2 nd Israeli-German Conference on the Commercialization of Future Technologies. Organic Photovoltaics turn a great idea into a great company

Transcription

1 2 nd Israeli-German Conference on the Commercialization of Future Technologies November 11, 2010 Organic Photovoltaics turn a great idea into a great company Dr. Andreas Rückemann CEO Heliatek, Dresden, Germany 1

2 Overview Seed phase: Support for a start-up 3 Why OPV-the third generation photovoltaics 1) 4 Why Heliatek 5 Growth phase: support for first production 11 1) OPV: Organic Photovoltaic 2

3 Seed phase: support for a start-up What Heliatek did to start its enterprice Idea during PhD: organic LED turn current into light can we use the effect vice versa? Organic Photovoltaics (OPV) was born Basic patents filed (University support) Saxony state funds for Business Plan How to create a company? Business Angel Network Seed money for foundation Good story? High Tech Gründerfonds(state and Industry owned fund) will look at it. Series A Round German Industry is R&D driven and interested to invest VCs are catching up 3

4 3rd generation PV will gain market share due to better total price performance 1st Generation PV -will survive for >15y 1) crystalline Traditional reliable efficient -expensive ( /Wp) 2nd Generation PV - market restructuring Thin film (CdTe, CIGS, a-si, a-si / µ-si) New less efficient CdTecheaper ( /Wp) World PV Production 2009 (%) 1) CIS & Others Poly Si Mono Si CdTe 84% a-si / µ-si CIS Other Crystalline Si 3rd Generation PV - long term winner Organic or hybrid (OPV, DSSC) Emerging targets: 50% cost at same efficiency of 2nd Conversion efficiency in % /Wp 10 0 Module cost competitive electrical power 0.60 /Wp 0.50 /Wp 0.80 /Wp /m /Wp (Module cost) Heliatek s cost target at lower limit of OPV World PV Production 2020 (%) 5% Crystalline Si 1) 2 nd Gen expected to gain 20% market share in 2010ff 4

5 Why Heliatek? In 2006, HTGF made a very early, very wise decision and invested into a company that had: A brilliant idea but high risk, as it had No market and helped turning it in 3 years into : A brilliant asset with lower risk, high recognition and higher value No money No product Several potential markets Basic team No equipment No site 0.5 Mio finance experience strategic guidance recognition SUPPORT 18 Mio. for 1st plant Large customer interest R&D experience Industry team Own Plant in 2011 Rented site Multiple experience Heliatek confidential information 5

6 Now, after the technology lead, Heliatek is striving for the commercial lead Where Heliatek will be mid-term Global leader in OPV sales and significant player in PV > 300 Mio. Turnover Where Heliatek is Today Global leader in OPV performance: 8,3% cell efficiency Markets: Industrial Roof, Building Integration, others Low Prod. cost: < 0.4/Wp Low Capex: 0.2 / Wp 10% module efficiency 7,2% module efficiency (active area) >30 years extrapolated lifetime behind glass * OPV: Organic Photovoltaics Heliatek confidential information 6

7 Heliatek s key success factors: a unique combination Meet customer expectation Commercial Success Market size: < 3 Bn. Well funded Focus on Customer needs Excellent team and shareholder Company success factors Flexible (Design freedom) 10% efficiency, >20 years lifetime Product success factors Low weight (0,5 kg/m²) Truly semitransparent (Option) Affordable price Patented OPV Physics & Chemistry non-toxic low temperature process steep performance progress Heliatek confidential information Technical success factors 7

8 HTGF s early investment enabled Heliatek s foundation and early access to blue chips What makes Heliatek a different start-up: it has maintained its milestones since 2006 All actions in time: - Business Plan & Market strategy - Key hires: experts from industry -Product development with key customers started; LOI by Q4/ Production site in Germany - Equipment ordered Commercial Technical Cell efficiency milestones 1% 3% 6% 2009 >8% Equ. order FAT Sales All milestones anticipated or overachieved in time target was 7% Financial 2006 Seed Financing 0,6 Mio. Euro HTGF + Business Angel 2007 Round A 4,7 Mio. Euro + BASF + BOSCH + Wellington P 2009 Round B 18 Mio. Euro + RWE + e-capital + TGFS + GPBullhound HTGF enabled Heliatek sfoundation and early access to blue chips Heliatek confidential information 8

9 Organization Dr. Andreas Rückemann CEO 15 years of industrial experiences (Evonik, Degussa Novara Technology) Broad experience in chemistry, economics, strategy, M&A, production and 7 years as CEO Started at Heliatek in Nov 2008 Dr. Martin Pfeiffer CTO Experienced as the head of the solar cell and OLED team at the Institut für Angewandte Photophysik (IAPP), TU Dresden, from 2000 to 2005 Pioneer of the doping technology for organic devices Employee structure Heliatek ( ) Ulm (chemistry) Dresden (technology) Management and administration Total Total Robert Bosch GmbH BASF Venture Capital GmbH Wellington Partners RWE Innogy High-Tech Gründerfonds E-capital Technologiegründerfond Sachsen GP Bullhound Heliatek confidential information 9

10 Heliatek can hardly find a better place for its further growth Excellent Network Customers R&D Suppliers Competitors Excellent Support Funding Recruiting Services Excellent quality of life Attractive location International Reputation Source: - MICRO! 10

11 Conclusion on Heliatek Mission: History: Basis: Finance: Development and production of organic solar cells today global technology leader Founded in 2006 from Uni Dresden & Ulm with HTGF funds Excellent industrial team, shareholding, partners and R&D technology Successful Round B fundraising in 2009 : 18 Mio. Euro Timeline: Transfer from R&D to manufacturing: First commercial shipments in Q Products: Flexible, light weight, semi-transparent, reliable, easy to install, moderate cost Other USPs: Low capex/wp, non toxic, abundantly available raw materials Markets: Consumer electronics (entrance), Industrial roof, Building integration etc. Mid term: >400 Mio. Euro turnover (aggressive scenario) 11

12 Growth phase: support for first production After Series A IP development needed German state R&D funding Saxony region R&D funding European Union funding Big hurdle of high invest with no revenue! Up to 50% investment funding from Germany only if entire invest is covered by own cash Series B required Good funding situation attracts also VCs Most important: convincing full package Framework gets important Employees Education Location Network Suppliers Etc. And have success by keeping your excitement while working 24h a day, have the right timing and some luck Invest in Germany, and during Round C into Heliatek? 12

13 Thank you for your kind attention. Heliatek GmbH, Treidlerstraße 3, Dresden Dr. Andreas Rückemann, CEO Heliatek, Tel , Mobile: