IRIS Forskningsinvest AS IRIS R&D Commercialisation and Investment 1 June Torkell Gjerstad

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1 IRIS IRIS R&D Commercialisation and Investment 1 June Torkell Gjerstad

2 Things you should know about IRIS % 6 % 6 30 x of IRIS profits of IRIS revenues from FI companies Net gain investment mill. 80 mill. 80 companies in the FI portfolio net gain last 7 yrs expected net gain todays portfolio 13/87 13/87 % value split UiS/IRIS 50/50 50/50 % value split Biotec/Energy % owned by IRIS AS Numbers reflect or present situation

3 Why commercialise? R&D funding We need Limited companies to attract NCR funding, and later they become IRIS R&D clients Make IRIS stronger Robust finances with room to maneuvre Adhere to NRC policy Commecialisation is vital Vehicle for technology distribution Hey, it s being used! Technology sustainability Business drives development Attract industry funding All R&D should have a commercialisation plan Financial reward for IRIS scientists Smarter and richer We re serving society Safer, cleaner, better world It s fun!

4 Today s portfolio Present value # Selskaper Eierandel IRIS- FI Balanseverdi pr Estimert verdi IFI andel Virksomhet Område Status Opphav 1 Sekal AS 33,4 % Real time decision support and drlg rig control systems Energi Aktiv IRIS 2 Badger Explorer ASA 2,9 % Biota Guard AS 55,0 % New method/device for hydrocarbon exploration, which drills and buries itself into the underground. Real time systems based on biosensor technology to monitor effects of E&P activities. Energi Aktiv IRIS Biomiljø Aktiv IRIS Origin 4 Bioprotein AS 33,3 % Production and commercial application of bioproteine products. Biomiljø Aktiv IRIS 5 Plastid AS 30,5 % Production of standard proteins and design of new proteins and enzymes. Biomiljø Aktiv UiS 6 Hole In One Producer AS 100,0 % Nytt konsept for langtrekkende boring av produksjonsbrønner. Energi Aktiv IRIS 7 IRIS-Software AS 100,0 % Lisensiering av software utviklet ved IRIS. Energi Aktiv IRIS 8 GenderGuide AS 50,6 % Novel solutions for gender specifications in aquaculture as well as agriculture. Biomiljø Aktiv IRIS 9 Tectonor AS 25,0 % Consultancy research services for tectonic modelling Energi Aktiv IRIS 10 IOR Aqua AS 55,0 % Solutions for higher effect from water injection offshore. Energi Sovende UiS 11 Petroleum Technologies 30,0 % Konsulentselskap med virksomhet i Russland Energi Aktiv IRIS Blue ones not included IRIS % UiS % % Area Energy % 12 Solid Solutions AS Bitumen-basert fugemasse Annet Under avvikling IRIS Biotec 7 37 % 13 GeoKraft AS 100,0 % Geotermisk energi / boring Energi Sovende IRIS 14 Eco Inhibitors AS 33,0 % Miljøvennlige kjemikalier for rørtransport Energi Aktiv UiS 15 Biopartner AS 100,0 % Konsulentvirksomhet innenfor miljørådgivning Biomiljø Sovende IRIS 16 Biosentrum AS 100,0 % Fermentering for F&U og produksjon Biomiljø Sovende IRIS 17 IOR Chemco AS 22,3 % SocioLink AS 100,0 % Technology to reduce water production and increase oil production Real time HSE for improved organizational monitoring, learning and performance. Energi Aktiv IRIS Other Sovende UiS 19 Akvamiljø Caspian AS 36,4 % Laboratorium i Baku. Leverer analyser til BP Biomiljø Aktiv IRIS 20 Blue Planet AS 2,7 % Nettverksselskap innen marint oppdrettt 21 Prekubator TTO AS 28,2 % Stavanger Helseforskning AS 45,0 % Ullandhag Energi AS 5,0 % Energi til eierne TOTALT: Technology Transfer Office (TTO) for IRIS, UiS, Stavanger Universitetssykehus (SUS) og Norconserv Stavanger Helseforskning har som ambisjon å bygge opp et solid miljø for helseforskning i Stavangerregionen. Present value = Net gain NOK 42 mill Blue ones not included Other 2 11 % Value % Energy % Biotec % Other % % Snitt: 47,3 %

5 Two alternative in-roads Idea Start-up R&D Examples: Badger, Hole-in-One Producer Advantage: straightforward to ascertain research funding sponsors up-front Risk: R&D does not produce a commercial basis R&D Idea Start-up Examples: Sekal (DrillScene/DrillTronics), IRIS SW portfolio, Tectonor, Bioprotein Advantage: certainty that technology can be realised Risk: technology market acceptance and funding

6 Three examples from current portfolio

7 Alarm With IRIS SW With Sekal AS Drilltronics DrillScene elad s Virtual Rig BlowFlow Risk Commercial Applications E&P Computer Model Standard Graphs Standard data source access Calibration methods Standard GUI Mathematics Library Continuum Medium Physics Hydraulic Model Mechanical Model Heat Transfer Model IRIS Base Technology t t+20min t+40min t+60min t+80min t+100min

8 Hole-in-One Producer Key concept: Drill and complete without casing Produce through drill string Longer reach and less costs Main activities in 2012: Engineering, building and testing a prototype traction unit Design and wear tests on optimized rubber packer units Conceptual design of control system, bottom hole assembly (BHA), BHA retrieval Patents: Achieved patent in Norway 2010 Achieved patent in UK 2012 Application in progress: Canada, USA and Brazil The traction unit

9 Biota Guard AS: A unique value proposition answering the needs of the O&G industry Early warning leak detection Superior sensitivity compared to field proven conventional sensors Quick response to reduce the consequences of an environmental incident Pinpointing the source by eliminating noise Long term environmental effect monitoring Unique ability to respond to a mixture or cocktail of contaminants Continuous monitoring in real-time enables detection of chronic effects Factual based response to strict regulation Creating baselines for the environment