InnoEnergyCentral EuropeAnnual Report2017
CONTENTS Welcome......................................................................................................................... 4 1. An Introduction to EIT InnoEnergy............................................................ 8 1.1 Mission, Vision and Values........................................................................................ 10 1.2 Key Facts......................................................................................................................... 12 1.3 Offices and Hubs Across Europe............................................................................. 14 1.4 Governance.................................................................................................................... 16 1.5 The Power of the Network: Building Connections throughout Europe........ 18 1.6 Financial Model............................................................................................................. 20 1.7 Think Global, Act Global.............................................................................................. 22 2. InnoEnergy Central Europe........................................................................ 28 2.1 Value Stream................................................................................................................. 30 2.2 Governance and Structure......................................................................................... 32 2.3 Financial Data for 2017.............................................................................................. 33 2.4 Central Europe Structure........................................................................................... 35 3. Key Achievements in 2017......................................................................... 44 3.1 Highway.......................................................................................................................... 45 3.2 Boostway........................................................................................................................ 49 3.3 Innovation Projects...................................................................................................... 52 3.4 Education........................................................................................................................ 56 3.5 Expanding the Ecosystem......................................................................................... 61 3.6 Authorities...................................................................................................................... 68 4. Outlook for 2018......................................................................................... 70 InnoEnergy Central Europe Annual Report 2017 3
WELCOME In conjunction with our network of partners we build connections across Europe, bringing together inventors and industry, graduates and employers, researchers and entrepreneurs, and businesses and markets.
WELCOMESUSTAINABLEENERGY FUTUREFOR EUROPEAt EIT InnoEnergy, the challenge we face is a formidable one,but our ultimate goal is simple: to achieve a sustainable energyfuture for all of Europe. Innovation is integral to the success ofthis endeavour, which means that we need new ideas, productsand services that make a real difference, and new businessesand new people to help deliver them to market.We support and invest in innovation at every stage of the journey,from the classroom to the end customer. In conjunction with ournetwork of partners we build connections across Europe, bringingtogether inventors and industry, graduates and employers,researchers and entrepreneurs, and businesses and markets.Our focus is broad, with our operations covering three essential»»areas of the innovation mix: Education to help create an informed and ambitious work- force that understands the demands of sustainability and»»the needs of the industry Innovation Projects to bring together ideas, inventors and industry so that they can create commercially attractive»»technologies that deliver real, tangible results to customers Business Creation Services to support entrepreneurs and start-ups who are working hard to expand Europe’s energy ecosystem with their innovative offeringsBringing these disciplines together helps to maximise theimpact of each, accelerates the development of market-readysolutions, and creates a fertile environment in which the resultsof our innovation can then be offered to customers.This report explores what we have been doing in Central Europeover the course of the past year, and will examine in detail thevarious projects we have been working on to build a successfulfuture for sustainable energy in this high-growth region. Diego Pavía CEO, EIT InnoEnergy SE President of the Supervisory Board, InnoEnergy Central Europe InnoEnergy Central Europe Annual Report 2017 5
WELCOME 2017 was a year that saw significant reorientation in pursuit of our goal, with InnoEnergy altering its principal focus from running business line operations into a greater emphasis on asset management, with the ultimate objective being monetising the value we created through our earlier investment.
WELCOME2017 EXECUTIVE by a significant increase in the scale of our operations,SUMMARY with the company now actively present in 13 Central European countries through its local affiliates andAchieving a sustainable energy future for Europe partners (InnoEnergy HUBs) with each of themthrough innovation is an ambitious and challenging being already a significant player in their nationalmission that InnoEnergy was set up to achieve, and innovation ecosystem.it does require special resources and approachesif it is to be truly successful. Yet regardless of the Last year also saw the first start-up from our Businesschallenges we face, InnoEnergy is a company and Creation portfolio in Poland, BIN-e, secure a privatehas to be run as such, with the objective of becoming investment (2 million PLN) to help bring its productsa self-sustaining organism itself in the medium and to market. BIN-e is an ambitious, innovative younglong term. 2017 was a year that saw significant business that designed and built the first intelligentreorientation in pursuit of this goal, with InnoEnergy rubbish bin that recognises, automatically segregatesaltering its principal focus from running business and compresses waste. Recently, BIN-e signedline operations into a greater emphasis on asset a contract to provide over 100 devices for a leadingmanagement, with the ultimate objective being recycling company in Europe. Another piece of excitingmonetising the value we created through our earlier news came from Latvia, where our start-up Hygeninvestment. (also running an innovation project CNGHRS with us), secured pilot projects for its CNG Home RefuellingSome of the companies from the Central European Station with three major global players: Volkswagenregion in which we have invested in previous years are Group, Gas Natural and South California Gas Company.already contributing to this pursuit, with businesses By providing cost-effective and convenient refuellingincluding Impact Batteries, MetalErg or AMC Tech infrastructure, Hygen is leading the way in makingalready selling their products worldwide and ensuring compressed natural gas vehicles a real alternativeour return on investment. to combustion cars and electric vehicles.2017 was also key in terms of operational matters A further highlight from 2017 was the successfulat InnoEnergy Central Europe. The change of the completion of the feasibility study and subsequentcompany’s name (from CC PolandPlus) was followed kick-off of the Polygen project with one of our key partners, Rafako. This project carries a great deal of significance for three reasons: it is a market- driven innovation; InnoEnergy not only decided to co-invest, but with the support of other European offices (France, Germany, Iberia) actively scouted for technologies and partners and co-created the value proposition from the beginning; and it is a strategic product (and partnership) for Rafako, which is looking to diversify its portfolio. Finally, we have been pleased to see that all these major initiatives, as well as our dynamic and proactive approach, have been positively received by the leading energy companies in our region, helping us to expand our reach in these areas. This is encapsulated by MOL Group, from Hungary, the second biggest company in the CEE region, decided to become a Golden Partner with InnoEnergy Central Europe, a partnership that was announced during the PowerUp! Grand Final in Budapest. Secondly, Rafako, which has been involved in InnoEnergy initiatives since the company first formed, became a shareholder of InnoEnergy SE, and the first industrial partner from Central and Eastern Europe. The fact that local players across the region support our work is encouraging for the future of sustainable energy business in the area. Jakub Miler CEO, InnoEnergy Central Europe InnoEnergy Central Europe Annual Report 2017 7
AN INTRODUCTION TO EIT INNOENERGY 01 AN INTRODUCTION TO EIT INNOENERGY
AN INTRODUCTION TO EIT INNOENERGYA SUSTAINABLE FUTURE FOREUROPE’S ENERGY SECTOR At EIT InnoEnergy, everything we do is about creating the right conditions for new ideas to flourish. We believe that Europe has the people and the ideas, resources and skills to build a fully sustainable energy industry. Our role is to bring all of these people and companies together.We connect people from across the continent to create for innovative new businesses and the solutions theynew, commercially attractive technologies. We help offer. We bring together knowledge, experience andopen up markets and cross borders to find customers expertise, no matter where in Europe it is located.EIT INNOENERGY BRINGS TOGETHER KNOWLEDGE, EXPERIENCE AND EXPERTISE 1 2 3knowledge experience expertiseChange often doesn’t come easily, and always requires and research and commerce. We help to plug skillsnew ways of thinking. With this in mind, our role is to gaps and fill market niches to maximise the potentialchallenge the status quo. Our focus is on de-risking of every EIT InnoEnergy student, every start-up, andinnovation and investment, making it more attractive every one of our customers.and encouraging more organisations to participate asa result. This helps bring about a wide array of new Sustainability runs through every aspect of our business.technologies, products and solutions which can then The success of EIT InnoEnergy depends on the successbe sold to global customers. of the entrepreneurs we invest in and the technologies we help to develop, as well as the products and servicesWe also know that big challenges cannot be solved in we produce in-house. By developing commerciallyisolation. With this in mind, harnessing the power of attractive solutions that have a real impact on thecollaboration is essential to what we do. We help to market, we add value to our customers, we ensure ourdevelop formal and informal partnerships between own long-term success and, most importantly of all,innovators and industry, entrepreneurs and enablers, we help to create a sustainable energy future. InnoEnergy Central Europe Annual Report 2017 9
AN INTRODUCTION TO EIT INNOENERGY1.1 MISSION, VISION AND VALUESOur mission is to build a sustainable, long-lasting framework that bindstogether the three main elements crucial to the development of theenergy sector: industry, research and higher education. We aim to ensurethat integrating these three areas results in a greater overall impact oninnovation (talent, technology and companies) than if the three workedindependently of one another. Our vision is to become the leading engine for innovation and entrepreneurship in sustainable energy. industry innovation and leading sustainableentrepreneurship engine energy higher research education10 InnoEnergy Central Europe Annual Report 2017
OUR CORE VALUES ARE LISTED BELOW: AN INTRODUCTION TO EIT INNOENERGY 1 Pan-European 5 Excellence- We devote equal -driven time to all parts of We strive to be the Europe, capitalising best at what we on its unique do, and to work diversity with people and organisations who 2 Integrative have the same We maintain philosophy an unwavering commitment to 6 Visionary cooperation in We are passionate a bid to integrate about thinking and synthesise beyond traditional all elements of boundaries and sustainable energy doing things that innovation have never been done before 3 Entrepreneurial We pride 7 Passionate ourselves on being We believe strongly entrepreneurs for in our work, and sustainability, and do everything in help others to do our power to help the same develop cutting- edge solutions and 4 Impact- deliver optimum -oriented results Everything we do is designed to have 8 Sustainable maximum impact We are here to stay. on the growth of We care deeply about sustainable energy creating a sustainable energy future for Europe InnoEnergy Central Europe Annual Report 2017 11
AN INTRODUCTION TO EIT INNOENERGY1.2 KEY FACTSEIT INNOENERGY IS THE 24 360+INNOVATION ENGINEFOR SUSTAINABLE Shareholders Project PartnersENERGY ACROSSEUROPEEducation 9/10 €15% Applicants Master’s Average annual graduates who salary earnings 11,3k to the EIT find a job within over graduates InnoEnergy six months of of similar Master’s School graduating programmes Gamechangers 640+ from the EIT InnoEnergy Master’s School200+ 50 29PhD students universities including and PhD graduates supported in 3 research 12 European centres in countries8 Professional 97% 81% 94% MOOCs would think that the think that their recommend course was expectations from the useful for their course have been met, to their professional and it was interesting friends or colleagues future and motivating12 InnoEnergy Central Europe Annual Report 2017
AN INTRODUCTION TO EIT INNOENERGY Business Creation Services 100+ 190+ Companies createdEarly start-ups supported 2,520+ €75.4 m Applications receivedExternal investment raised 77 Innovation Projects Patents filed3 90Manufacturingfacilities Products and services360+ supportedProjectpartnersacross Europe €3 b €1.4 b €170.5 mForecasted sales Total project costs EIT InnoEnergy investment InnoEnergy Central Europe Annual Report 2017 13
AN INTRODUCTION TO EIT INNOENERGY1.3 OFFICES ACROSS EUROPEAs part of our pan-European philosophy, we have established regionaloffices across the continent, enabling greater cooperation andcollaboration between those in industry, academia and research. OFFICES:Each of our offices provides a consistent level ofsupport in the key areas of Innovation Projects,Business Creation Services and Education, offeringa seamless level of service at every stage of theinnovation process.Our main office in Central Europe is located in Kraków,Poland. This office acts as a key point of reference forthe entire region, with staff here being responsiblefor the ongoing management of our wider networkof smaller HUBs.14 InnoEnergy Central Europe Annual Report 2017
AN INTRODUCTION TO EIT INNOENERGYInnoEnergy Central Europe Annual Report 2017 15
AN INTRODUCTION TO EIT INNOENERGY1.4 GOVERNANCEOur overall governance and management structure is depictedin the below diagram.EIT INNOENERGY GOVERNANCE STRUCTURE General Assembly Supervisory Board Executive BoardEDUCATION InnoEnergy InnoEnergy InnoEnergy InnoEnergy InnoEnergy InnoEnergyINNOVATION France Iberia Germany Central Sweden SE ExecutivePROJECTS Europe TeamBUSINESSCREATION16 InnoEnergy Central Europe Annual Report 2017
AN INTRODUCTION TO EIT INNOENERGYEIT INNOENERGY EXECUTIVE BOARDDiego Pavía Dr. Christian MüllerChief ExecutiveOfficer CEO InnoEnergyBart de Beer GermanyChief Financial Mikel LasaOfficer CEO InnoEnergy IberiaElena Bou Jacob RuiterInnovation CEODirector InnoEnergy BeneluxProf.Dr.ir. Jakub MilerFrank Gielen CEOEducation InnoEnergyDirector Central EuropeRichard KennethBiagioni JohanssonCEO CEOInnoEnergy InnoEnergyFrance Scandinavia InnoEnergy Central Europe Annual Report 2017 17
AN INTRODUCTION TO EIT INNOENERGY1.5 THE POWER OF THE NETWORK:BUILDING CONNECTIONSTHROUGHOUT EUROPEEIT InnoEnergy strength andtogetherness come fromour Europe-wide networkof partners. They are theexperts that we rely on forknowledge and guidance,our service providers, theearly adopters of innovativesolutions, and the employersof our talented graduates.Our network includes our 24 shareholders, aswell as over 360 associate and project partners.Their role is to support our entrepreneurs withtheir invaluable experience and expertise. Inreturn, they gain unparalleled opportunitiesto invest in new ideas and create commercialopportunities for new products and solutions.Together, our partners represent the verybest of industry, research and higher ed-ucation in Europe, and all are key playerswithin the energy sector.18 InnoEnergy Central Europe Annual Report 2017
AN INTRODUCTION TO EIT INNOENERGYInnoEnergy Central Europe Annual Report 2017 19
AN INTRODUCTION TO EIT INNOENERGY1.6 FINANCIAL MODEL EIT Funding in M€90 83 85 80 7680 71 73 70 7070 63 6060 5650 4440 353020100 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 *ongoing FP9 negotiations 100M impact fund Ongoing process Value multiplier: How many € of value from 1€ of costHighway 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024BoostwayInnovation Projects x1,8 x1,8 x2,5 x4Master School x1 x1 x2 x2,5Online Education x0,5MarketCreator x1,5 x2,5 x3Consulting & others x0 x0,5 x1 x0 x0,5 x1 x1,5 x0,5 x2 x3 x5 x1 x1,4Business lines evolution Launch & learn Growth Up-positioning Harvest20 InnoEnergy Central Europe Annual Report 2017
AN INTRODUCTION TO EIT INNOENERGY Diego Pavía, CEO, EIT InnoEnergy SE The KIC model proved to be successful in the previous years and most probably EIT will remain the key financial contributor in the next EU financial framework. Yet only through monetization of its asset, the current growth rate and the financial stability can be maintained. Forecasted investment capacity200180 Annual investment 176160 capacity 154140 143 128120100 101 108 107 9380 71 7660 56 OPEX40 44 352008 9 11 11 12 13 14 14 14 14 15 15 15 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 InnoEnergy Central Europe Annual Report 2017 21
AN INTRODUCTION TO EIT INNOENERGY1.7 THINK GLOBAL, ACT GLOBALWhile EIT InnoEnergy is passionate about encouraging innovation andcontributing towards a sustainable energy future in every local region inwhich we operate, we are equally passionate about ensuring that we thinkon a global scale, not just a regional one. This is the basis for our ThinkGlobal, Act Global philosophy.We believe that the companies, academics and about how their ideas can make a positive differencelearners that we work with should not be limited internationally. This way of thinking should permeatepurely to within the borders of their own country everything that we do, whether it is writing an RFP,when it comes to driving initiatives. People should seeking new suppliers, meeting potential customers,be encouraged to think well beyond this, and to think or sharing successes on social media.EUROPEAN BATTERY ALLIANCE Maros Šefčovič,Based on the experience in the field of supportingbatteries and storage innovations, EIT InnoEnergy Vice President of thewas asked, with the support of the European Political European Commission forStrategy Centre (EPSC), to organise a workshop with Energy Unionprominent European industrial representatives fromthe battery value chain. The purpose was to issue We need to continue itsa set of recommendations on how the European Union groundwork in partnership withwould capture a significant proportion of the entire the EU industry, academia,value chain of the rapidly expanding battery market. and financial sectors, with a view to delivering firstThe recommendations were presented by EIT InnoEnergy recommendations on enablingCEO, Diego Pavia, at a high-level meeting on batteries framework conditions.held in Brussels on 11 October 2017. This was followedby a letter from Vice-President Šefčovič on 15 October2017 asking EIT InnoEnergy “to continue its ground-work in partnership with the EU industry, academia,and financial sectors, with a view to delivering firstrecommendations on enabling framework conditions”by March 2018.Since this request, EIT InnoEnergy has led the industrialwork stream (known as EBA@250) in conjunction with120+ European and non-European stakeholders fromacross the entire value chain. These stakeholders alsoparticipated in two plenary meetings organised byEIT InnoEnergy in December 2017 and January 2018,and have contributed to the design and content of49 actions that have been identified as necessary bythe European Battery Alliance, to make the EU a keyplayer in the rapidly expanding global battery market.This is estimated at 250B€ annually from 2025 onwards.By 2018, EBA is expected to enter into the implemen-tation the 49 actions.22 InnoEnergy Central Europe Annual Report 2017
AN INTRODUCTION TO EIT INNOENERGY RecyclingB2B Anode B2C Separator Cathode Raw Active Cell Modules/Pack Platforms/EV materials materials ESS, industry InnoEnergy Central Europe Annual Report 2017 23
AN INTRODUCTION TO EIT INNOENERGY Dr. Bertrand Piccard,TBB. Explorer, Chairman,EIT InnoEnergy, celebrated a record year after welcom- the Solar Impulseing more than 700 visitors to the RAI in Amsterdam, Foundationthe Netherlands, for its annual innovation event, TheBusiness Booster (TBB). A business booster in cleantech shows that protectingConference and exhibition presented a stellar line-up the environment is somethingof VIP guests, including HRH Prince Constantijn of the profitable, and this is helpedNetherlands, Maroš Šefčovič, Vice-President European by the solutions here.Commission in charge of Energy Union, and Dr. BertrandPiccard, Initiator Chairman of the Solar Impulse Foundation(the sole backer behind the World Alliance).Throughout TBB, 115 companies participated in livepitching sessions in a bid to win a €10,000 prize to in-vest in their innovation. Five companies were selectedby the audience to progress to a final round and presentto a panel of industry experts and investors. The eventculminated with first prize being awarded to Turbulentfor its smart, small-scale and decentralised hydropowerplant. In contrast to traditional plants, Turbulent hascreated an easy-to-install turnkey product to deliveraffordable, reliable and clean electricity to even the mostremote parts of the world. Two runners up – SwedishAlgae Factory and WW Wohnwagon – were awardedprizes of €3,000 each.24 InnoEnergy Central Europe Annual Report 2017
AN INTRODUCTION TO EIT INNOENERGYNorthvolt is a Swedish company specialising in the Peterproduction of lithium-ion batteries founded by two Carlsson,former Vice Presidents of Tesla Motors, Peter Carlssonand Paolo Cerruti. To assist its continued growth and CEO and Co-founder,to help place it at the forefront of innovation in its Northvoltsector, EIT InnoEnergy invested €3.5 million to supportthe construction of Europe’s first large-scale battery EIT InnoEnergy is thefactory. The final facility will have a production ca- gateway to the largest andpacity to rival that of Tesla’s US gigafactory by 2024. most valuable innovation ecosystem in Europe. TheOnce completed, the new factory will enable Northvolt investment will support usto form new international partnerships, and the link in realising our vision ofwith EIT InnoEnergy will give the company access creating Europe’s largest-to a pan-European network to support Northvolt’s scale battery cell productionefforts to attract further investment. The facility will facility. But, more thanalso support thousands of jobs throughout Europe, that, EIT InnoEnergy’s vaston both a direct and indirect basis. network has the power to support us for years to come.The battery factory will produce competitive batterycells for electric cars, energy storage and other elec- Northvolt chose the Nordic region for the batterytrical powered products and applications. factory because of its access to necessary materials and metals, availability of affordable and fossil free“The development of a European large scale battery power supply and its modern infrastructure. Oncefactory will be revolutionary, especially in terms of the factory is active, it will also support thousandselectrification of transport – which in itself could dras- of direct and indirect jobs in Europe.tically reduce Europe’s carbon footprint,” adds DiegoPavia, CEO of EIT InnoEnergy. “The benefits can also go Thinking globally was a central consideration for usbeyond supporting the transition to electrification. By on this project. By supporting innovation at Northvolt,considering the deployment of battery-based energy we are confident that the international impact willstorage at all levels of the electricity network, we can be significant.also see that this battery factory will add value to thegrid while maximizing the integration of renewableenergy. This fits perfectly with EIT InnoEnergy goalto achieve a sustainable energy future in Europe.” InnoEnergy Central Europe Annual Report 2017 25
AN INTRODUCTION TO EIT INNOENERGYEOLOS is a Spanish-based start-up company which Rajai Aghabi,has a strong presence in Central Europe. It specialisesin LiDAR (Light Detection and Ranging) technology, CEO, EOLOSand recently launched the first-ever floating LiDARin the Polish-Baltic region. By launching the first floating LiDAR into the Polish-BalticThe buoy has been designed to cost-effectively territory, we are not onlyprovide wind, wave and tidal data over a two-year helping our customer toperiod, which will then be used to inform the precise optimise the developmentspecifications for a 1GW offshore wind farm that has of a new wind farm, but webeen planned by PGE Energia Odnawialna, around are also enabling Poland32km from Łeba in the Polish Exclusive Economic to take another stepZone in the Baltic Sea. The solution integrates best- forward in its transition toin-class LiDAR technology with a robust structural renewables. Furthermore,skeleton which enables it to withstand rough marine we are announcing our ownenvironments. transition from an innovative start-up into a true industryEOLOS’ technology will play a leading role in further player, leading the way inraising the profile of renewable energy sources in measurement for offshorePoland, and we are proud to see an EIT InnoEner- wind across the continent.gy-backed company grow from an ambitious youngstart-up to a truly disruptive force in the industry.26 InnoEnergy Central Europe Annual Report 2017
AN INTRODUCTION TO EIT INNOENERGYSkeleton Technologies is a global leader in graphene-based Taaviultracapacitors and energy storage systems, founded Madiberk,in Estonia and since expanding into Germany. By usinga revolutionary new material in graphene, Skeleton aims CEO, Skeletonto truly shake up the energy storage industry and help Technologiespave the way towards a sustainable future. The investment that weThe company has been working with EIT InnoEn- were able to make inergy since 2014, when it was able to manufacture expanding our productionaround 1,000 units per month with a variety of ap- line is indicative of theplications. Following a €4 million investment from EIT demand that we are seeingInnoEnergy, Skeleton was able to scale up its research for ultracapacitors fromand production efforts, culminating in the completion of a huge variety of industries,a new manufacturing facility capable of producing four including the automotivemillion ultracapacitor cells per year. Thanks to this sector, power grids, heavyprogress, Skeleton’s ultracapacitors are currently able transport and haulage. Outto provide four times higher power density and up to improved scale as a result oftwice as much energy density as its closest competitors. the new facility will enable more businesses to realiseIn March 2017 Skeleton Technologies announced the cost savings and energyopening of a new production line in Saxony, Germany. efficiencies based on ourThe new facility is the largest in Europe and will enable technology.the business to greatly enhance its production capacity.The expansion is expected to support over 50 new jobs InnoEnergy Central Europe Annual Report 2017 27at the facility by 2019 and is the result of a €6.2 millioninvestment by Skeleton Technologies, supported by federaland state funds from the program for the promotion ofthe joint task to improve the regional economic structure.EIT InnoEnergy continues to collaborate closely withSkeleton, in order to support the acceleration of itsbusiness growth and maximise its commercial appeal. Indoing so, we are helping Skeleton to bring its pioneeringproducts to an international audience, breaking beyondwhere it is based and enabling it to compete globally.
INNOENERGY CENTRAL EUROPE 02 INNOENERGY CENTRAL EUROPE
INNOENERGY CENTRAL EUROPESUSTAINABLE ENERGYTHROUGHOUT EUROPE InnoEnergy Central Europe was established in Kraków in July 2011, and was created to effectively serve the needs of the region, whilst also connecting businesses, researchers and educational institutions in the area with projects and partners throughout the rest of Europe.Central Europe has seen rapid economic growth in Central Europe’s rising stock in the continental andrecent years, and continues to show a huge amount global economy.of promise in terms of technology innovation andpotential for further progress. Large-scale inter- InnoEnergy Central Europe aims to effectively channelnational projects such as the Central European this momentum, and ensure that this spirit of innova-Initiative (CEI), Centrope and the Visegrád Four are tion is used to advance the development of sustainablegathering momentum, and are clear indicators of energy throughout Europe.INNOENERGY GOVERNANCE STRUCTURE shares (each representing 5.88%) were granted to the following shareholders (see the chart below).When InnoEnergy Central Europe was formed in In 2017, EIT InnoEnergy SE bought 2 more shares2011, its share capital, amounting to around €50,000, from. Central Mining Institute and the Institute forwas divided into 17 equal shares. Chemical Processing of Coal increasing its stake at the Company to 70.6%.Parent company KIC InnoEnergy SE took 10 shares(58.8% of the total), while the remaining seven 5.9%5.9%5.9% 70.6%5.9% InnoEnergy Central Europe Annual Report 2017 29 5.9%
INNOENERGY CENTRAL EUROPE2.1 VALUE STREAM ACADEMIA RTO’S INDUSTRY EITACQUISITION ENGINE MSc Intake EDUCATION Master’s iSE School Online Education PowerUp! BUSINESS HighwayCompetition CREATION Boostway Primer Investment INNOVATION round PROJECTS30 InnoEnergy Central Europe Annual Report 2017 SHAREHOLDERS INVESTORS EU BODIES AUTHORITIES
INNOENERGY CENTRAL EUROPE OUTCOME IMPACT SustainableSkilled human capital future Companies Cleaner, created cheaper and more Successful predictableinternational energy expansionBreakthroughproducts and services InnoEnergy Central Europe Annual Report 2017 31
INNOENERGY CENTRAL EUROPE2.2 GOVERNANCE AND STRUCTUREManagement BoardCEO CFO Sales Marketing Regional Legal CooperationBusiness FinanceDevelopment & Operations vacantJakub Miler, Grzegorz Dawid Christo MartaManaging Kandefer, Niedojadło, Balinow, Małasiewicz,Director Director for Marketing and Business General Counsel Finance and Communications Development Operations Officer Director CEE Education Krzysztof Pikoń, Education Officer Highway Łukasz Świercz, Business Creation Officer Boostway Michał Bajda, Business Developer Innovation Projects Marcin Lewenstein, Innovation Officer32 InnoEnergy Central Europe Annual Report 2017
INNOENERGY CENTRAL EUROPE 2.3 FINANCIAL DATA FOR 2017 PROFIaTTsh&eanCLioOnmcSrSpeaaSnsTeyAosTafEawMlmaEnoNsintTc2r5e%asinetihnereCvoemnpuaensyo’sf noevtepr r2o0fi%ts, a. Ts2hw0e1es2ell 2013 2014 2015 2016 2 results were drive(ninbPyLaNs)eries of successful initiatives whichA NOepterreavtiesnntgruecenosgsfttrshoemnseadleosur contribution to BEoITaIrndntooEbnreorgayd’esnovInenraolEl-gn77oe582ar405gl559sy,405603923 9 706 044 7 276 227 7 805 002 9 706 044 11B Profit/ laonssd oandseacleissio(An-Bb)y the Executive -8 777 965 -6 721 942 -7 545 469 -8 777 965 -10C 928 079 554 285 259 533 928 079 1D Other oCpenrattrianlgEruevroenpuee’ssremit by giving the Company responsibility of - 46 178 - - 46 178E POrtohfeitr/loocpsoesoraortdnininogpacetoirnasgttisnRgISacatnivditioeust(rCe+aDc-hE)activities - - - - 1F in the region. 259 533 22 589 974 257 531 696 259 533 974 257 1G FinanciIanl tinucrnom, tehis gave the Company an opportunity to widen its scope233 503 233 503 233H Financioalf csoesrtvsices, through the growth of initiatives such as Prim-2e1r,658 -19 526 -45 039 -21 658 -19 526I CProorfpito/lroatshtesetoaenxstbaubsliinsehsms aecnttivoitfieas n(Fe+tGw-oHr)k 12a33n08d314068 955 234 486 657 238 108 955 234J of EIT InnoEnergy HUBs, 177 692 79 574 130 346 177 692 777 542 407 083 107 762 777 542 Net protfhit/elosscsa(lIi-nJg) up of the PowerUp! competition. 107 762 9,6% 7,6% 3,3% 9,6% The expansion of PowerUp! was also an opportunity to Gross matatrrgainct new business partners, with the additional revenue3,3% 8,0% 5,6% 1,4% 8,0% Gross mstarregainms secured through this – which more than doubled1,4% compared to year 2016 – acting as an important contributor to the Company’s overall results. In total, these contributions Grzegorz2013 2014 2015 2016 2 Structhuerelpoedf rteoveinuceresase Company revenues by more than 1200%1.2 ( in PLN ) Kandefer,3 371 338 498 888 Servicess to KIC Innoenergy SE 515 901 6 645 642 7 165 003 9 184 953 10 630 585 611 127 635 677 11 Membership fees 501 102 D52i3rector f-or Finan2c8 8e71 59 912 - Other seCrOvicMesPANY REVENUES, YEARS 2013–2017 9 880 542 Total 1 017 003 3 870 749 7 276 227 7 805 001 and Operations 14 000 Thousands PLN12 000 Tysiące The Company is 12 000 10 000 anticipating furth10e0r00 8 000 growth in the fore8s00e0 eable 6 000 future, with great6e0r00 involvement in RIS4 00a0 nd 4 000 outreach activitie2s000 2 000 2014 2015 2016 2017 and the coordination- 2012 2013 of IT support for the Servicess to KIC Innoenergy 2013 Servicess to EIT InnoEnergy SE Membership fees whole EIT InnoEnergy Other services group expected to be key drivers of this continued progression. In addition, The Company also managed to acquire a new partner during greater recognition of this time, thus increasing membership fees by 23%. Together, all of these activities contributed towards the generation of the EIT InnoEnergy’s a healthy gross margin of 11.6%. The most important factor affecting the Company’s result were brand in the region exchange rates (stronger PLN vs. EUR) and other financial costs, all of which negatively impacted our net performance to the value of market will increase 83.2 thousand PLN, and were highest in the Company history. In these segments, gains from the sale of assets (9.6 thousand PLN) revenues from advisory, helped to narrowly offset these costs. promotional and other services. InnoEnergy Central Europe Annual Report 2017 33
INNOENERGY CENTRAL EUROPEFINANCIAL SUMMARY 2013 2014 2015 2016 2017 PROFIT & LOSS STATEMENT 3 870 750 7 276 227 7 805 002 9 706 044 11 667 124 ( in PLN ) -3 786 523 -6 721 942 -7 545 469 -8 777 965 -10 313 038 A Net revenues from sales B Operating costs 84 227 554 285 259 533 928 079 1 354 086 C Profit/ loss on sales (A-B) - - - 46 178 9 618 D Other operating revenues - - - E Other operating costs 22 589 -48 153 F Profit/loss on operating activities (C+D-E) 84 188 531 696 259 533 974 257 1 315 551 G Financial income - 233 503 H Financial costs 233 8 425 I Profit/loss on business activities (F+G-H) -29 335 -45 039 -21 658 -19 526 -91 607 J Corporate tax 54 853 486 657 238 108 955 234 1 232 369 Net profit/loss (I-J) 26 386 79 574 130 346 177 692 268 907 Gross margin 28 467 407 083 107 762 777 542 963 463 Net margin 2,2% 7,6% 3,3% 9,6% 11,6% 0,7% 5,6% 1,4% 8,0% 8,3%Nevertheless, thanks to impressive profits in its core oper- Although the Company sees possibility of a decrease inations, the Company managed to achieve a net margin of membership fees due to planned changes to the mem-8.3% and net profit of 963.5 thousand PLN. This increases bership structure, this will only have a minor effect onthe value of the Company’s by an impressive 200% over the growth. Assuming that there will be no major business orlast two years, with this being achieved along-side a stable political changes in the coming year, InnoEnergy Centraldecrease of the Company debt ratio (liabilities to assets) Europe is expected to continue its expansion and see itsby a total of 23 percentage points over the past 5 years. overall value rise further.COMPANY’S NET ASSETS YEARS 2013-2017Thousands PLN 3 000 74% 65% 70% 963 90% 2 500 75% 2 000 407 108 778 53% 51% 60% 1 500 40 45% 1 000 2016 2017 30% 15% 500 0% - 2013 2014 2015 Net assets at beginning of the year Yearly increase Debt ratio34 InnoEnergy Central Europe Annual Report 2017
INNOENERGY CENTRAL EUROPE2.4 CENTRAL EUROPE STRUCTUREEIT InnoEnergy is leading a change in our CEE region, Christobringing innovation in the form of new products Balinow,and solutions for the industry, but what is not atall less important introducing modern ways of Business Developmentdoing business and the best practices of the global Director CEEstart-up culture we all know. What is unique in ourway of contributing is that works on both ends The goal of our activity is toof the innovation value chain – supporting the bring the power of innovationCorporate Partners we serve with our knowledge to our sector in CEE region. Weand solutions from our global portfolio, as well don’t stop at only connectingas supporting the young entrepreneurs in getting the people and the ecosystems,them from the lab to the market. but we bring the new solutionsTo be successful with such demanding challenge to the CEE industry, take thein front of us, we need a team of extraordinary best start-ups from here topeople, believers who will have strong skills and the global scene and nurtureknowledge, but will also dare to change the current the future generation of gameand design with us the future of the region. changers from the students applying to our Master’s School studies. Please meet the InnoEnergy HUBs and our Partners, forming the InnoEnergy PowerAlliance Activity.and more... InnoEnergy Central Europe Annual Report 2017 35
INNOENERGY CENTRAL EUROPE CENTRAL EUROPE HUBS STRUCTURE MAP Slovakia GA Drilling GA Drilling Slovenia CT Profiler (JS Energy) CT Profiler (JS Energy) Croatia Vane Compressors Vane Compressors Greece & Cyprus36 InnoEnergy Central Europe Annual Report 2017
Estonia INNOENERGY CENTRAL EUROPESkeletonTechnologies LatviaSkSekleetloentoTneTcehcnhonloogloiegsies GaGsLaisnLeirnHerygen Recolo Lithuania HygenSmSamrtaCrthCarhgaergBeoBx ox Recolo Romania HungaryBulgaria InnoEnergy Central Europe Annual Report 2017 37
INNOENERGY CENTRAL EUROPE INNOENERGY HUB HUNGARYINNOENERGY HUB CROATIASince 2016 Since 2015INNOENERGY PORTFOLIO INNOENERGY PORTFOLIO INNOENERGY PORTFOLIO » 7 INNOENERGY MSC School StudentsVane Compressors (Highway) » CNGHRS (Innovation Project Partner) Vane Compressors (Highway) POWERUP! 2017 HIGHLIGHTS POWERUP! 2017 HIGHLIGHTS » 22 applications » 9 Applications » 9 Regional Bootcamp participants » 8 Regional Bootcamp participants » 9 Regional Final participants » 8 Regional Final participants » 1 Global Platinum Partner – MOL GroupWinner Winner of the Regional Final: Balmaris Winner of the Regional Final: HeatVentors also a winner of the Grand Final INVENTO PARTNERS EH INVEST PARTNERS » HAMAG BICRO - Croatian Agency for SMEs » MOL Group (InnoEnergy Associated Partner) Innovation and Investments » Hiventures » Smart Future Lab (MVM Group) » DAZ – Development Agency Zagreb » National Innovation Office (Hungary) » STEPRI - Science and Technology Park Rijeka » Alteo Group » TPV - Technology Park Varaždin » CRANE - Croatian Business Angel Network YOU COULD MEET US AT » Faculty of Mechanical Engineering and Naval » Start-up Campus Global Tour Architecture, University of Zagreb » Start-up Campus University Idea Battle » Get in the Ring Budapest YOU COULD MEET US AT » Start-up week Debrecen » JRC (Joint Research Centre) Conferences - Investment Readiness of Innovation Projects in South East Europe » LEAP Summit » Smart cities Forum » Belgrade Investment Forum ABOUT INVENTO CAPITAL ABOUT EH INVEST A venture capital innovation fund established in Established in 2015, located in Budapest and Debrecen, 2005 specialized in fostering innovation on the owner of the Start-up Campus brand Western Balkan.38 InnoEnergy Central Europe Annual Report 2017
INNOENERGY HUB LATVIA INNOENERGY CENTRAL EUROPE INNOENERGY HUB BULGARIASince 2016 Since 2015INNOENERGY PORTFOLIO INNOENERGY PORTFOLIO» 1 INNOENERGY MSC School Student » 4 INNOENERGY MSC School Students» GasLiner (Highway) » Flextronics SRL (Innovation Project Partner)» Recollo (Highway)» Hygen (Innovation Project, 3 million EUR) POWERUP! 2017 HIGHLIGHTSPOWERUP! 2017 HIGHLIGHTS » 10 teams participating in the Regional Bootcamp » 9 teams participated in the Regional Final» 17 applications » participants» 8 teas participated in Bootcamps» 7 teams participated in Regional Finals 2 Regional Media Partners: Media Pool and» 2 Regional Partners (Latvian Mobile Telephone Bulgarian National Radio Winner of the Regional Final: TwinRay Aricraft and LATBAN)Winner of the Regional Final: Oxygen for Burning Fuel CLEANTECH PARTNERSAPI PARTNERS » Zagorka Ltd. Part of the Heineken Group » IKEA Bulgaria» Riga Technical University » Risk Engineering» University of Latvia » Sofia municipality» Latvian Green Technology Cluster » Technical University of Sofia» Latvian Chamber of Commerce» Ministry of Economics YOU COULD MEET US ATYOU COULD MEET US AT » Conference “Challenges to Start-up Businesses” » Black Sea International Workshop: “Promotion» TechCill 2017» Digital Freedom Festival 2017 of Social, Sustainable and Frugal Innovation in the» Innovation festival “Inovuss” » Black Sea Region”ABOUT API » Eco-innovation for air quality » Norwegian-Bulgarian Business Group MeetingEstablished in 2002, part of the management ofExpansionCapital VC fund (19 million EUR) ABOUT CLEANTECH BULGARIA Established in 2011, located in Sofia Tech Park InnoEnergy Central Europe Annual Report 2017 39
INNOENERGY CENTRAL EUROPEINNOENERGY HUB GREECE & CYPRUS INNOENERGY HUB ROMANIASince 2015 Since 2016 INNOENERGY PORTFOLIO INNOENERGY PORTFOLIO » BIO2CHP (Highway Start-up) » 4 INNOENERGY MSC School Students » 18 INNOENERGY MSC School Students » Flextronics SRL (Innovation Project Partner) » iREACT NEXT GENERATION (Innovation Project POWERUP! 2017 HIGHLIGHTS - currently in the feasibility study phase) » 12 applications POWERUP! 2017 HIGHLIGHTS » 7 Regional Bootcamp participants » 7 Regional Final participants » 13 applications » 8 Regional Bootcamp participants Winner of the Regional Final: HOMEPOD » 8 Regional Final participants SPRINT POINT PARTNERS Winner of the Regional Final: FLASC – “Floating platforms that store energy“. - 2ndPlace in the Grand »»»»»»»»»»» IBM Final in Budapest BRD Group Google KINNO PARTNERS Cluj-Napoca City Hall ESA » ESA Aries Transilvania » National Bank of Greece Cluj Hub » Si-Cluster Nokia » Technopolis Municipality of Athens Vodafone » National Technical University of Athens Banca Transilvania Transylvania Energy Cluster YOU COULD MEET US AT YOU COULD MEET US AT » Nanotech » 3rd Blue growth Demo Day » Start-up Weekend Cluj » Aquatherm 2017 » TEDxCluj » Energy Convention » Innovation Labs » HellenicForumforScience,TechnologyandInnovation ABOUT KINNO ABOUT SPRINTPOINT Established in 2007, one of the best companies Established in 2014, co-located in Bucharest and assisting R&D start-ups and entrepreneurs – 60+ Cluj-Napoca successful projects40 InnoEnergy Central Europe Annual Report 2017
INNOENERGY HUB ESTONIA INNOENERGY CENTRAL EUROPE INNOENERGY HUB SLOVENIASince 2015 Since 2016 INNOENERGY PORTFOLIO INNOENERGY PORTFOLIO » 1 INNOENERGY MSC School Student » CT Profiler (Innovation Project 1.1 million EUR) » Skeleton Technologies (Innovation Project, » UCGEN3 (Innovation Project Partner) » 4 million EUR) POWERUP! 2017 HIGHLIGHTS Thinnect (Boostway) » 6 applications POWERUP! 2017 HIGHLIGHTS » Regional Bootcamp participants – 6 companies » 6 Regional Bootcamp participants » 8 applications » 1 Regional Partner - PETROL » 52 Regional Final participants » 13 Regional Bootcamp participants Winner of the Regional Final: Mebius (also winner » Regional Partner - ESTBAN of the MOL Group Wild Card at Grand Final) Winner of the Regional Final: Ubik Solutions ABC PARTNERS TEHNOPOL PARTNERS » Cisco, Microsoft, IBM » BMW » Estonian Business Angels Network » City of San Jose, F6S, EIT InnoEnergy, BTC » Tallinn University of Technology » ScanBalt City, AmCham Slovenia, Xlab, Triglav, Petrol, » Prototron Gambit Trade, CEED » Pakri Science and Industrial Park » ESTVCA Venture Capital Association YOU COULD MEET US AT » Start-up Estonia » Podim (start-ups) YOU COULD MEET US AT » En.Odmev (energy) » PowerUp final Slovenia (energy) » Latitude59 » Pioneers Festival (Austria) » Start-up Day » Meet&Match (Event for matching corporates » Refresh » and start-ups) » MELT Innovation Forum etc. Hackathons (clients include Triglav, Lidl, Petrol, UniCredit, Knauf Insulation, IEEE, etc.)ABOUT TEHNOPOL ABOUT ABC ACCELERATOREstablished in 2003, the biggest science and the Established in 2009, the most successful accelerator onbusiness campus in the Baltics the Balkans with branches in Germany and United States InnoEnergy Central Europe Annual Report 2017 41
INNOENERGY CENTRAL EUROPE INNOENERGY HUB LITHUANIAINNOENERGY HUB SLOVAKIASince 2016 Since 2015INNOENERGY PORTFOLIO INNOENERGY PORTFOLIOGA DRILLING (Innovation Project) » Smart Charge Box (Highway) » 3 INNOENERGY MSC School StudentsPOWERUP! 2017 SLOVAKIA FINAL POWERUP! 2017 HIGHLIGHTS»»»» 877ReRaFgpienipogalniliociasnaltatsPiloaBnrotsnoetcra-mZpSEparticipants » 12 applicationsWinner of the Regional Final: Nice Visions » 8 Regional Final participants » 8 Regional Bootcamp participants Winner of the Regional Final: R-SolarNEULOGY PARTNERS VTP PARTNERSCrowdberry, Neulogy Ventures, HubHub, Impact » Vilnius city municipalityHub, Slovak Business Agency, Slovak Technical » Start-up Lithuania & Enterprise LithuaniaUniversity, Slovak Academy of Sciences, Comenius » TeliaUniversity, SAPIE – Slovak Alliance for Innovation » COBALTEconomy, EIT Digital, Slovak American Founda-tion, O2, ZSE YOU COULD MEET US ATYOU COULD MEET US AT » Energy Tech Day in Vilnius » Start-up Fair» Future Now Conference / Start-up Awards » Discover Growth. Lithuania» Tech Inno Day » LOGIN» Forbes 30 under 30 » other events, organized by or at Vilnius Tech Park» Tech Summit ABOUT NEULOGY ABOUT VILNIUS TECH PARK Established in 2007, located at the Slovak Univer- Vilnius Tech Park was established in 2016, but the sity of Technology in Bratislava. Specialised in R&D Incubated start-ups raised over 80 million EUR consultancy and acceleration of outside investment in 2017 alone.42 InnoEnergy Central Europe Annual Report 2017
INNOENERGY CENTRAL EUROPEInnoEnergy Central Europe Annual Report 2017 43
KEY ACHIEVEMENTS IN 2017 03 KEY ACHIEVEMENTS IN 2017
KEY ACHIEVEMENTS IN 20173.1 HIGHWAYThe drive towards energy sustainability demands that new businessesenter the fray and devote themselves to enhancing and expanding Europe’senergy ecosystem. There is enormous potential for success in this area,but new start-ups need to meet a series of challenges if they want tosuccessfully bring their products to market.Our Highway Services have these requirements verymuch in mind. We assess business ideas, provide tailoredservices to owners and entrepreneurs, connect start-ups to venture capital and seed funding, and invest ourown funds and expertise in return for a financial stakein these new companies.2017 was a hugely productive year for Highway, withthe below statistics being key examples of the workwe did in helping companies get onto a sure footing forfuture growth.209 applications received,158including Łukasz for our PowerUp! Świercz,competition Business Creation Officer12 pre-investment agreements Year 2017 was very exciting from two points of view.signed, with companies including We have noted significantBin-e, Ekovolt, Quickalert, CT Profiler, increase in number ofWeilverda, Vebbu, eQuilibra, Bio2CHP, start-ups applications. MainlyMebius, AirQualityTree, BurnItGreen due to PowerUp! competitionand HeatVentors that is more recognizable across Central Europe. Secondly, quality5 investment contracts agreed with – maturity of the start-ups is better comparing to previousNG Heat, Bin-e, Smart Charge Box, years. Entrepreneurs are noteQuilibra and Hydrogenex only more oriented on business rather than technology and have5 holiday internships granted to EIT established experienced teams but, what is the most important,InnoEnergy students in the start-ups their aim is to deliver productswe support globally not only locally.In addition to this, the companies with which we work InnoEnergy Central Europe Annual Report 2017 45attracted €6.8 million in public and private financing,and 81 people – including 18 people under the age of30 – found employment in our supported businesses.Below are some of the Highway projects in which weparticipated in 2017.
KEY ACHIEVEMENTS IN 2017Headquartered in Poznan, Poland, Bin-e was the winner of Jakubthe 2016 edition of the PowerUp! competition. The start-up Luboński,has designed and created the world’s first IoT-connectedbin that can automatically identify, categorise, sort and CEO, BIN-ecompress different types of waste.The bin works by using innovative technology that can When we were in the finals ofimmediately recognise the materials in a particular piece the PowerUp! competition, weof waste from the moment it enters the bin. The item is knew that this meeting wouldthen segregated into the correct container and the waste turn into something biggermanagement company is informed of when a collection for two reasons. Firstly, theneeds to be arranged. Bin-e also collects data and adds to contribution of EIT InnoEnergyan external database, which helps it to intelligently improve projects to the developmentthe way it recognises different types of waste. of a sustainable energy future.Since it won the PowerUp! competition, Bin-e has contin- Secondly, we have exactly theued to build its reputation and develop its go-to-market same goals – to deliverstrategy. This has culminated in the company securing a a product that will not only€500,000 investment from equity fund Altamira, as well have a real impact on improvingas a contract to officially begin production of the bin at a our quality of life but will alsofactory in Poland. Crucially, Bin-e has also signed its first bring financial benefits, suchcustomer, German recycling specialist Interseroh, with an as through waste segregationagreement to provide 100 devices. and compression. We alsoBin-e is heralding a new era in the way we approach waste have the opportunity to workmanagement, by significantly reducing time, labour and with experts from investment,costs attached to this process. sales, or financial markets. An important element of this46 InnoEnergy Central Europe Annual Report 2017 cooperation is the access to networks throughout Europe, which we hope to use in the near future. People from EIT InnoEnergy are also actively supporting us in ongoing marketing communications.
KEY ACHIEVEMENTS IN 2017Gradis is a start-up which leverages the power of AI Kamilain the design of street and road lighting. The company Kotulska,advises businesses on the best equipment to use fora given situation, including how best to install lighting PR & Marketing Director,in order to ensure significant cost savings. GRADISWhen this is combined with Gradis’ AI solution and The idea of creating a start-modern LEDs, lighting levels can be intelligently ad- up was born in the mindsjusted to actual needs based on traffic intensity and of AGH scientists in Kraków,the amount of ambient light at any given time, which based on promising researchreduces energy consumption, and the amount spent results. The hardest challengeon electricity as a result. we had to face was to move from the theoretical approach2017 was a hugely successful year for Gradis as far as to its practical application.recognition for its efforts was concerned. In the Start- Cooperation with EITup Challenge at European Start-up Days, Gradis won InnoEnergy has not only helpedthe main prize in the Tradition & Modernity category us in product deployment butfor the recent work it has been doing. In addition to has also allowed us to promotethis, the company also received a New Impulse award it internationally.at the 14th New Industry Congress in Poland, whichcommended the company for the innovative natureof its ideas and the impact they were having on thedrive for greater energy efficiency. InnoEnergy Central Europe Annual Report 2017 47
KEY ACHIEVEMENTS IN 2017Enetech is a Polish company that has developed a heat Ph.D. Mateuszstorage tank filled with phase change materials (PCM). Lisowski,The tank can be used for the storage of heat energy– including waste heat – and can be transported distances CEO, Enetechup to 30 km. The company was formed as part of a bid tocommercialise research conducted at the AGH University The biggest challenge for ourof Science and Technology, and was created through the business was to reach thecontribution of private capital and investors, including first paying customers willingInnoAGH and EIT InnoEnergy. to buy the offered product. Thanks to cooperation withIn Polish industry alone, some 60 TWh of heat energy is EIT InnoEnergy, a technologylost annually in the form of waste heat. Traditionally, it demonstrator was created.was not possible to effectively manage and harness this Financial support EITtype of energy. However, Enetech’s solution has proven InnoEnergy has also enabledrevolutionary in this respect, making it possible for waste the company to developheat to be recycled and used effectively. The solution is its market and expand itscurrently pilot tested by Innogy Polska. customer base.This enables businesses to reuse the waste heat theyproduce, or even monetise it by selling it on elsewhere. Thepositive effect on an organisation’s bottom line is evident:significant overall cost savings on heat energy usage.Enetech’s impact on innovation in the industry was recog-nised last year when its heat storage and transport tankwas named the winner in the Product category at the10th International Inventory and Innovation Fair INTARG2017, held in Katowice. The tank was also awarded thebronze medal in INTARG’s general category.48 InnoEnergy Central Europe Annual Report 2017
KEY ACHIEVEMENTS IN 20173.2 BOOSTWAYBoostway is a service conceived to support mature start-ups in thegrowth phase with particular focus on two aspects: 1) market growth,2) manufacturing ramp-up. With Boostway programme we support maturestart-ups that have ability and potential to grow globally.Boostway Programme is addressed to companies com- Micha Bajda,plying with the following criteria: Business Developer»» Are in a growing phase or need to scale-up»» Have been operative for 1,5-7 years (on average) since This programme has particular value for the first sale innovative companies from CE countries. Thanks to»» Have a consolidated and devoted team InnoEnergy support, these»» Revenues generated are between 100 000€ - 3.000 companies have a chance to enter markets across Europe 000€ or have attracted investment capital or even the world.SCOPE OF SERVICESPool of services is not a closed catalogue, entrepreneur canrequest for any type of service to be financed within grantedbudget. Services are always tailor made and must be approvedby EIT InnoEnergy and be compliant to the approved RoadMap. The scope of services is shown on the next pages.MODEL OF COOPERATIONBoostway programme support lasts for about two years.It is a time of intense cooperation and deep involvement inall areas and dimensions defined in the common Road Map.In return, we expect to participate in the company successmeasured by higher revenues by entering new markets.This takes the form of a revenue sharing model, i.e. a sharein sales revenue in a defined period of time.BOOSTWAY IN INNOENERGY CENTRALEUROPE IN 2017 YEARYear 2017 was the first year for InnoEnergy CentralEurope in which intensive efforts were undertaken to Boostway candidates Boostway Services Revenue share agreement signed agreement signed 16 5 2(from 6 different CE countries) InnoEnergy Central Europe Annual Report 2017 49
KEY ACHIEVEMENTS IN 2017implement a new support model for start-ups in the scale on global markets and reach out the largest groupgrowth phase - the Boostway programme. The interest of potential customers with the offer. EIT InnoEnergyin this support instrument among dynamically growing resources and network are a great tool for prospectivesmall companies with CE increased very much. companies to overcome the limitations associated with operating on the local market and go globally.The unique value of the EIT InnoEnergy organizationand partners is an opportunity for these companies toTECHNOLOGY Boostway • Technology due diligence /IMNADNUUSFTARCATLUIZRAITNIOGN • Patentability assessment & IP • Operations/SCM strategy rights protection • Engineering Design • Technology & prototype Standarization enhancement & Certification Services • Access to partners’ know-how • SCM: Purchasing, Manufacturing & Logistics and R&D infrastructurePEOPLE MARKETING & SALES DEVELOPMENT• Brokerage to specialized VAR• Team assessment: (Geographic and value chain skills & competence added reseller) European and assessment WW• Coaching/Mentoring • Brokerage to associations of• Team complementation value chain demand buyers, country, European and WW profiles• Specific training • Europeization: Access to same customer profiles as in home & workshops country but in the other KIC offices • Financing support: pre-seed funds & seed funds (Team creation, • Market analysis Tehcnology Fund) • Market competitiveness • Investment Fund • Access to our European venture assessment capital & business angel network • Customer/industry discovery & validation • Physical office space • Administrative & legal support • Business model definition & validation • Access to loans (soft/convertible) • Assistance for business plan FINANCE • Company creation & legal support • Commercialization support: Access to launching customers & industry • Assistance for internationalization MARKET & business growth50 InnoEnergy Central Europe Annual Report 2017
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