opportunities in cleantech and energy - morgan solar inc. pres to young social entrepreneurs of...
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Opportunities in Cleantech and Energy - presented by Emma Hemmingsen, Communications Manager, Morgan Solar Inc. to Young Social Entrepreneurs of Canada reVision 2011 conference.TRANSCRIPT
Opportunities in Cleantech &
Energy
Emma Hemmingsen
Communications Manager & Biz Dev
reVision 2011
March 26, 2011
Cleantech
Bombardier’s solar-powered, high-speed Maglev train. Designed to perform more efficiently and at lower costs.
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Cleantech VC Investments in North America, Europe, Israel, China, and India (USD $Billions)
Source: Cleantech Group LLC
If You’re Going to Start Up in Cleantech
…it’s actually not that different from starting any other for-profit company.
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Follow The Typical VC Investment Model
VCs make 10 investments• 1 winner, 2 break evens, 7 duds• They want a 10x return, in 3 to 5 years
Show yourself and your investors how you will get your money out.
Except realize that the stakes are higher
Energy Poverty
Thin Film PV Low Cost
Higher Cost
Expensive
Low Efficiency
High Efficiency
Silicon PV
CPV
CPV HOLY GRAIL
High EfficiencyLow Cost
Medium Efficiency
Cost Vs. Efficiency - A Trade Off?
• Multi-junction or III-V cells developed in 1970s for space applications
• Better thermal performance than silicon or thin films
• Potential efficiency of 60%, in clear development path
CPV Has Tremendous Potential
III-V Cells > 40% efficiencyCell Cost < $0.30/ Watt
Current Optics Are The Limitation
Fresnel Lens• Bulky, high precision & expensive• III-V cells in a box with lenses on top
Amonix MegaModule 7700 (Source www.amonix.com)
Light-guide Solar Optic: Low cost, high efficiency concentrating optic
MorganSolar
Fresnel
Investors Funding & Support
$9.2 million in Angel, VC & strategic investments
$10.3 million in Canadian & US Government funding
Plan & Next Steps
• Sell turn-key systems
• Start Certification process - summer 2011
• 450 kW of test sites in 2011
• 5.5 MW/year facility - mid 2011
• Ramp up of 50 MW/year in early 2011
• Leverage success in subsidized markets in the developing world to enter developing
Other examplesIn Canada 12000 kWh/yr/home ÷ 550 kWh/m2/yr = 22 m2/home
10 m2 per home might be enough for energy efficient homes.
5 m2 per home would be a big improvement for African homes.
1. Renewable Energy• Fenix Solar• Tangerine Power (community-funded power)
2. Energy Efficiency (the Nega-Watt)• Opower (community engagement platform)
3. Transportation• Timeshifting commutes & telecommuting• Ride & car sharing• High-speed rail, the Bike Train
4. Smart Grid• Timeshifting appliances --> the Energy Internet• The Desertec Initiative
5. Biofuels (aggregating farmer’s waste) 6. Waste
• Craiglist --> opp. to connect expiring food in similar way7. Connecting people and things more efficiently
• Connect MBAs with inventors trying to get their cleantech ideas off the ground
Cleantech Opportunities
“We need lots of companies working on this. Hundreds. In each of these five paths [nuclear, carbon storage, solar photovoltaic, solar thermal, and wind] we need at least 100 people. And a lot of them you look at and say ‘you’re crazy’. That’s good.”
- Bill Gates’ TED talk on energy: Innovating to Zero! (2010)
Emma Hemmingsen
Communications Manager & Biz Dev
416.203.1655
emma.hemmingsen@
morgansolar.com
Thanks!