Role 1313
VIENGA CREATES UNIQUE MASS MARKET HYDRO TECHNOLOGY PROVIDING ENERGY FROM CURRENTLY UNUSED SOURCES
PATENTED GENERATOR MACHINERY, UNIVERSITY TESTED, CHEAPER THAN ANY COMPETING TECHNOLOGY
OPERATES GLOBALLY IN BOTH DEVELOPING COUNTRIES AND THE DEVELOPED WORLD
Vienga is a start-up whose focused vision is to reduce energy poverty. Grid expansion in developed countries is problematic and expensive, whilst non-existent in others. Supplying affordable power is an immediate dilemma everywhere. But the world is not harnessing the full power of water.
More than half of the world’s viable hydropower is untapped, even though it is the biggest contributor to renewable energy provision. Very-low-head (height) hydro is hugely unexploited, as conventional devices cannot provide effective ROIs in sites with less than 3m height drops.
Our client has spent nearly half a million pounds developing a relevant product around ‘voice of customer requests’ to provide value through universal siting (can go almost anywhere), is easily portable, easy to maintain, and it will provide PRODUCTIVE power at affordable costs at heights less than 3m.
Image of a device installed at a rough river step on a ‘holding’ ladder
It’s an almost virgin market space where, in the African beachhead, it can be used for activities such as irrigation, agro-processing, grinding, chilling and small manufacturing by people who tend to rely on diesel gensets. Each small 10kW device will reduce 40 tons/CO2 per unit annually, generating electricity at a lower unit cost than any other technology.
The Company is now ready to deploy the technology for robust field testing at a girl’s school in Tanzania who are currently using diesel generators for power. Thereafter, first sales are predicted end 2027 at showcase sites in conjunction with Partners in Tanzania, Kenya, Uganda, Malawi and Zambia (with more to follow).
It’s Africa that has the biggest pain and where scaling can occur quickest, but thereafter other segments in the developed world - UK/EU/etc are fully planned.
The Directors
Alistair Murray, B. Sc (Hons), Dip Marketing, MBA, Chartered Marketer, FCIM
Alistair has a varied entrepreneurial background (MD, Chairman, and large PM exemplars) with proven skills in organising physical, financial, and human resources to achieve stated goals, including successfully developing and commercialising new products and services. With a career covering three continents, he has previously closed deals with parties in Europe, Africa, the Far East, Russia, and North America
He has an established professional network, and his strengths revolve around setting agendas, networking and implementing final and effective outcomes. Alistair is also a published author/screenwriter, a prize-winning Consultant, ex-Chairman (North Lands Creative Glass, the Chartered Institute of Marketing in Scotland, the Association of Integrated Media in the Highlands & Islands) and he is a shareholder and director of Tree_Sea.mals (off-grid solar) in East Africa.
Simon Maycock B. Sc Engineering (Hons), Dip Management
Simon has over 25 years senior leadership experience in driving R&D, lean manufacturing, quality & continuous improvement within the power generation and aerospace sectors. A ‘Lean 6 sigma’ Black Belt, as ex MD and the Global Quality & Technology Transfer Director for GE Oil & Gas Industrial Steam turbines, he led the global business transformation ‘ONE’ program. As Quality Director for Alstom Power Manufacturing, he was responsible for defining the quality strategy across a global network of 16 factories and a turnover of more than $1bn.
Previously, he was MD of Alstom Power Thermal Transverse Technologies, a global R&D organisation with responsibility for developing technologies and products used across a range of product lines where he reorganised the engineering functions in the separate product lines , accounting for 400 highly skilled engineers and a turnover of $150m. His strong cross-functional expertise and international experience across value chains for global product and project companies lends a proven track record in delivering significant time-ready successes in engineered project-centred businesses.
Alan Long B. Sc (Hons), FCA, CTA
After University Alan qualified as a Chartered Accountant in London with Grant Thornton before spending some time working in tax at Touche Ross in Edinburgh. He bought his first practice at the age of 32 and along with his then business partner built a successfully provincial practice. In 2001 he and his wife Helen, also an accountant, left to set up a new practice, The Long Partnership, which now has 26 staff spread over 4 offices in the North of Scotland. The organisation has a notable growth strategy and provides accountancy, tax advice and specialised business growth services plus, as well as employing qualified staff, also trains future accountants. The practise has been built helping new and developing companies, ensuring the right strategies are put in place with the relevant resources needed to manage commercialisation. Alan brings key skills to Vienga with regard to financial, legal and scaling acumen.
Ian Hobday B. Sc International Marketing (Hons), MBA
Ian spent 16 years with BASF before taking on the role of a turnaround or restructuring specialist. In his penultimate role (Divisional VP EMEA), he delivered 3 years of record profits and record sales in a division with revenues of €167m in the middle of a recession. His last role at BASF saw him turn a loss-making business into a profitable one in just one year. Headhunted by Arch Chemicals to restructure their Coatings business ($125m and 474 employees), he restructured the business, increased sales and successfully engineered a sale. He then took on NED roles in four companies before focusing his efforts on his largest investment, Liberty Electric Cars where, as MD. he organised its sale to Green Automotive Company, an OTC quoted business based in California. Ian now continues his passion for the world of startups and turnarounds, also works as an Expert in Residence at Imperial College.
Annika Kunze BA/BWL, ELP, Business Sustainability Management
Annika served at senior levels for 18 years in well-known corporations (BMW AG, E.ON SE) before establishing Zaptec as an international start-up in the automotive, energy and utilities industries. She now undertakes international consultancy in Europe, the UK and the far East USA where she brings a strong record in leading complex and large-scale international projects, with a focus on business development, business modelling, go-to-market strategies, product launches, marketing and sales, partner management and establishing performance-oriented business operations. She recently successfully completed a Business Sustainability Management course at Cambridge University, and she brings a strong sales and marketing background to bear to the Board.
Our client is now seeking 3 Investing NEDs or Advisors to join their Board alongside their CEO, CTO and CFO with the following areas of expertise, or a combination of, or similar:
Hydro/Engineering Industry NED:
- Experienced in hydro operations, particularly micro or pico.
- Knowledge of procurement and supply chains in the UK and overseas.
- Knowledge and experience of building technical collaborations.
- Knowledge and experience of industrial design and costing processes.
Experience in formulating manufacturing and innovation strategies and associated Intellectual Property protection.
Financial/Legal NED:
- With experience of commercial negotiations and business models.
- Knowledge of relevant legal issues/contract documentation.
- Fundraising experience for high-growth companies.
A strong network to support future public and private fundraising.
Operations NED:
- Track record of business growth.
- Knowledge of scaling strategies for start-ups.
- Experienced in African ‘energy’ field operations
Network of private and political African contacts, or EU/USA/Far East water utility contacts.
The incoming Non-Executive Directors are encouraged to become shareholders with an initial investment of £25k to £50k to align their interests with that of the existing Board Members who are shareholders. New investment will be used to field test for market entry requirements, continue to build a sales partnership pipeline and “match fund” grant applications planned soon to secure market entry investment. The company is valued at £2.5m, and new funding qualifies for EIS tax relief.
It is expected that each role will require approximately 2 or 3 days per month – potentially more in the early stages – and all candidates should have business strategy/growth experience and/or early-stage business or business division experience.
Market & Opportunity:
Our client is focused on ultimately providing >10,000 very-low-head, low-cost turbines per annum to several sectors including Water Companies, Mini-grids Worldwide, Off grid Mobile/Mining Camps, Off grid Schools/Hospitals, Off Grid Domestic, On Grid Mill Sites, On Grid Factory Discharge, On Grid Domestic, Off-grid Rural Africa, Etc.
It is estimated the global market for very-low-head hydro devices under 20kW across all segments is worth $225bn (15m devices) with a Serviceable Available Market for Standalone or Mini-grid hydro devices in initial markets at $900m (60k devices).
Our client has undertaken extensive field engagement (with distribution partners lined up) as well as initial supply chain and ongoing development work with three Universities in the UK and Africa.
Almost £500k has been spent mitigating technical risk on proof of concept, virtual simulation, designing and testing the core components physically to real power curves and compiling a whole system design with 2 patents obtained so far and clear potential for further ones in the future.
Value Proposition:
- The core value proposition is that when looking at ‘equivalent’ hydro, solar, small wind or diesel generator competitors, Vienga will be able to provide ‘productive’ energy at lower cost of energy/kilowatt hour from specific sites. The key features and USPs that allow us to do this are:
- Low-cost manufacture: with minimal moving parts and ‘local’ material incorporation.
- Universal siting: easily portable, easy to maintain.
- Low-cost installation: ‘wet’ instal without large civil construction costs.
Scalable: can be deployed at sites other devices cannot.
- Low Cost of energy Provider: 24/7 baseload compared to solar and small wind.
- Environmental impact: reduces 40 tons/CO2 per unit annually.
- Video: https://youtu.be/iIFhz4I-cGw
Acquiring Customers:
- The Vienga MD has sold higher capex equipment into the beachhead market in sub–Saharan Africa and has assembled relevant networks. First sales will be devices to existing ‘sales partners’ with local government support to provide ‘showcase’ sites.
- Thereafter sales partners will drive regional sales aided by Vienga’s links to NGOs and governments. Vienga will expand the number of sales partners across Africa with a model that is potentially suitable for franchise. This synergy with strategic partnerships will help international expansion.
- In parallel, Vienga will hire relevant sales staff to drive into the corporate and domestic markets across the EU, USA and the Far East to make sure awareness and need have been built up before sales begin.
How the Product will work in the Beachhead:
For the beachhead market, sites will be visually and/or GIS vetted prior to installation. Once installed ‘wet’ the device is hooked up to the local off taker for providing productive energy and the energy output is rated to handle varied (sub-Saharan African) activities such as primary industries (grinders, irrigation pumps, chilling), light manufacturing (welding machines, jigsaws, drilling machines) and commercial (shops, bars, offices), etc.
Ongoing R&D will expedite variants that can continue to extract energy recovery from currently unused resources, and which can be hooked up on-grid or off-grid (via energy storage).
Timelines:
- 2026-27 – Complete market ready device for field trial at confirmed showcase site in Africa.
- 2027-28 – First sales via delivery partners in Africa followed quickly by first sales in UK/EU.
- 2031-32 – Five ‘device variants’ on sale across at least 15 countries
- Vienga is forecasting revenues £54.3m by 2030/31 with a corresponding EBITDA of £13.1m
Exit Strategy:
An exit to the right buyer is valid any time after successful MVP testing (early 2027), more likely after first sales (late 2027) and a boom of utility/energy/engineering mergers and acquisitions is expected over the next ten years as larger companies position themselves in the growing distributed energy transition.
A trade sale to a relevant party, or an acquisition by a global conglomerate is therefore expected within 5-6 years at the latest. Vienga is offering equity-based investment with EIS tax relief, aiming for at least an 8x return, but hopefully up to a x36 return within three to six years, aligned with our planned exit strategy.
How to apply:
Please reach out to This email address is being protected from spambots. You need JavaScript enabled to view it. to express your interest.
Closing Date: 4 weeks from posting.
