- advisor of two-dozen private companies and served as strategic counsel to 75 publicly traded companies. He has managed initiatives to enable approximately 50 significant public-market transactions. He frequently assist in the re- architecting of companies in transition, whether they are in high- growth, turnaround or resurgent stages. 22
  23. 23. MANAGING DIRECTORS David MurrinDr Xingxing Liu, PhD Joseph Endoso Dr Liu has a long and distinguished career as a professor and consultant in China and the United States. He has been a professor at Beijing University and the Cadre College of Central Government and a consultant at Monitor Company. 10 years ago, he founded Beijing Wayland Consulting Company. LiuDr. Liu is an independent director on the boards of directors of a publicly- listed Chinese chemicals company and a mutual funds company. He is also an expert member of the evaluation commission of the Chinese SEC. David Murrin has spent the past 25 years in the world of financial markets. From 1986 to 1993 he joined JP Morgan’s first European Prop desk. In 1993 he founded Apollo Asset Management, and in 1997 he co- founded Emergent Asset Management. As CIO he was active in the firm's private equity business, he co-founded Emvest, Emergent's African land fund and is an active investor in global agricultural markets. David is a highly acclaimed speaker, commentator and author of “Breaking the code of History” Joseph Endoso is the founder of the RedBridge Group, a boutique firm specializing in cross-border equity private placements and M&A/ corporate finance advisory, focused raising capital and finding strategic partners in Asia and the Middle East. Previously, Joe was MD of Technology Investment Banking and Global Head, Semiconductors, for ABN AMRO; MD Technology Investment Banking — IBJ Securities; General Partner for IBJ Strategic Investments; and Senior Vice President—US Energy, Utilities & Project Finance, for Fuji Bank Securities. 23
  24. 24. MANAGING DIRECTORS Carl Safina, PhD Conservation pioneer and MacArthur fellow, Dr. Carl Safina, we show how nature, community, the economy and prospects for peace are all intertwined. He has a PhD in ecology from Rutgers University, is the author of six books, and more than a hundred scientific and popular publications on ecology and oceans, including featured work in National Geographic and The New York Times. Dr. Safina co-founded Blue Ocean Institute in 2003. He now works mainly to help highlight and explain how the ocean is changing and what that means for wildlife and for people. Safina lectures extensively in the United States and is author of over one hundred publications. His books include Song for the Blue Ocean, Eye of the Albatross, Voyage of the Turtle, Nina Delmar: The Great Whale Rescue, The View From Lazy Point: A Natural Year in an Unnatural World, and A Sea in Flames: The Deepwater Horizon Oil Blowout. His new TV series, Saving the Ocean, premiered on PBS in April 2011. Carl Safina's conservation work has been profiled in the New York Times, on Nightline, and in the Bill Moyers television special "Earth on Edge." He is a recipient of the Pew Scholar's Award in Conservation and the Environment, the Lannan Literary Award for nonfiction, the John Burroughs Medal for literature, the National Academies Communications Award, Chicago's Brookfield Zoo's Rabb Medal, and a MacArthur Prize. Carl Safina is an adjunct full professor at SUNY's Stony Brook University (SBU) in the School of Marine and Atmospheric Sciences. He also teaches in SBU's innovative Center for Communicating Science as a visiting professor. 24
  25. 25. ★ Immediate need is to reach $2M of total need of $10M. ★ Seed investors already put in $400k ★ LOI from strategic partner for $1.3M for Series A ★ Two current investors have agreed to additional $450k for Series A INVESTMENT Value Proposition: provides small molecule drug manufacturers tools for dramatic cost savings combined with significant time reductions and higher product quality. ★ Process time reduction from 300 to 43 days. ★ Unit operations reduced from 21 to 13, Excipients reduced from 5 to 2 ★ Ratio of input to output reduced from 25-100 to 15 ★ COGS (Capex + OpEx) reduced 30%, Footprint reduced 10x. IP: Core Technology developed at MIT; AAAAA has license for world wide rights except for Novartis. Company: Sector/Subsector: IDEAS AAAAAA Pharmaceuticals, Boston, MA Health/Pharma IP/BREAKTHROUGH ★ “in-house outsourcing”. Still being socialized. ★ Roadmap to market starts with each customer with a Design Phase: select the product; lab validation as needed; complete simulation; proposal to go forward. ★ Next phase is a joint project with the customer to build a non-GMP unit ★ Final phase is full GMP implementation. BUSINESSMODELMATURITY 25
  26. 26. ★ Provides dramatic savings when combined with both old and new technologies for generating cooled air for building environments ★ Units can be retrofitted to existing HVAC systems, or built into new ones ★ Partnered with a major US supplier/manufacturer/installer of HVAC systems ★ Company would be the exclusive provider of the cartridges. ★ Successful demonstration projects in Israel and in Texas ★ US Market for equipment & cartridges in the $1-10B range. INVESTMENT Value Proposition: Significantly reduces the cost to cool (and somewhat less so to heat) buildings by cleaning the air of CO2 and VOCs (volatile organic chemicals) thus eliminating most of the 10-20 air flushes of the building per day. The unit fits into rooftop HVAC systems, and the filters cartridges are the razor blades. ★ Can reduce electricity costs up to 50% ★ Can substantially eliminate introduction of outside pollution. ★ Failsafe reverts to existing operational mode. Core Technology developed in Israel, IP from MIT AND DOE, sorbent IP from DOE and USC. Founded 2010 Company: Sector/Subsector: IDEAS BBBBBB, NEWTON, MA Energy/Building Operations IP/BREAKTHROUGH ★ $1.4M raised 2011, post money value of $4.1M ★ $0.5 added Feb 2013 ★ was seeking $2-3 M Series B. ★ Expected break-even in 2015. MATURITYBUSINESSMODEL
  27. 27. INVESTMENT Provides significant reduction in costly destructive events on transmission lines; increased ability to manage efficiency (lower cost) use by end customers Provide the Electric Power Industry with the information and analysis they are currently lacking to permit: ★ Energy efficiency through improved measurement/management of transmitted/distributed power  ★ Network security ★ The information required to react in time to prevent destructive events at substations. ★ Lower capital equipment costs. Core Technology licensed exclusively from the US Naval Research Lab; continually filing significant IP based on design and application. Company: Sector/Subsector: IDEAS CCCCCCC, WASHINGTON, DC Energy/Transmission IP/BREAKTHROUGH ★ Equipment sales of products include High Voltage EPC (Electrical Phenomena Cluster), GPC (Geomagnetic Phenomena Cluster), APC (Acoustic/Vibration Cluster), TSC (Temperature/Strain Cluster), High Performance Microphone/Acoustic Array. ★ High Performance Monitoring [Intelligent Distribution Transformer] (probes+electro-optics+A/D +base processing) measures temperature, pressure, acoustics, strain, current (via magnetic field), voltage (via electric field) ★ Data collection and eventual sale ★ Eventual management platform ★ No direct competitors ★ Partnership with Bonneville Power Authority BUSINESSMODEL ★ Company has significant runway in product expansion in existing market as well as products for new markets. ★ Delivery contracts expected in 2014; plus additional demo/field trials. MATURITY 27
  28. 28. INVESTMENT Value Proposition : ★ Provides grid managers with meaningful real-time demand side throttle while assisting frequency stabilization; end users realize cost reductions. ★ Assists especially with management of episodic renewables like wind. IP: Developed in house. IP: Sophisticated, high speed, real time modeling and forecasting capability to take advantage of electricity demand and pricing Company: Sector/Subsector: IDEAS DDDDDDD, Boston, MA Energy/Grid Management IP/BREAKTHROUGH Four Revenue Streams ★ Energy arbitrage to deliver low cost power to residential customers ★ Management of their furnaces to decrease total energy use. ★ Grid service agreements for Ancillary Services ★ Agreements with wind producers to use their power for customers when they are shut off from the grid. BUSINESSMODEL ★ Ran first pilot project winter 2012-2013 in Pennsylvania, which also brought in first revenue ★ Winter of 2013-2014 completed additional pilot projects in • Maine • Dublin, Ireland with SSE/Airtricity • Likely Germany: A Draft agreement for German pilot sponsored by CLENS, Stiebel, and Wuppertal Stadtwerke ★ $0.2M Revenue in FY2013; projecting $1.4M in 2014 ($750k under contract). ★ Raising a bridge now European Strategics are interested once they have the results of the recent pilot projects ★ Once bridge is complete, seeking $4-5M by Q3 2014 MATURITY 28
  29. 29. INVESTMENT Value Proposition: Uses cyanobacteria to grow sucrose for manufacture of biofuel ethanol and chemicals cheaper than through agriculture, without the use of arable land, and recaptures CO2 from the atmosphere. Complements agricultural production with steady, predicable source. IP:  Both the sucrose production process and the bioreactor for growth are owned by the company ★ Completed lab scale testing, Completed 3 months of greenhouse testing in CA and IL ★ Pilot program in FL: indoor testing with 1meter reactors; outdoor with 5 meter reactor which has been up and running for 3 months. Over the course of 2014 they will up the output to commercially viable levels, beating surgarcane and corn costs by the end of 2014. ★ Next step is outdoor demo adjacent to sugar mill or other CO2 source. Company: Sector/Subsector: IDEAS EEEEEE, NJ Energy/Agriculture/Biofuels IP/BREAKTHROUGH ★ Work with strategic partners to set up production plants associated with end use of the product. ★ Finance plants and set product – sugars - in a b-to-b model Competition: ★ Agricultural waste for ethanol production. ★ Food products for ethanol production. BUSINESSMODEL ★ $9M raised to date; last close Dec 2012 $10.75M post. ★ $2.5M bridge to Series B with 15% discount, 8% interest was converted to Series A-2, with post valuation of $13.6M. ★ Raising a new bridge of $2M with 25% warrant and 10% interest to carry to Series B. ★ $15-20M series B will be raised by year end 2014; Braemar, Cultivian, Middleland and Battelle all will participate. MATURITY 29
  30. 30. INVESTMENT Value Proposition:  Real-time on the road emulsification of water with diesel fuel produces ★ IP: Miniaturized Cavitation Process for fuel/water mixing..  Filed in the US and filing in Europe ★ Improves fuel economy, horsepower, and torque 20% to 30%, ★ While reducing emissions by over 15%. Company: Sector/Subsector: IDEAS FFFFFFF, Michigan, MI Transportation/Efficiency IP/BREAKTHROUGH ★ Sell hardware, starting with fleet operators. ★ Expand to Europe ★ Expand to other diesel road vehicles. BUSINESSMODEL ★ $3.6M invested since Feb 2012 ★ Zurich Bank is providing purchase order financing ★ $800k to extend their seed round. Valuation of $10M. ★ Expects to be profitable in 2014. ★ Likely will need a series A. MATURITY 30
  31. 31. INVESTMENT ★ Licensed key technology exclusively for these markets form Swiss pump manufacturer; ★ Filed additional IP for reformulation of standard drug. ★ Value Proposition: Significantly reduces the cost to provide care to patients requiring fluid reduction (first application) and major antibiotics (second application); drug/device combination using well-established drug and new delivery device. ★ Reduces hospitalization – re-admissions in particular, and associated Medicare penalties. Company: Sector/Subsector: IDEAS GGGGGGG, Cambridge , MA Health/Patient Management IP/BREAKTHROUGH ★ Two-component design is razor/blade model. ★ Same device can load from standard drug vile; safety features included. ★ Distribute and commercialize as pharmaceutical using established wholesalers. ★ 8-10x COGS pricing. ★ FDA agreement for relatively quick approval based on drug level in blood. BUSINESSMODEL ★ First full devices being produced April 2014. ★ Pump – key device - in production for other application/markets. ★ First product is for Furosemide – 2016 launch. ★ Second product is for Cefriaxone – also 2016 launch. ★ $950k prior to Jan 2014 - seed money all as convertible note. ★ Needed $3M to reach Clinical Stage company in Q2 2014 and $6M to reach Furosemide NDA submission in 1Q2015. ★ Closed on $16M in March 2014 from 5am and Lundbeck Ventures. ★ If not sold by 1Q 15, may need another $10-15M to pass break even. MATURITY 31
  32. 32. MACRO to MICRO We actively seek out investments in ‘must outcome’ sectors / industries essential to the continuation of human life, like sustainable agriculture, water, energy, utilities, infrastructure and medical & health related industries. A disciplined approach will always prevail. We seek out visionary entrepreneurs and technologies Focus on emerging technologies that will effect fundamental change 32
  33. 33. CONTACT OPTIONS + 1 212 888 7157 http://www.linkedin.com/company/terra-prima-partners-llc feed://www.terraprimapartners.com/resources/blog/ https://www.facebook.com/TerraPrimaPartners https://twitter.com/TerraPrimaLLC www.terraprimapartners.com/resources/blog/ 33

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