1. Finansieringslösningar
för
miljöföretagande:
Globala
trender
för
bolag
i
olika
utvecklingsfaser
och
inom
olika
segment
18 Oktober, 2012
Henrik Malmsten, Durable Vision Invest
D.V. I
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2. Is this sustainable?
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3. Agenda
• An assessment of how the recent market conditions
affected the interest in sustainable investment
• Case: Renewable energy market
• Trends in Sweden within the cleantech area
• Future trends within the cleantech area
• Q & A:
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4. Henrik Malmsten
• Head of Asset Management at Sixth AP-fund for seven years and
extensive experience to manage teams.
• Have been in the financial business for more than 20 years.
• Successful management of various portfolios and at the
most > SEK 20 billion.
• Extensive experience of Corporate Governance of listed as well non
listed companies.
• In charge of setting up the Sixth AP-Fund´s Asset Management as well
as the fund Lannebo Total (within Lannebo Fonder).
• Focus on the Renewable Energy and Cleantech sector over the past
ten years, global network and info structure established. Initiator and
Fund Manager of Blue Engine, the first Swedish fund capturing the strong
growth in the global equity renewable energy market.
• Founder of Durable Vision Invest (D.V.I). - Global sustainable investments
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5. Key Words - Sustainable Energy
Cleantech:
The term "clean technology" describes technologies developed by
biological, computational, and physical scientists and engineers that enable
more valuable use of natural resources and greatly reduce ecological
impact.
NewEnergy:
Wind, flowing water, energy conservation. Technologies such as solar cells,
hydrogen and fuel cells and ocean energy.
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6. Important Persons - For the World and Sweden
Al Gore
Dr. Rajendra Pachauri Michael Wood
- Chairman IPCC.
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7. Sustainable Investments
Envirotech Cleantech
1970s-80s mid 1990s –
• Regulatory driven market • Economic market drivers
• Compliance-based purchasing • Productivity-based purchasing
• “End-of-pipe” tech, e.g. scrubbers • “Front-of-pipe” tech, e.g. zero
on smoke stacks emission plants
• Chemical science • Biological & materials science
• Traditional engineering • Systems design & engineering
• Slow growth markets, e.g. waste • Rapid growth markets, e.g. solar
management energy
• “Save the world” mentality • “Entrepreneurial” mentality
• Low IT use • High use of IT
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8. Why invest in Renewable Energy
• Great geopolitical focus is a driving force for
renewable energy
• Cheap oil production is no more available
• Growing governmental and consumer environmental
requirements
• Increasing demand for renewable energy among
non-OECD countries
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9. The Case for Swedish Cleantech
§ Swedish Cleantech deal flow is particularly strong for the following
reasons:
o A highly literate and educated population
o Public identification of the environment and development as key
issues
o Consistent corporate and government leadership on these issues
o Subsequently, Sweden has a very strong research base and more
mature technologies and markets for Cleantech than most other
countries
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10. World energy consumption, 1990-2035
IEA (International Energy
Agency) predicts that the
world energy consumption
will increase > 45% until
2030 within non-OECD.
Source: IEA 2011
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11. Global energy demand, Total electricity production mix
Hydro
16% Geothermal
Nuclear Waste
15% 14,9% 13,4%
Oil Other
Wind
Gas 6% 2,4%
29,3%
20% Other Solar PV
2% 0,6%
Biomass Solar Thermal
39,1% Tide 0,2%
Coal 0,1%
41%
Source: IEA 2010
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12. Cleantech – 5-year CAGR expectations
Solar globally Wind globally
MW MW
250 000
500 000
450 000
200 000
400 000
350 000
150 000 300 000
250 000
100 000 200 000
150 000
100 000
50 000
50 000
0
0 2000 2004 2008 2012 2016 2020
2000 2004 2008 2012 2016 2020
Demand Side Efficiency Renewable Energy Distributed Energy
• Building & Facility (growth : 8-10%) • Solar (growth: 35-40%) • Storage & Battery technologies (growth : 10-15%)
• Mobility (growth : 10-15%) • Wind (growth: 20-25%) • Energy conversion technologies (growth : 15-20%)
• Industrial processes (growth : 10-15%) • Alternative fuels (growth : 30-35%) • Power electronics (growth: >10%)
• Hydro & Geothermal (growth : 5-10%) Source: EPIA, ISES, IEA, EWEA,
PV Market Development and Perspectives, 2010
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13.
Top 10 Solar PV Markets, installed in 2011 (kw)
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14. The Global Equity Markets for Renewable
Energy
USA 39% 33%
China 14% 5%
Spain 10% 10%
France 7% 7%
Denmark 5% 6%
Germany 4% 8%
Brasil 4% 2%
South Korea 3% 0%
Japan 3% 6%
Canada 2% 1%
Taiwan 2% 0%
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%
Total market capitalization
approximately 250 billion euro 2012 2009
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15. The Global Universe within
the Equity Markets for Renewable Energy
24%
Energy Effiency 28%
Solar 22% 26%
Wind 17% 25%
Others 15% 7%
Biomass/Fuel 14% 12%
Power Storage 4% 4%
Hydrogen & Fuel Cells 2% 2%
0% 5% 10% 15% 20% 25% 30%
Total market capitalization
approximately 250 billion euro 2012 2009
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16. The 2012 Global Cleantech 100
> 5.5 2.2-3.9 < 0.6
3.9-5.5 0.6-2.2 No data
Källa: Cleantech Group Analysis
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17. The 100 companies by sektor
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18.
I tidig fas saknas både kunder och privat kapital
Ernst and Young – Navigating the Valley of Death
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19.
How Sweden will create the world's best climate for innovation?
Veckans Affärer
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20.
Stockholm Cleantech Venture Day 2012
Cleantech Company of the Year Award 2012
to Anolytech at Stockholm Cleantech
Venture Day 2012
Magnus Rehn, STING, Catherine Ehrensvärd, CEO
Anolytech and Olof Berglund, chairman of the jury
SCVD2012
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21.
Institutions and investors within cleantech in Sweden
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22.
Swedish media within cleantech
Nu lyfter vi - 33-listan 2012
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23. Thank you for listening to the future!
As the Chinese saying goes:
”The best time to plant a tree was a hundred years ago.The
second best time, is today”
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