Library House’s announces formation of “Cleantech 100” for Europe

Following disappointing cleantech investment figures recently released by Library House for Q1 2008, and in response to the cries of a lack of quality investment opportunities in cleantech, Library House is combining its proprietary data with the rigour of an external expert panel to identify the best 100 private cleantech companies in Europe. By combining an assessment of growth potential and environmental impact potential, these companies will represent 100 of the companies most likely to change the world.

The list will act as a benchmark for all that is good in European cleantech, and include both well funded cleantech stars, and the more off the radar candidates that have disruptive platforms with the potential to revolutionise the sector. The “Cleantech 100” will feature in the event Essential Cleantech 2008 – London 25th September 2008, the Library House 2008 Cleantech report, and top tier national publications have expressed significant interest. For more information on opportunities to contribute, feel free to contact one of the Library House conference team.

European cleantech still finding its feet

Whilst the European venture investment sector as a whole showed recovery in Q1 2008, European cleantech investment showed a sharp fall with €122m disclosed investment, compared to the dizzy heights of Q4 2007, where a record €255m investment was disclosed. So is this a sign of fickle investors turning their back on the sector, or simply a blip in the figures as investors take stock?

Closer inspection reveals it is more likely to be the latter, as whilst disclosed investment fell sharply, the actual number of deals remained respectably high at 41 in this quarter compared to 46 deals in Q4 2007. When accounting for the fact that the actual disclosure of deal value dropped from 70% of deals in the last quarter, to 56% of deals in Q1 2008, the actual fall in investment is likely to be less dramatic than figures suggest.

Across the pond, Q1 2008 investment data in cleantech has been described as robust, with Ernst & Young making comparisons with the same quarter last year, where there has been a growth by 18% to €369m ($571.6m) compared with €312m ($483.9) in Q1 2007. This is a positive sign that appetite for cleantech investing is still apparent. It is anticipated that the longer term trend in Europe and US will show investment growth, all be it more conservative, but fluctuations in quarterly figures are inevitable as this immature sector finds its feet.

But concerns that the sector is over hyped and over funded still remain, with increasing noise about a lack of quality investment opportunities, and impatience over the timeline for returns. As these concerns grip the sector, investors are beginning to look more creatively at how they define cleantech to try and uncover new opportunities.

With this trend in mind, some investor definitions are stretching to include noise pollution, visual pollution, and similar negative externalities within their classification of cleantech. This reveals the paradox of wind turbines where for some they represent an icon of clean energy, whilst for others they are a blot on the landscape, and as such a form of pollution in their own right. Given this, would a company developing novel coatings that camouflage such visual pollution represent a justifiable investment for a cleantech fund? It is likely that as this relatively young sector evolves, so too will the boundaries that define it.

With the hype being gently quenched, but enthusiasm remaining high some sense of perspective is starting to develop for cleantech observers and investors. Explosive growth is not sustainable, but perhaps now a more measured spell of investment growth may ensue in cleantech, which is surely preferable to a boom and bust.

Ubidyne, the Germany and US-based developer of digital radio technology for the wireless industry, has raised $34m (€22m) in series B funding from Doughty Hanson Technology Ventures, previous investors Accel Partners and TVM Capital, and new investor Bay Tech Venture Capital. Ubidyne has developed standards-agnostic micro-radio technology for integration with wireless antennas which are compatible with current and next generation mobile standards.

CoreOptics, the Germany and US-based developer of subsystems for ultra high-speed optical networking applications, has raised $35m (€16m) from existing investors GIMV, TVM Capital, Cresendo Ventures, High Tech Private Equity, T-Com Venture Fund and Quest for Growth. CoreOptics provides tunable MSA Modules and IC solutions for the 10 Gbit/sec and 40 Gbit/sec Metro, Regional and Long Haul optical data networking market. The funding will be used to complete the company's near-term product development programmes, to ramp up manufacturing targets and expand the global sales team.

Wyplay, the France-based designer and manufacturer of home entertainment devices and platforms, has raised $10m (€6.4m) in second round funding from Elaia Partners, A Plus Finance and existing investor, Sofinnova Partners. Wyplay has developed a modular Media Centre Platform for OEM and ODM customers specialising in Media HDD, DVD Player and Burner, ADSL TV decoder and connected TV. The funding will be used to accelerate international growth and the company's R&D programme.

More companies' intelligence at www.libraryhouse.net

ZYB, the Denmark-based provider of mobile data back-up solutions, has reached an agreement to be acquired by Vodaphone for £25m (€31.5m). ZYB has developed an online management tool that enables mobile users to securely back-up contact and calendar information, and connect with fellow users. ZYB will remain headquartered in Denmark and will be incorporated into Vodaphone's Interner Services Division upon completion of the acquisition.

Borean Pharma, the Denmark-based biopharmaceutical and protein engineering company, has been acquired by Roche for an undisclosed amount. Borean Pharma has developed a proprietary protein technology platform that enables it to use tetranectin, a native human plasma and tissue protein, as a vehicle for the creation of advanced fully human antibody analogue products. The acquisition follows an agreement in 2006, in which Roche obtained exclusive rights to develop and commericialise Borean Pharma's product, Trimeric Apo A-I.

More companies' intelligence at www.libraryhouse.net

ensembli, the UK-based internet news website, has appointed Michael Wheatley as chief executive. Prior to joining ensembli, Mr Wheatley was chief executive at Envisional, a position he'd held for two and a half years. Before that, Mr Wheatley held various senior positions in Europe, North America, the Pacific Rim and South Africa, working for companies including: Brightware, Durham University Business School, the University Of Leeds, Plessey, Shell International and Inference.

Spectraseis Technologie, the Switzerland-based baser provider of low frequency seismic geophysical technology for the oil and gas sectors, has appointed Vassil Bliznakov to the position of chief financial officer. Mr Bliznakov has worked in the financial sector of the oil and gas industry for over ten years. Mr Bliznakov joins Spectrasesis from Schlumberger, where he held the position of financial controller, Continental Europe. Prior to this, Mr Bliznakov worked as Schlumberger's South Russia regional controller.

LiPlasome Pharma, the Denmark-based developer of prodrug and drug delivery platforms, has appointed Dr Mogens Madsen as chief scientific officer. Prior to joining the company, Dr Madsen was the head of biochemistry & cell biology at LEO Pharma, where he was responsible for the in vitro part of drug discovery activities. Before this, Dr Madsen spent 8 years at the Danish Cancer Society Research Institute, specialising in basic breast cancer research.

More companies' intelligence at www.libraryhouse.net

Mobile Devices Ingenierie, the France-based provider of GPRS, GPS, Telematics and Navigation Devices for fleet management applications, has informed Library House that the company is seeking to raise between £4m and £8m (€5m and €10m) in order to build the company's stock. Mr Aaron Solomon, the Chief Executive, President and Co-Founder of Mobile Devices Ingenierie, revealed that the company intends to begin fund raising in Q1 2009.

microNet Automation, the Germany-based provider of development and automation platforms, has revealed to Library House that the company will be seeking between £2.4m and £4m (€3m and €5m) at the end of 2009. Dr Jurgen Hertel, the Chief Executive of microNet Automation, informed Library House that the capital would be used for further engineering, in areas such as software, and to establish the company's global marketing strategy. Dr Hertel also stated that the company expects to reach profitability in 2009 and would look to exit in approximately five years.

More companies' intelligence at www.libraryhouse.net