profiles
In-depth profiles with active investors and expert advisors in new energy, cleantech and renewables, who are shaping the industry.
11th March 2010
James Hall-Smith of HSBC discusses the drivers behind the growth of the European renewable energy scene and the opportunities this affords to infrastructure investors and project financiers alike.
‘I think there is an increased interest from a corporate governance and sustainability perspective. This makes many institutions focus on this area. There is also a recognition of the drivers behind environmental infrastructure, from the fundamentals of creating the best opportunity to tackling climate change, whilst also looking to gain energy security and satisfy the social and political drivers.’
5th March 2010
Potential resource scarcity lies at the heart of Virgin Green Fund’s investment strategy, with a focus on promising companies across a global range of sectors, technologies and geographies.
‘We look at the convergence and overlap of the energy, water and waste sectors as key broad themes for our investment strategy and where we tend to operate, to find these companies - an area that we feel can only get bigger.’
25th February 2010
The notion of high risk means many cleantech investors are unwilling to venture into the developing countries. For Norwegian state-owned Norfund, however, addressing the lack of risk capital in developing countries lies at the very core of its activities.
‘Many countries face large power deficits, and if economic growth and poverty reduction is to be sustained, massive investments are required.’
15th February 2010
Global energy drivers, coupled with a revitalised US energy programme, translate to an increasingly attractive environment for early stage venture capital, according to Andrew Friendly of US technology investor Advanced Technology Ventures.
‘What we need to see in the renewable sector is some successes and some returns on the investments that both the public and private sector have been making.’
1st February 2010
Institutional investors are progressively turning their sights to listed opportunities related to climate change and clean energy, according to Simon Webber of asset manager Schroders.
‘We are looking to identify undervalued growth stocks and we think climate change will be one of the key drivers over the next few years.’
16th January 2010
The London Technology Fund has the unique advantage of focusing solely on cleantech innovation emerging out of London. At the helm sits David McMeekin, who believes that London offers a more diverse range of investments than any other UK city.
‘It is important to make sure we reach the key players in our ecoystem, rather than just waiting for people to find us. London is much larger and more diverse than other centres of technology.’
4th January 2010
With a new name and a new managing partner, London-based venture capital firm Frog Capital is focused on taking a more discerning approach to new investment opportunities.
‘There is a great deal of change going on in the cleantech market and we firmly believe that the strong entrepreneurial-led management teams we are seeing in some small to mid-sized businesses in the sector are more capable of dealing with change than most larger companies.’
23rd December 2009
Steve Westly discusses the opportunities for US clean technology investors, the long-term prospects for the sector, and the role of global government in stimulating the industry’s growth.
‘What people are realising is that while it never hurts to be smart, most of our entrepreneurs need someone who can navigate government because so much of this industry is government-based and government-dependent.’
1st December 2009
Mark Nydam discusses the advantages of funds of funds as a means to access clean energy assets, the challenges of fluctuating energy prices and why institutional investors should increasingly be looking to the sector.
‘Institutional investors tend to have a lot of capital at their fingertips and enjoy investing larger amounts so I believe there is a nice agreement between what the space requires and what the institutional investors can provide.’
19th November 2009
Bob Ackerman, founder of Silicon Valley venture capital firm Allegis Capital and board member of The Entrepreneur’s Foundation, on the hype surrounding cleantech, the potential bubble that is currently growing around the sector and the dangers of over-capitalisation.
3rd November 2009
Nino Tronchetti Provera discusses the impact of the economic downturn on the clean energy space and what lies ahead for Italy in the race to achieve a greener economy.
‘Italy is a big player in energy because it is a country without traditional energy sources. Unfortunately, Italy lost the opportunity to build an industrial sector out of the demand for solar and wind. The big potential for Italy lies with energy efficiency.’
28th October 2009
Sandra Lourenco, Olivia Asseo and Elisa Vergine of Crédit Agricole Asset Management discuss why energy efficiency is so crucial, the impact of the economic crisis and the rapid growth of the emerging markets.
‘If we had to find an upside to this financial crisis, from an investor point of view, the bubble has burst, so now is the time to investigate and cleantech is becoming interesting again.’
23rd October 2009
Dushy Sivanithy of Pantheon Ventures looks at the problems created by inexperienced managers, why cleantech presents a pan-European opportunity and how he gains access to the best funds.
‘We do view it as a huge opportunity and one that will only grow from here which is why we will continue to look at it very carefully. The energy and water sectors are just so vast that the scope for opportunities is immense. Accessing an investable opportunity however is more challenging.’
12th October 2009
Rick Wilson of US biofuel technology company Cobalt Biofuels discusses the need for private investment in new energy, the huge potential for development in biofuels and why a financial downturn encourages innovation.
‘The fuels market is huge. Next generation biofuels are only going to get better over time. The aim is to get to the point where we are cost competitive with crude oil refinery, but no-one is here yet.’
28th September 2009
Amid growing public demand for clean energy, Ausra Solar has created a place for itself in the burgeoning global solar industry. Tom Bartolomei, senior vice president of the company, quashes concerns that the solar sector is too heavily dependent upon subsidies, arguing that the huge market opportunities means it will have a key role to play as the developed world looks to transform its energy usage.
18th September 2009
Louise Luttikholt of Fairtrade looks at what governments are doing to support cleantech production, the effects of the economic downturn on the poorer nations, and urges developed countries not to hinder the growth of developing countries.
‘With Copenhagen coming up, we must ensure that climate change and development remains high on the agenda. In meeting the climate change challenge it’s critical that the world’s poorest farmers and workers don’t lose out.’
2nd September 2009
Lee Edwards of Virent Energy Systems looks at the stigma surrounding biofuels, the concerns over food-based feedstocks and the role of private investment.
‘The other area that comes into play is the fact that carbon is not priced in the world markets today and the technologies being developed today have environmental CO2 supremacy over fossil fuels.’
26th August 2009
Duncan Grierson discusses the challenges in gaining venture funding for a cleantech start-up, the growth of opportunities in the waste and recycling space across Europe and the need for governments to provide drivers to encourage investment in emerging environmental technologies.
‘It is extremely important for governments to put in place these broad economic drivers. But it would be a mistake for governments to make technology choices. Once the financial drivers and mechanisms are in place, then governments should leave the market to decide which are technically and commercially the best technologies to build out.’
20th August 2009
Vivek Tandon discusses the importance of strong management, why he feels the recycling sector is underveloped, and the opportunities for investment in Asia.
‘Whereas previously our model was taking a lot of European companies into Asia and expanding in that way, in the future I see it going the other way. Great technology developed in Asia and companies doing very well in Asia will acquire European companies and expand into Europe, even if there is a global slowdown.’
13th August 2009
Gijsbert Nollen discusses the opportunities for clean energy investments in Southeast Asia, why he is turned off by biofuels, and what the future holds for the region.
‘If the past two years is any precedent more and more Asian domestic companies will be established developing and refining their technologies in the bioenergy sector and ramping up development. The real success stories will be centered around locally adapted and developed technologies and research and local business entrepreneurs.’
5th August 2009
Louisa Bell of Eurostar discusses its mission to make its journeys carbon-neutral, talks about the role of governments and tells us why CSR has escaped the curse of the recession.
‘Everything we are looking at makes very good financial sense regardless of the environmental impact. However, coupled with the need to fight against climate change, there is absolutely no reason to reduce our focus in this area.’
29th July 2009
Christine Shapard, the executive director of the Colorado Cleantech Industry Association discusses why private investment is crucial in pushing cleantech forward, the effects of a new Administration and the potential impact to the industry of stimulus funding.
‘The stimulus packages that were recently introduced do focus on cleantech and we see a great deal of money going into smart grid proposals. Of course none of that money has yet made its way to the companies as they are still assessing applications but knowing funds will go into this area has boosted confidence and aroused an interest amongst companies.’
21st July 2009
Nigel Meir of Ludgate Environmental Fund looks at which areas are particularly attractive in the economic downturn, which countries are soaring ahead in the clean energy race and why management plays such an important role.
‘You are far, far better off with a decent idea but a fantastic management team than with the greatest idea anyone has ever had, but with a poor management team.’
14th July 2009
Marta Fernandez discusses why Europe is leading the way in clean energy, on targeting the wind power sector, and the effect of the global financial crisis on the renewable energy market.
‘Now that the rest of the world seems to be taking a downturn, we are seeing many people turn their attentions to renewable energy. It goes without saying that we will also suffer difficulty as a result of the financial crisis, but there is an underlying urgency to limit our dependency on oil and other fossil fuels.’
1st July 2009
Russell Read discusses the changing attitude of institutional investors to clean energy funds and why he walked away from CalPERS to establish his own green investment firm.
‘The choice for me to focus on this area was purely an investment decision. I see the natural resources as lying at the centre of capital formation and investment market opportunity for the first time in decades. This will have an impact in every asset class that major institutions will invest in and can hope to profit from.’
23rd June 2009
Ron Mahabir discusses the opportunities for cleantech investment in Asia, the importance of local knowledge and the prospects for renewable energy.
‘It makes no sense to price our resources against the historic fossil fuel prices. Renewable energy will only get more competitive as scale and technology take hold.’
16th June 2009
Raj Atluru discusses why hybridisation is the technology to watch, the effects of the American Recovery and Reinvestment Act on cleantech investment and why he believes the US will emerge with the biggest winners.
‘The ongoing policy frameworks supporting cleantech companies, coupled with enormous demand drivers gives young companies a fantastic platform on which to succeed and build very valuable companies.’
9th June 2009
Erik Straser discusses how US cleantech compares to the rest of the world, what effect the recent stimulus packages have had on the industry, and the appeal of proprietary technology.
‘We are really looking for companies where there is a proprietary technology that can disrupt or dramatically change the economics. Through the application of that technology or product, our companies go on to enjoy revenue and profit.’
3rd June 2009
Rene Savelsberg discusses the importance of renewable energy, how the governments could do more to boost this space and why the financial downturn isn’t all bad for an early stage venture capitalist.
‘From an investment point of view, if you have a somewhat longer perspective and can say that you are investing in companies that should be successful in three to five years from now, this is the perfect time to invest. Therefore, there is support for companies that have great breakthrough technologies, which will take a while before they are ready for prime time.’
27th May 2009
Stefano Sommadossi tells us why solar is the horse to back, why social responsibility is key to any investment and which countries hold the most exciting opportunities.
‘We are not interested in markets such as Spain, Portugal and Germany due to over-crowding; they hold little interest for us in terms of the returns. The most interesting places for solar, biomass and wind are now to be found in other countries such as Italy or the eastern Mediterranean.’
18th May 2009
Tom Blaisdell discusses what makes disruptive technology exciting, why it pays to be a venture capitalist in the current climate and why China and Japan are the nations to watch.
‘The biggest driver we have seen is the expanding middle class in developing countries like China and India where you have hundreds of millions of people moving up the economic ladder who have increasing demands for commodities like energy and clean water as well as consumer products such as refrigerators and cars. The trick will be to provide them in an environmentally sustainable manner. That is where disruptive technologies can play a key role.’
8th May 2009
Tom Murley discusses institutional investors’ increasing appetite for clean energy funds, which sectors he tends to avoid and the benefits of taking a long-term outlook.
‘We prefer a more conservative approach of classical project finance that has proven over the last 20 years to be resilient in all economic scenarios. As a result our investments are prospering.’
3rd May 2009
Shaun Mays discusses the pitfalls of investing in a growth market, infrastructure in the emerging markets, and creating wealth worth having.
‘This is about investing in the future of our world and in my mind there is no better way to make money than participating in the challenge, and opportunity, of our lifetime.’
1st May 2009
Robert Schrimpff discusses what makes an investment opportunity exciting, why Germany remains the cleantech leader and what impact the recession is having on the industry.
‘On the one hand valuations for early stage companies have become more realistic and growth expectations more sustainable. On the other hand more start-ups will fail to raise funding and many funded ones will struggle to meet their number and may fall by the wayside.’
24th April 2009
Arve Johan Andresen discusses what makes the Nordic region an attractive place for a cleantech investor, the dangers of relying on subsidies, and why cleantech is here to stay.
‘As venture capitalists we always believe we are doing good things, as we aim to fund innovation. The only crossroad we ever experience is the battle of how to balance growth against the impact to environment. Luckily with cleantech, we do not have to face this problem, so it is a particularly rewarding and exciting space to be in.’
20th April 2009
Kirk Washington discusses investing in Canadian cleantech, the difficulties in sourcing quality management, the prospects for Asia, and the advantages of targeting clean energy.
‘The notion of doing well financially, while doing good for the world is a real factor. It is intellectually challenging and rewarding because you feel as though you are giving something back. The people you get to work with are fantastic. I cannot think of a better place to be right now.’
14th April 2009
James McNaught-Davis discusses cleantech investments in Europe, the importance of energy storage and participating in an industrial revolution for the 21st century.
‘Humanity’s consumption of natural resources including clean air and water has ignored the fact that they are finite and therefore unsustainable. The world has a very large problem that technology can, and is, helping to solve.’
30th March 2009
Dr Helmut Vorndran discusses investment into the solar and wind sectors, the valuation dips facing the cleantech space and the future for private equity and clean energy.
‘I am convinced that renewable energy and cleantech will be one of the dominating industry segments for the private equity and venture capital spaces.’
20th March 2009
Ann Partlow discusses the growing commercial opportunities in resource efficiency, the US East Coast venture capital scene and the challenges facing a newly-launched fund focusing on clean energy.
‘It is always challenging to be a pioneer. We look for technologies and sectors in the market where there is a real need for a different solution today. We do not want to be so far ahead of the adoption curve that the companies have to struggle to create a new market.’
16th March 2009
Matt Taylor discusses the environmental infrastructure sector, the strategy behind a succesful biomass investment and why he tends to steer clear of some of the newer crop of technologies.
‘We are pretty sceptical about a lot of the technology plays. Because there is a lot of existing commitment behind change in certain areas, such as getting this new infrastructure in place, while there will be technological improvements, a lot of the developments in this space will be about using what we already know, and the refinement of existing technologies, rather than a radical introduction of completely new technologies. I prefer to focus on what is good now, rather than what could be good somewhere down the line.’
11th March 2009
Rick Fratus discuss investments into clean energy funds, the rise of Latin America and the implications of wider financial unrest on the clean energy space.
‘Obviously I am not happy about the state of global markets as a whole, but if you look at it there is probably some good medicine for clean technology companies, reinforcing emphasis on capital efficiency and discipline.’
10th March 2009
Nityen Lal discusses what the financial downturn spells for clean technology, why subsidies must be viewed with caution and which areas will see the most growth going forward.
‘I think we are at the tip of the iceberg of innovation in this sector; there is so much more yet to happen. In fact, the traditional technologies you see, such as solar, wind and biomass are just first generation technologies and there are many more generations to come, so we will see a great deal of investment going forward.’
2nd March 2009
Andrea Davi discusses opportunities in the water sector, his preference for building businesses from the ground up, and what he looks for in a clean energy company.
‘We look for the best technical performers in the space and we like to pick a strong team that has an in-depth knowledge and can work against the clock’
23rd February 2009
David Hunter discusses the search for genuinely compelling technologies, the difficulty in finding follow-on investments and the prospects for cleantech against the wider backdrop of the credit crunch.
‘I think the funding constraints will affect cleantech as well, but there is more money in the cleantech sector generally, as a lot of funds have been raised in the last 12 - 24 months with much cash in the bank. In some respects you have a stronger chance in the cleantech sectors than you have in others.’
16th February 2009
Nigel Grierson discusses why Europe is the new Silicon Valley and the prospects for cleantech under a new US president.
‘I believe the Obama administration will drive changes on a global scale. The more people that get behind this trend and the more money invested into exploring new cleantech technologies will be good news for the green economy in Europe, as well as globally. Anything the Obama administration does to help environmental welfare can surely only be a good thing.’
10th February 2009
Jack Levy discusses the impact of the economic downturn on cleantech and why Israel could be a key player in the green economy. ‘From the Israel perspective, I believe our country will continue to be a rich source of innovation because we have a culture that promotes creativity and risk-taking.’
2nd February 2009
Ralf Schnell discusses the strategies of a corporate investor and the challenges faced when applying the venture capital model to cleantech. ‘The cleantech space is an industry where innovation takes time and a lot of money is needed. The biggest challenge in applying the venture capital model to the cleantech space is to carefully watch the timing and the money spent.’
28th January 2009
Patrick Burtis discusses venture capital investment in European clean energy and the future prospects for the sector. ‘People ask if this is a bubble. A bubble for me is driven by valuations, and whilst there are sectors overvalued from time to time, in the long run this is a trend that is going to sustain and yield investment returns for many years. If anything, we are just at the beginning.’
24th January 2009
Eduardo Giuliani discusses the Brazilian venture capital scene and the future for biofuels.
‘The use of these inefficient biomasses will soon stop, and other, more advanced biomasses, will replace them, offering a genuine solution. It makes perfect sense, putting carbon in the atmosphere and taking it back. It is sustainable.’
14th January 2009
Susan Preston discusses the prospects for a green economy and why a cultural transformation is needed for the acceptance of renewable energy.
‘We need to embrace all the different solutions to climate change. We cannot afford to be one-dimensional; the entire renewable energy industry must be explored. It really is a multi-headed problem with a multi-headed solution. I believe the solution is out there; it is simply a matter of time.’
