EVF III Summary • Advisory Board • Participating Companies • Event Sponsors • Attending Companies • Past Events • EVF IV
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EVF III Summary • Advisory Board • Participating Companies • Event Sponsors • Attending Companies • Past Events • EVF IV |
EVF III SUMMARY
Notable improvements have been made in both the pre and post sessions. E-Source presented a pre-session on end-use products and services in the energy industry for mass market as well as C&I customers. SCIENTECH presented two post sessions on Valuations and Strategic Acquisitions for private companies. Attendees received a complimentary copy of author Bruce Robinson's book, "Strategic Acquisitions: A Guide to Growing and Enhancing the Value of Your Business." Robinson is an SVP at SCIENTECH, has over 40 acquisitions under his belt, and is a graduate of the Rochester Institute of Technology. Where is energy investing today? A little over 120 years ago, Thomas Edison opened the Pearl Street Station to provide electricity to 85 well-to-do customers and their 400 lamps in a one square mile area. After launching an entire new industry through invention, innovation and the ultimate entrepreneurial spirit, the energy space ultimately grew somewhat stale. Built on a foundation of invention, growth and entrepreneurial spirit, the energy industry was once recognized and celebrated for the "utility" it provided -- its essentiality to people, progress and society. Over the years, however, many energy companies have become confined in their thinking and comfortable operating within their captive footprint. Today we find ourselves in a turbulent economy. Failed deregulation in California, stalled deregulation elsewhere, terrorist attacks, absence of a standardized wholesale electric market, uncertain fuel pricing, and capital constraints have forced many companies to re-evaluate their strategic investment opportunities. The comfort zone of many energy companies is eroding, as powerful external drivers (e.g., globalization, political and regulatory climate, technological advances, market fluctuations, corporate governance and accounting reform, etc.) and "dislocation events" (see Figure 1) have converged to mark the dawning of a new epoch in the corporate world generally and the energy industry specifically. In turn, energy leaders are scrambling for an answer. While many have established short-term "plans" and "tactics," few have truly articulated and executed an enterprise-wide strategy for growth, competitive advantage and shareholder value. With such a lack of strategic clarity, it's no surprise that analysts and shareholders are concerned, customers are confused and employees do not have a sense of direction and purpose. In the emerging arena, the challenge for energy companies will be to rethink opportunity, transform from regulated "monopolies" to strategic market-driven companies and reposition themselves to achieve sustainable competitive advantage and market growth. To do so most effectively, energy leaders must set a course deliberately different than those of competitors, (re)focus on customers and reliability and revitalize their companies with a compounding of fundamental operating excellence and an innovative spirit, essence and excitement made famous by the industry's pioneers. As the energy marketplace continues to change, it will be this commitment to strategy that will, in great part, determine the future leaders. Quality of companies With a tightening capital market comes an increase in the quality of those seeking funding. Feedback from the investment community indicates that the presenting companies at EVF-III were increasing in their quality, management team experience, technology, and potential investment opportunities. In fact, UtiliPoint recently surveyed the past presenters at EVF-I and II and found that:
The 75 companies that presented in Chicago came from various stages including development, revenue, and yes, even some profitable. The applicants were mostly private with a few public companies represented, and came from North America and several international countries. Requested funding ranged from $1 million to over $75 million. The companies came from the electric and oil & gas industries and practice in a variety of fields including generation, distributed generation, transmission, distribution, retail, information management and technology, exploration and production, energy storage, fuel cell, solar power, hydrogen technology, power quality, and reliability. The Energy Venture Fair has quickly become North America's premier forum for showcasing the most promising emerging technologies in the energy industry and it could not happen without the valued help of not only the organizer Infocast, but also the sponsors. Many thanks go to EnerTech Capital, Milbank, World-GTL, American Venture, Platts, Power Finance & Risk, Altira, CSFB, EnergyCentral, FA Technology Ventures, Hamilton Robinson LLC, Haddington Ventures LLC, King & Spalding, Nth Power, Prospect Street, Raymond James & Associates, and Technology Partners. Some provide financial sponsorships while others provide media coverage or advisory board coverage. A price cannot be placed on the help that industry-leading companies like these provided. They are truly appreciated in making this energy venture fair the best to date. Best Regards,
Jon T. Brock
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