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Cleantech Group

Inside Cleantech
Charting the Future, Connecting the Globe
Keeping you in touch with key trends, companies and people July 27, 2018
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 CEO Shout-Out

This week’s shout-out returns to the familiar subject of fundraising and goes to two friends of ours, two friends of the global community. The first goes to AP Ventures, who you may have known from our recent Cleantech Forums as Anglo American Platinum. AP Ventures recently announced their spin out as an independent $200M fund, still focused on the development of innovative and competitive technological uses of Platinum Group Metals (“PGMs”), but now open to other LPs. The second shout-out goes to Emerald Technology Ventures (ETV). ETV recently announced more corporate LP investment – four new corporations (SHV Energy, Heraeus, Bekaert and SCG) have joined their evergreen Industrial Innovation fund. In addition, Nabtesco has established a new dedicated €75M fund with ETV to invest primarily in robotics, motors, sensors, additive manufacturing, artificial intelligence and IoT technologies.

Richard Youngman, CEO, Cleantech Group (CTG)

 Trending Topics
Power to the People: Remote Microgrids across Southeast Asia
Across the world around 1.3 billion people still have no access to electricity, and 87% of these people live in rural areas where extension of the grid is impracticable. Microgrids can help to provide electrification, as well as stability and resiliency to these areas, ultimately helping to pull a large portion of society out of energy poverty....

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 BEST RATE ends Today! 2019 Cleantech Forum San Francisco
Quick reminder! The BEST RATE for our 2019 Cleantech Forum San Francisco is closing tonight Pacific Time. Check out the preliminary program & register early! This will be the lowest rate possible to join us January 28-30, 2019.

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 Sector Watch: Energy & Power
Segment: Microgrids as a Service

There is an increasing demand for resiliency and predictability across energy infrastructure driven by society’s modern energy demands. Microgrids are aiding this transformation, providing clean, flexible, low-cost power to communities. However, high infrastructure costs are one of the main challenges that has prevented wide spread adoption, but companies are now exploring new ways to augment business models behind the meter. Microgrids – traditionally owned almost entirely by end users – are beginning to emerge with third-party ownership models, which have flourished in other industry verticals.

Attractiveness: Customers of the “Microgrid as a Service (MaaS)” business model are not required to invest upfront for infrastructure. Investment is instead provided by investors who cover project costs, including design, permitting, finance, construction and operations and maintenance, in exchange for receiving value streams associated with selling services to the grid. This approach helps customers secure reliability without operational risk. There is a rising demand for MaaS from hospitals, universities, and remote areas, and high investments by governments and corporates in microgrid infrastructure are driving the growth of the MaaS market. Market growth is further driven by the decreasing levelized cost of electricity (LCOE) for renewable systems in recent years. The MaaS market was valued at $ 775 million in 2015 and is expected to reach $ 2.2 billion by 2022.

Business models: MaaS has its roots in the energy performance contract model, adopting the power-purchase agreement from the solar industry to sell microgrids as a service. The model is about taking capital, structuring it in a way that is flexible, and delivering an outcome that caters to customers’ short- and long-term energy needs. In this model, the end user signs a long-term contract, receiving reliable backup power at a significantly reduced price, or in some cases for free. The end user gets the right to purchase power from the on-site DERs, catering to those who want cleaner or more reliable power but don't want to be in the energy asset management business.

Competitive view: The MaaS space is dominated by companies that can afford the large upfront costs. Private equity giant The Carlyle Group set up a business unit last fall, Dynamic Energy Networks (DEN), in partnership with Schneider Electric (an early pioneer of the MaaS model) to deploy capital to create microgrids, setting aside an initial pot of $500 million. Other key market players include GE, ABB, Eaton, Siemens, Green Energy, Exelon, and NRG. Startups including Freedom Energy, which have also received funding, are also working on service-based models. APAC is one of the fastest growing markets for MaaS, due to the rise in energy intensive activities. With the growing industrial sector, countries like China, Japan, India, and South Korea are gaining substantial market share of the MaaS market. Furthermore, increasing demand for rural electrification projects and investments made by both national and international companies is driving adoption. There is potential for the market to grow quickly, as national companies adopt MaaS for their multi-state portfolio and energy needs.

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Dynamic Energy Networks is a developer and operator of microgrids and distributed energy resources.
Freedom Energy is a developer, financier, and builder of off-grid power projects.
Green Energy Corp is a designer of software engineering services for distributed energy generation, load management, and innovative microgrid controller solutions.
 Innovation Calls
This section will feature some of what we are seeing across the world in terms of significant "calls for innovation,” saving you time by providing a scan on the live opportunities and programs calling for international innovation.
Last Call for July applicants! Cleantech Group has a live innovation call for companies interested in being showcased during one or both of the two AsiaConnect Week events – our Cleantech Forum Asia in Singapore (November 13-14) or our Next-Gen Energy Innovation Summit in China, which is co-located in the 5th annual CleanConnect event in Nanjing (November 15-16). Applicants are reviewed and places offered on a rolling basis. Next review is set for August 1 so hurry as 30% of places are already allocated!  Deadline: July 31, 2018




Cleantech Forum Asia
Singapore | November 13-14, 2018
Next-Gen Energy & Industry Innovation Summit at CleanConnect
Nanjing, China | November 15-16, 2018

Last Call! Australia's EnergyLab's Accelerator Program is taking applicants for its next cohort for a 12-month program, beginning in October 2018. Deadline: July 30, 2018
Learn More 

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The Los Angeles Cleantech Incubator (LACI) and the California Clean Energy Fund (CalCEF) are partnering for the California Climate Cup – a competition seeking the next generation of startups from anywhere in the world, focused on finding transformative climate solutions for megacities & regions in zero emissions transportation, the energy/transportation nexus, and digital tools for sustainability. Deadline: August 6, 2018

Learn More 

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Sign the Entrepreneurs Call To Action! This is a call for signatories for Global Climate Action Summit in California from September 12-14, 2018. It builds on the Entrepreneurs Call to Action Statement presented at COP21 in Paris in 2015. This is an initiative in which entrepreneurs from all over the world with cleantech solutions are issuing a call for world leaders to scale innovations that increase resilience, enable sustainable energy for all and disrupt the current energy ecosystem of harmful fossil fuel emissions. Make your voice heard in San Francisco and share your company’s transformative solution and determination with world leaders! To view the full Call To Action statement, click here. Deadline: September 2018

Learn More 

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Zoox, a Silicon Valley-based developer of autonomous electric vehicles, raised $500 million in a growth equity round, bringing its total capital raised to $750 million. This round included Primavera Capital and Grok Ventures, and Zoox now has a post-money valuation of $3.2 billion. Zoox previously raised $290 million from Tencent Holdings, Lux Capital and DFJ in 2016. The company plans to publicly deploy autonomous vehicles by 2020 in the form of its own ride-hailing service., a developer of computational imaging technology, raised $121 million in a growth equity round. Interestingly, SoftBank led the round through its Vision Fund, with Leica Camera AG also participating.  Light said it will use the new funding to expand beyond consumer photography and into security, robotic, automotive, aerial and industrial imaging applications. The company, which makes a 16-lens camera, was founded in 2013 and has now raised $186 million in total.  

standard_AgBiome_logo.png AgBiome, a developer of microbial microorganisms and proteins that kill insect pests, pathogens, and weeds, raised $65 million in a growth equity round. The company, which is already backed by both Monsanto's and Syngenta's venture capital arms, as well as the Bill & Melinda Gates Foundation, added Fidelity Management & Research Company. The company's value proposition comes through its collection of sequenced microbes that it has built using its proprietary platform, which are then turned into crop protection solutions. 
Embark Trucks, a developer of self-driving truck technology, raised $30 million in a Series B round. This Y Combinator-incubated company has added Sequoia Capital and AME Cloud Ventures to its roster of investors, while Data Collective, Maven Ventures and SV Angel participated as existing investors. The company has managed to raise $45 million in equity since it was founded last year. Embark has completed a coast-to-coast self-driving test run earlier this year, and now operates a daily freight route between Los Angeles and Phoenix.

Stem.png Stem, a developer of learning software and energy storage for smart energy management, raised $26 million in a growth equity round led by BNP Paribas and Magnesium Capital. The provider of energy optimization services also raised $152 million from Ontario Teachers’ Pension Plan to finance the acquisition of energy storage projects in the Ontario market. Interest in the company largely comes down to the artificial intelligence platform that Stem has produced to optimize the timing of energy storage, using big data and machine learning. Stem expects to spend the funds over the course of the next 12 months with the main aim of reducing peak demand costs.

Looking for more? CTG’s Services keep you in touch with the emerging trends, the leading innovation companies, and the key players in sustainable innovation worldwide. Get Started Orange.png

 Winner of the Chubb 2018 Global Cleantech Risk Survey
Congratulations to the winner of the Chubb 2018 Global Cleantech Risk Survey raffle, Paul Mertes, President & CEO of CircuitMeter. Mr. Mertes was one of over 250 CEOs to take the survey and was chosen at random to win an HTC Vive Virtual Reality set.

circuit meter logo.pngCircuitMeter is a developer of electrical energy submetering hardware, integrated with big data and cloud-based monitoring enterprise software designed to analyze real-time, circuit level energy usage for large organizations and portfolio managers. CircuitMeter’s software can identify unnecessary and inefficient equipment usage at the circuit level, enabling users to better manage their consumption and reduce costs. The technology’s low price per circuit could enable widespread granular metering, down to the individual circuit, to be deployed with an attractive projected ROI. Industry would be able to meter all electrically powered equipment and implement a “Continuous Energy Audit” regime to drive precision maintenance practices. With vital data in hand, management could understand energy usage, power factor and demand peaks, and develop cost-saving practices and solutions never possible when granular data simply wasn’t affordable, or “visible.”

 Upcoming Community Partner Events

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Join AEE’s 6th Annual Pathway to 2050 | Sacramento, CA | August 8, 2018

Last call to register for Advanced Energy Economy (AEE)’s Pathway to 2050, California’s most comprehensive advanced energy conference. The event brings together an influential group of advanced energy business leaders and state policy-makers to discuss opportunities to accelerate California's economy through the growth of advanced energy. This year’s program will grapple with the latest issues and opportunities facing advanced energy in California, including California’s leadership transition; CCA expansion; Western states joining forces on climate and energy; financing the transition to zero-emission transportation; and meeting reliability with a 100% clean grid.

Use the special discount code P2050CTG to receive 10% off when you register.
 CTG Job Openings
Content Marketing Manager
We're hiring! We are looking for an outstanding content marketing manager to join our Sales & Marketing team. Learn more about the position and how to apply here.

Events Intern – Fall/Winter 2018
We are looking for an events intern who will be working closely with our events team to primarily support the organization of our flagship event, Cleantech Forum San Francisco, held on January 28-30, 2019. The internship may also include work on other CTG events throughout the fall. Learn more about the position and how to apply here.

 Upcoming CTG Events
Connect in Person with the Global Ecosystem
2nd Annual Blockchain Summit Cleantech Forum Asia CleanConnect
October 24, 2018
New York, NY
November 13-14, 2018
November 15-16, 2018
Nanjing, China
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We hope you can join us! Questions?

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