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CleanTech Due DiligenceC12 Solutions’ process for understanding technology risk
Jason Norman Ph.D.Founder
C12 Solutions!
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Investing in technology based
opportunities needs to be
approached carefully...
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...but with the right
TOOLS
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and
PROCESS
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we can manage therisk
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We believe the
process should
be:
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Timely
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Transparent
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Repeatable
Repeatable
Repeatable
Repeatable
Repeatable
Repeatable
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UNBIASED
and
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People
Intellectual Property
Technology
Strategy
Finances
five
C12 Solutions!
focuses on
key areas
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TECHNOLOGY
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With over 20 years experience in
industrial engineering
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research
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and sustainable product development
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we can quickly assess
technical viability
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If we need to
dive a little
deeper...
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fluid dynamics
...we use analysis tools in
...industrial process simulation...
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chemical kinetics...
...and fuel science
fuel pyrolysis
...to provide further
clarification
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INTELLECTUAL PROPERTY
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We look at patent information to
ascertain:
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activity
linkages
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...and develop an
overall
of the associated
intellectual property
LANDSCAPE
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Further analysis highlights
areas of potential: Strength
Weakness Threat
Opportunity
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This enables us to determine:
Other M&A Threats
Competitive Technologies
Cross Licensing
Partnerships
Freedom to Operate
BuyersAcquistion Opportunities
Patent Strength
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Financials
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We scrutinize the financial projections
and test major project ASSUMPTIONS...
EfficiencyCost of Materials
UtilitiesDistribution
Scale-upTax credits
Regulatory incentivesCarbon credits
IRR’sPayback
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...as well as those associated with
and other key
TRENDSVs.
ALTERNATIVE
solutions
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Strategy
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With reference to technology
assessment, strategy
relates to whether the
technology is
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Time
Perf
orm
ance
INCREMENTAL
OR...
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Time
Perf
orm
ance DISRUPTIVE
DISRUPTIVE
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We identify an opportunity’s competitive
advantages...
Durability
Effic
ienc
ySu
stai
nabi
lity
OPE
X
CAPE
XEa
se o
f us
eRet
rofit
tabl
e
......
.....
Ris
k
HIGH
LOW
xx
x
xx
x
xx
Opportunity
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Durability
Effic
ienc
ySu
stai
nabi
lity
OPE
X
CAPE
XEa
se o
f us
eRet
rofit
tabl
e
......
.....
Ris
k
HIGH
LOW
xx
x
xx
x
xx
I
II
I
I
II
I Alternative A
o
o
oo
o oo
o Alternative B
Opportunity
We identify an opportunity’s competitive
advantages......and relate them to competitive alternatives
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PEOPLE
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We look at the people
from the perspective of
what needs to be done
to move the technology
forward
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required capabilities are
determined
CompetencyMember
A
Member
B
Member
C
Member
D...
Process Scale-up
Catalysis
Corrosion
Design
Manufacturing
Partnerships
Env. Permitting
Intellectual Property
Project Management
Commercialization
Piloting
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required capabilities are
determined
CompetencyMember
A
Member
B
Member
C
Member
D...
Process Scale-up
Catalysis
Corrosion
Design
Manufacturing
Partnerships
Env. Permitting
Intellectual Property
Project Management
Commercialization
Piloting
and matched against
those of the team
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To do this, we interview the team and use various competitive intelligence
techniques to identify:
Professional networks
and track record
associations
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analysisIt is through this
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that we obtain...
People
Intellectual Property
Technology
Strategy
Finances
...the BIGGER PICTUREassociated with an investment opportunity