Date post: | 31-Oct-2014 |
Category: |
News & Politics |
Upload: | burton-lee |
View: | 2,087 times |
Download: | 0 times |
Nordic Green II,
Funding Innovation in
the Nordics
Erik Olsson
Department of Business
Development and New Venture
Projects
The Swedish Energy Agency
The Swedish Energy Agency
• Established in 1998
• Main Swedish Government Agency for implementing energy policy
• Facilitates the transformation towards a sustainable energy system
• Promotes new energy technology and energy efficiency, administers Energy R&D programs and disseminates knowledge and information
• Mission is to promote the development of Sweden’s energy system so that it will become ecologically and economically sustainable… a smarter use of energy.
• 250 employees at the Agency.
• Budget 2010: 2.5 Bkr (~ 350 M$)
International
• The Swedish Energy Agency is working to promote development in the fields of energy and climate in selected countries
• Through bilateral agreements the Agency cooperates, among others, with Brazil, China, India, Ukraine, Poland and the United States on research in the field of energy
• ”SAGA”, the Swedish-American Green Alliance
• MOU with California
Six Focus Areas
Swedish Energy Agency
Policy
Research
Innovation
Primary Energy Resources
Energy Carriers
Energy Recycling
Energy
Transformation
Distribution
and storage
Energy Services
The Energy System Sustainable use
Policy incentives for energy technology development in Sweden
• High carbon taxes for heating since 1991
• Deregulated electricity market since 1996
• Trading certificates based on quotas for use of electricity from renewable production sources since 2003
• Tradable emission permits for CO2 since 2005
• A high system know-how from a policy and technology perspective
• Technology solutions that are based on integrated system thinking
BNP in relation to emissions
0
20
40
60
80
100
120
140
160
1990
1991
1992
1993
1994
1995
1996
1996
1998
1999
2000
2001
2002
2003
2004
2005
2006
Year
Ind
ex y
r 1990=
100 CO2e
GDP, fixed prices
SO2
NOx
VOC
GDP in relation to emissions
SOLOUTIONS
FOR FINANCE
MARKET &
ECONOMY
Our offer to the start-up companies
Offer
• Financing
• Business Development
• Network
• ”Packaging”
Tools
• Soft loans
• Competence
• Network
TEAM
Financing of Energy Innovations
• Supports Research & Development & Demonstration
• International mechanisms like emissions trading and CDM/JI
• Public procurement
VERIFIED
UNIQUE
TECHNOLOGY
Good early dealflow
- 100 Companies/year - DD
- About 15 investments/year
Results - Examples
Tanks for your attention!
Erik Olsson
www.energimyndigheten.se
www.swedishenergyagency.se
Three of the major challenges in Sweden today:
• “The Swedish Paradox”
• Lack of VC Capital for
early stage companies
• The need of larger
amount of money in a
early stage
1. “The Swedish Paradox”
• The Good News:
– Sweden tops the Innovation
Capacity Index Rankings 2009-
2010 (Innovation for
Development Report)
• Huge investments in R&D and
high tech companies do not lead
to more innovation, productivity
or profit
- “The Swedish Paradox”
• R&D is only one of many factors underpinning the
knowledge based society
• R&D is important, but the objective must be
company learning, not more R&D in and for itself
• Companies that are able to find, understand and
make use of new technology successes
• Policy makers must scrutinize all policies that
influences learning and innovation in firms,
including general framework conditions
2. Lack of VC capital for early stage companies
Critical sector
Close the gap!
EBAN -“Business Angel investing across Europe”, 2009-11-21
Capital Needs
RiskFriends,
Family &
Founders
Business
Angels
Venture
Capital
Funds
IPO
Early stage
and seed
venture
funds
The Agency’s soft loans
Later stage and
less investments!
Concentrate
on!
- Finding other investors!
3. The need of larger amount of money in early stage
• <1 M$ for lab verification
• >10 M$ for full-scale demonstrations
- The call for second-generation biofuels and other energy technologies
• ~ 40 applications
• 5 companies assigned (Chemrec, Södra Cell, GoBiGas, Volvo, Seabased)
• Governmental funding total ~100 M$
- Continue the education of the investment community
• Hosting seminars and investment forums
• Branch building/Networking
• Risk sharing initiatives
• Publications