Please note that this is not a fully comprehensive report of all events, nor is it in any way a financial performance report. It is a summary of the main events that are public and that affect us and our portfolio during the quarter.
In the quarterly report we will not comment on every portfolio company every time but focus on portfolio companies where we feel the company has achieved milestones or had development that are worth reporting. To get a comprehensive view of individual portfolio companies’ businesses one should review additional documents such as the company description published earlier this year.
We are pushing hard to grow our international footprint and make Cleantech Invest a globally known listed share. During Q3 we have been actively utilizing our newly opened pop-offices in Berlin and Los Angeles.
The Berlin pop-office is the latest addition to our geographic reach. The German manufacturing industry (second in size only to China) has energy efficiency high on its agenda. Electricity costs for industrials are double that of Sweden and Finland, so pay-back times for energy efficiency projects are essentially cut in half. We have many companies in our portfolio that offer significant energy savings to industrials and households. The German market is highly suitable for most of them and we expect to see more than one launch here in the coming six months.
We believe in boldly going to where the markets are growing and where the selling points are clearest for that particular solution. Nocart is selling renewable power plants where electrification is proceeding fastest - Africa and South Asia, Swap.com is running the biggest online second hand store in the global shopping champion – USA, and Enersize is implementing industrial energy efficiency projects where it really counts, in the worlds manufacturing center – China.
Activity in the Los Angeles popup office has centered around meeting US industrials and investors and our companies have been well received there also. The need for solutions that can cut water use, and reduce energy consumption in industry and real-estate is pressing in California. We also look forward to broadening our shareholder base to US investors.
We believe that China is a greater opportunity now than it was ever before. Cleantech invest already has strategic Chinese investors on board. Strong local partners is a must and high on our agenda, as is the urgency of bringing cleantech solutions to the market in China. It is a country where the focus on driving carbon emissions per GDP down is at the centre of the political agenda from the highest levels of government down to every factory floor. We expect to see more of our companies launch there and we are working on setting up a pop-up office in the region.
The markets are clearly turning out to be receptive to what our companies deliver. We have two companies in our portfolio entering +10MEUR revenue this year and several more are expected to follow. We believe energy and resource efficiency and decentralized renewable energy – the sectors our companies operate in – will be among tomorrow’s most lucrative industry sectors.
Our main focus right now is making several of our companies ready for listing or exit. During 1-30.11.2016 we will carry out a share subscription based on warrants issued as part of the Stockholm First North listing in April 2016. More information on the subscription details can be found from http://www.cleantechinvest.com/emission .
These subscriptions, if utilized in full, will add approximately 800 000 EUR to our balance sheet. We will use the proceeds to accelerate our companies, and we believe it will add a lot of value.
We have finished the third quarter of a third consecutive year of very strong revenue growth. Compared to the first half year 2015, our companies grew revenue by 214% during the first half of 2016 and growth has continued into the second half. A couple of recent key developments from them include:
Cleantech Invest in brief
Cleantech Invest is a Nordic accelerator with investments in growth companies that solve global challenges. The portfolio companies are active in energy- and resource efficiency as well as decentralized renewable energy and are based in Finland, Sweden and Germany. The company management consists of company builders and investors who have been active within the cleantech space for over a decade.The company is listed on First North Finland under the ticker CLEAN and on First North Stockholm under the ticker CLEANT A.
Alexander Lidgren, Managing Director of Cleantech Invest Plc. Tel. 46 73 660 1007, email@example.com
Access Partners Oy, Certified Advisor. Tel. 358 9 682 9500
Malminrinne 1 b, 00180
Joshua B. Kirkman