Investing Growth Capital in the German Cleantech Sector


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Investing Growth Capital in the German Cleantech Sector

  1. 1. Investing Growth Capital in the German Cleantech Sector<br />Mountain Cleantech AG<br />13. November 09<br />
  2. 2. Disclaimer and Confidentiality<br />The elements contained in this document have been prepared solely for the purpose of information and do not constitute an offer, in particular a prospectus or any invitation to treat, buy or sell any security or to participate in any investment strategy. This Document is not an offer to acquire shares nor is it a Prospectus, nor a Private Placement Memorandum. Investments may be suitable for private investors only if they are recommended by an authorized self-employed or a professional employed adviser acting on behalf of the investor on the basis of a written agreement. This document may contain unaudited third party information. While particular attention has been paid to the contents of this document, no guarantee, warranty or representation, express or implied, is given to the accuracy, correctness or completeness thereof. Any information given in this document may be subject to change or update without notice. Neither Mountain Cleantech AG, nor Cleantech Invest AG, nor Mountain Cleantech Fund, nor any of their officers, directors or employees can be held direct or indirect liable or responsible with respect to the information and/or recommendations of any kind expressed herein. This document and information contained herein is confidential and must not be copied, reproduced, distributed or passed to any person at any time without our prior written consent. Any claims arising out of or in connection with the terms and conditions of this disclaimer are governed by Swiss law.<br />
  3. 3. Mountain Cleantech AG<br />Mountain Cleantech AG – Overview<br /><ul><li>Longest established dedicated Cleantech team in German-speaking region
  4. 4. Fund #1 since 2007, Team is now launching its Fund #2
  5. 5. 100% native German-speaking local investment team
  6. 6. Existing high quality late stage portfolio of 6 investments with aggregate revenues</li></ul>of EUR &gt;320m in FY 2008<br /><ul><li>Late stage focus allows for low technology risk, short exit windows, </li></ul>high IRR potential<br /><ul><li>Over 500 projects / deals reviewed by Mountain Cleantech team p.a.
  7. 7. Germany #1 region for Cleantech world-wide</li></li></ul><li>Mountain Cleantech TeamOrganizational Chart<br />Team has been working together for several years<br />Management<br />Jürgen F. HabichlerManaging Director<br />Alexander von HuttenManaging Director<br />Advisory Board<br />Investment Team<br />Daniel G. Koppelkamm Investment Manager<br />Felix JanßenInvestment Manager<br />Gabriel J. MeurerVenture Partner<br />Dr. Günter SchneiderAdvisory Board<br />Dr. Arno StrehlerAdvisory Board<br />Research AnalystDeal Support<br />Markus P. SteblerAdvisory Board<br />Research AnalystDeal Support<br />Back Office and Infrastructure supplied by Mountain Partners Family Office<br />
  8. 8. Cleantech Investing in Germany<br />Growth Capital in German Cleantech – <br />The Opportunity<br />
  9. 9. Cleantech Investing in Germany<br />Cleantech Pioneer<br />
  10. 10. Cleantech Investing in GermanyGerman Clean Energy Political Framework<br />Germany’s Cleantech position is based on a longstanding favourable political framework<br />Extract of German regulations:<br />2003Implementation of the Water Framework Directive<br />2001Promulgation to promote processing of waste oil into base oil<br />2004Renewable Energy Sources Act entered into force on 1. August 2004<br />2009Heating Energy Act, with renewed and widened support and broadened eligibility for programs <br />2009Revising the Renewable Energy Sources Act in the Electricity Sector and Amending Related Provisions<br />2005Waste Water Ordinance (AbwV), Oridnance on Requirements for the Discharge of Waste Water into Waters<br />1961Founding of the Federal organisation for waste treatment to optimize waste sorting<br />1974Founding of the Federal Environment Agency<br />1999Production Tax Creditfor Renewable Energy<br />2000Act on Granting Priority to Renewable Energy Sources<br />1985Fourth Ordinance for Federal Immission Control Act (BImschV)<br />1971First environmental program toprotect environment<br />Source: BMU<br />
  11. 11. Cleantech Investing in Germany<br />Germany #1 Region for Cleantech World-Wide<br />Germany has seen rapid growth in their<br />Clean Energy business (CAGR from 2000– 2007) <br />Germany dominates wind and solar jobs among peers (2006)<br />Source: UNEP, “Green Jobs: Towards decent work In a sustainable, <br /> low-carbon world”; 2006.<br />Note: Figure is based on public market data only.<br />
  12. 12. Cleantech Investing in Germany<br />Technology <br />“Made in Germany“<br />
  13. 13. Cleantech Investing in Germany Cleantech “Made in Germany”<br />German companies are global leaders in Cleantech<br />Global Trade ofenviromentalprotectionproductsShare in global tradewith environmental protectionproducts, 2006 bycountry<br />World marketshareof German Cleantech companies in selectedsectors<br />!<br />Decentral Water Management<br />Wind Energy<br />Solar Heat<br />Photovoltaic<br />40%<br />17%<br />24%<br />41%<br />Biogas Plants<br />Process Measuring & Control Technology<br />Waste Water Treatment<br />Thermal Insulation<br />12%<br />11%<br />10%<br />65%<br />Germany<br />Rest of World<br />Source: Umweltwirtschaftsbericht 2009; Ministryof Environmental, Natural andReactorprotection, Germany <br />
  14. 14. Cleantech Investing in Germany<br />Lack of<br />Venture Capital <br />
  15. 15. Cleantech Investing in Germany <br />Germans are different….<br />The LOCUST-Mentality<br />The KRAUT-Mentality<br />VS.<br />Why?<br />
  16. 16. Cleantech Investing in Germany Less money chasing Cleantech Deals in Germany<br />Share of Venture Capital allocated to Cleantech Dealsin % of total VC Investments per country of portfolio company in 2007<br />Select German Cleantech Exits<br />Source: 2009 EVCA Yearbook, European Private Equity & Venture Capital Association<br />
  17. 17. Cleantech Investing in Germany <br />Excellent…<br />Exit Track <br />Record<br />
  18. 18. Cleantech Investing in Germany<br />Favourable Exit Potential <br />Select German Cleantech Exits<br />M&A<br />IPO<br />Source: 2009 EVCA Yearbook, European Private Equity & Venture Capital Association<br />
  19. 19. Lack of<br />Venture Capital <br />What makes Cleantech Venture Capital<br />Investing in Germany special?<br />Excellent…<br />Technology<br /> „Made in Germany“<br />Exit Track <br />Record<br />Cleantech Pioneer<br />The KRAUT-Mentality<br />…<br />
  20. 20. Investment Opportunity<br />Fantastic <br />Investment Potential!<br />
  21. 21. Investment Opportunity<br />How to participate…<br />Mountain Cleantech AG aims to raise EUR 100m for Fund # 2 – a Luxembourg SICAV-SIF structure<br />Administrator and Custodian <br />Legal Advisor<br />Auditor<br />External Partners<br />