841336 ECN Update Due Diligence leaflet - TNO · diligence in a select number of areas in clean...
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y g o l o n h c e T due diligence De-risking clean tech ECN P.O. Box 1, 1755 ZG Petten The Netherlands Contact: Business Development T: +31 88 515 4729 E: [email protected] ecn.nl/techduedil Professional investors have a robust process to assess investment opportunities, and to select a number of potential winners in the clean tech landscape. While investment managers have the skill set to analyze a broad array of ventures in the clean tech field, a more in depth perspective on the quality of the technology of a venture is often required. The renowned global clean tech institute ECN, in co-operation with venture capital advisor Road to Value, now offers investors concise technology due diligence in a select number of areas in clean tech. Systematic assessment of a potential technology is a vital part of a comprehensive due diligence activity. However, rapidly emerging technologies are typically challenging to evaluate. Sourcing the right expertise can be difficult and knowing how to upscale the technology can also be complex. ECN now offers investors a systematic technology assessment to fulfil this demand. Due diligence scope: getting to grips with technology d n a p u g n i l a c s , g n i s i v e d n i e c n e i r e p x e n w o s t i n o d e s a b s i g n i r e f f o e c n e g i l i d e u d h c e t s ’ N C E commercialising proprietary (renewable) energy technology. Furthermore this experience has been broadened by working with technology companies across the world in our chosen areas. 1. Design s t fi e n e b y g o l o n h c e t f o n o i t a u l a v e d n a t n e m s s e s s a e r u t a e F Identification of additional benefits s m i a l c c fi i t n e i c s f o k c e h c d n u o r g k c a b d n a n o i t a u l a v E s e c i t c a r p n o m m o c d n a s d r a d n a t s t e k r a m h t i w t i F t n e m n o r i v n e g n i t a r e p o n i n o i t a t n e m e l p m i f o e s a E 2. Freedom to operate r e y w a l P I h t i w n o i t c n u j n o c n i s t c i fl n o c d n a s m i a l c t n e t a p f o n o i t a u l a v E r e y w a l P I h t i w n o i t c n u j n o c n i e g d e l w o n k d n u o r g e r o f r o P I t n i o j o t e u d s r e i r r a b l a i t n e t o p f o n o i t a u l a v E e s i t r e p x e l a c i g o l o n h c e t h t i w t n e m s s e s s a t n e t a p r o f p u k c a B Comparison with competing technologies 3. Application s t e k r a m d n a s n o i t a c i l p p a c fi i c e p s n i s e r u t a e f f o t n e m s s e s s A s e t a m i t s e l a i t n e t o p t e k r a m d n i h e b s n o i t p m u s s a f o n o i t a u l a v E s t e k r a m d n a s e i t i n u t r o p p o l a n o i t i d d a f o n o i t a c fi i t n e d I t n e m n o r i v n e g n i t a r e p o e h t n i s e g n a h c n e e s e r o f n u o t y t i v i t i s n e s , y g o l o n h c e t f o s s e n t s u b o r d n a y t i l i b i x e l F 4. Demonstration ) e l a c s o m e d , e l a c s t o l i p , e l a c s b a l ( s e g a t s s u o i r a v t a t r o f f e n o i t a r t s n o m e d f o t n e m s s e s s A t n a v e l e r - n o i t a c i l p p a e h t e v a h : e p o c s n o i t a c i l p p a h t i w e m o c t u o n o i t a r t s n o m e d f o n o s i r a p m o C parameters been shown to be under control? e c n a m r o f r e p e l c y c - e f i l l a t n e m n o r i v n e d n a e m i t k c a b y a p y g r e n e f o t n e m s s e s s a l a r e n e G s t n e m e r i u q e r l e d o m s s e n i s u b h t i w s e r u t a e f n o i t a r t s n o m e d f o n o s i r a p m o C 5. Operations e c n a n e t n i a m , x e p o , x e p a c g n i d r a g e r s n o i t p m u s s a f o n o i t a u l a v E s t n a g i t i m f o n o i t a c fi i t n e d i , y g o l o n h c e t f o p u - e l a c s g n i d r a g e r t n e m s s e s s a k s i R Feasibility of large-scale production k c o t s d e e f s s a m o i b . g . e ( t n a v e l e r e r e h w s t n e n o p m o c r o s l a i r e t a m l a c i t i r c f o t n e m s s e s s a b a L characterisation, photovoltaic cell testing, etc.)
Transcript of 841336 ECN Update Due Diligence leaflet - TNO · diligence in a select number of areas in clean...
ygolonhceT due diligenceDe-risking clean tech
ECNP.O. Box 1, 1755 ZG PettenThe Netherlands
Contact:Business DevelopmentT: +31 88 515 4729E: [email protected]
ecn.nl/techduedil
Professional investors have a robust process to assess investment opportunities, and to select a
number of potential winners in the clean tech landscape. While investment managers have the skill set
to analyze a broad array of ventures in the clean tech fi eld, a more in depth perspective on the quality
of the technology of a venture is often required. The renowned global clean tech institute ECN, in
co-operation with venture capital advisor Road to Value, now offers investors concise technology due
diligence in a select number of areas in clean tech.
Systematic assessment of a potential technology is a vital part of a comprehensive due diligence activity. However, rapidly emerging technologies are typically challenging to evaluate. Sourcing the right expertise can be diffi cult and knowing how to upscale the technology can also be complex. ECN now offers investors a systematic technology assessment to fulfi l this demand.
Due diligence scope: getting to grips with technology
dna pu gnilacs ,gnisived ni ecnei repxe nwo sti no desab si gnireffo ecnegilid eud hcet s’NCEcommercialising proprietary (renewable) energy technology. Furthermore this experience has been broadened by working with technology companies across the world in our chosen areas.
1. Design
st fieneb ygolonhcet fo noitaulave dna tnemssessa erutaeF Identifi cation of additional benefi ts
smialc c fiitneics fo kcehc dnuorgkcab dna noitaulavE secitcarp nommoc dna sdradnats tekram htiw tiF
tnemnorivne gnitarepo ni noitatnemelpmi fo esaE
2. Freedom to operate
reywal PI htiw noitcnujnoc ni stci flnoc dna smialc tnetap fo noitaulavE reywal PI htiw noitcnujnoc ni egdelwonk dnuorgerof ro PI tnioj ot eud sreirrab laitnetop fo noitaulavE
esitrepxe lacigolonhcet htiw tnemssessa tnetap rof pukcaB Comparison with competing technologies
3. Application
stekram dna snoitacilppa c fiiceps ni serutaef fo tnemssessA setamitse laitnetop tekram dniheb snoitpmussa fo noitaulavE
stekram dna seitinutroppo lanoitidda fo noitac fiitnedI tnemnorivne gnitarepo eht ni segnahc neeserofnu ot ytivitisnes ,ygolonhcet fo ssentsubor dna ytilibixelF
4. Demonstration
)elacs omed ,elacs tolip ,elacs bal( segats suoirav ta troffe noitartsnomed fo tnemssessA tnaveler-noitacilppa eht evah :epocs noitacilppa htiw emoctuo noitartsnomed fo nosirapmoC
parameters been shown to be under control? ecnamrofrep elcyc-efil latnemnorivne dna emit kcabyap ygrene fo tnemssessa lareneG
stnemeriuqer ledom ssenisub htiw serutaef noitartsnomed fo nosirapmoC
5. Operations
ecnanetniam ,xepo ,xepac gnidrager snoitpmussa fo noitaulavE stnagitim fo noitac fiitnedi ,ygolonhcet fo pu-elacs gnidrager tnemssessa ksiR
Feasibility of large-scale production kcotsdeef ssamoib .g.e( tnaveler erehw stnenopmoc ro slairetam lacitirc fo tnemssessa baL
characterisation, photovoltaic cell testing, etc.)
6. Innovation Assessment of potential growth of primary and auxiliary markets Evaluation of proposed R&D program
Content & format: cut to the chase Due diligence fi ndings are presented in electronic format. Every due diligence chapter is concluded with an overview of key risks and opportunities and potential mitigation options (or strategies), where possible expressed in fi nancial terms.
The format contains all relevant information (including documents, interviews, benchmark data, etc.) backing up the assessments in the relevant section.
Process: technology due diligence aligned with overall due diligence ECN does not regard technology due diligence to be a standalone assessment, but embedded in the overall due diligence based on the investment thesis. We take the time to understand the investment thesis and its implication for due diligence. The focus of the technology due diligence is determined in two stages: fi rst, by tailoring the scope to the investment thesis and the specifi c technology. First results are discussed with the investment manager, discussing the risks and opportunities of the technology and its impact on the investment thesis. Next, a second assessment will take place in combination with other due diligence fi ndings, for an in-depth investigation of key priorities for the investment manager.
The ECN due diligence team will be assembled to suit your needs. Typically, the team will be led by a technical genera list, supported by an experienced venture advisor of Road to Value, and one or two seasoned experts and analysts. Due diligence will be based on the tailored due diligence check lists, assessing key documents, performing site visits, and hosting a range of interviews. If required, due diligence analysis can be broadened to include lab assessments. Typical due diligence assignments last for 1-2 weeks in total. Depending on where the investment manager stands in assessing the investment proposal, a “light” assessment version can be offered by ECN, in which a quick assessment of key areas is performed in order to help the investment manager fi lter his propositions.
Problem SolvingIn addition, ECN offers investors the ability for rapid assessment and problem solving in technology development and up scale of existing clean tech investments. ECN’s team is multidisciplinary, consisting of pragmatic problem solvers, experienced operators, technology experts and conceptual thinkers that enable a fresh perspective on problems, and the translation into swift improvement actions. Secondly, ECN offers investors a technology strategy review for portfolio companies.
Our technology due diligence is tailored to the specifi c investment thesis and requirements of the investor.
About usECN develops renewable energy technology with and for the market, contributing to a future sustainable energy system. ECN plays a leading role in R&D and has gained a strong reputation worldwide. 550 employees passionately work on renewable energy at ECN every day. With our state-of-the-art knowledge and expertise, we offer clean tech investors high-level due diligence services. Venture capital advisor Road to Value has in-depth expertise in the venture development process, lowering the threshold to bringing ECN’s services and the specifi c investor needs together.
ecn.nl/techduedil
