ecoConnect CIC

APPLICATION FOR GREENBACKERS INVESTMENT PITCH

Important: To be considered for Greenbackers, this form must be filled out in its entirety. Please pay careful attention to all required sections (marked with a *), especially submission lengths and formatting. You should submit your company's information in the third person, i.e. "the company plans to," or "management intends," instead of "we plan to," or "our management intends."

Submissions with information missing, or more information than requested, may either be rejected outright or not assessed favorably.

SUGGESTION: Assemble your information in a word processor, then paste it into the various fields below to minimize any data loss, ensure correct word count or minimise potential for the form to not submit properly.

Please note: this is an application to Greenbackers, not a guarantee of your company's acceptance to the program. All information submitted will be kept in the strictest confidence.

Company name *

Enter the name of your company. Please OMIT legal designations like Ltd, LLC, Plc, etc.
Contact name * First Last
Name of contact at your company we can follow up with with any questions.
Contact Phone Number *
Contact email *

Email address of company contact.
One line summary of the business *
Maximum Allowed: 10 words. Currently Used: 0 words.

Maximum 10 words. Concisely explain what your company does in a sentence.
Address *
Street Address Address Line 2 City State / Province / Region Postal / Zip Code Country
Website

If your company already has a website, please enter it, including the http:// prefix.
Which cleantech sector is most relevant to your company? *
Year that the company was founded. *
Maximum Allowed: 1 words. Currently Used: 0 words.
How many employees? *
Maximum Allowed: 1 words. Currently Used: 0 words.

Number that the company currently employs?
Stage of Company Development *

Please select the stage that you are at at time of application- NOT the stage that you will move into next.
Do you have Intellectual Property? *

If yours is a service business then check "None at this time". Otherwise you SHOULD be checking one of the others.
Is the company registered for EIS relief? *

EIS = Enterprise Investment Scheme; it is not essential, but desirable, especially to Angel Investors, that you are EIS registered. Find out more at http://www.hmrc.gov.uk/eis/
or attend an ecoConnect EIS seminar (see http://eco-connect.org and look for events)
Executive summary of company's business *
Maximum 80 words Executive Summary: Explain your business does and, especially if technology based, how it works in one paragraph. Maximum Allowed: 300 words. Currently Used: 20 words.

Summary of your company's business. Touch on target customer, wants and needs, your proposition and your addressable market opportunity. Write in third person style.

Example: "Natural gas today is a multi-trillion dollar industry. But despite news of new discoveries, the asset is finite. This startup believes it’s found a way to make a renewable form of natural gas out of forestry industry waste and other inexpensive and plentiful feedstocks. The company claims its patent-protected hydropyrolysis process will enable it to produce its gas in a way it says is CO2 neutral and doesn’t require large power inputs. And as chemically identical to natural gas, its product should be transportable in existing worldwide pipelines—the most efficient way to transport energy. Not content to only develop and license equipment to others, this company is also targeting becoming an independent gas producer (IGP) itself, seeking funding for its own plants and selling bio natural gas as a product to off-takers. Its primary customers could be power utilities, which appear interested in purchasing its gas—even if 2-3x more expensive than fossil-based natural gas—so as to make baseload renewable power without the much more expensive proposition of building non-dispatchable wind or solar power plant. There is enough available, accessible and renewable forestry biomass waste in the U.S. and EU to displace 15% of the regions’ natural gas demand, according to the company’s calculations, an addressable market valued at $40 billion/year, it believes."
Marketing abstract *
Maximum 80 words. Explain your business USP (Unique Selling Point) in one paragraph. Maximum Allowed: 80 words. Currently Used: 13 words.

Explain to potential investors about the most compelling aspects of your proposition, i.e What is the Market Challenge and why yours it the right solution. Write in the third person.

Example: "Natural gas today is created from fossil-based sources. But what if a chemically identical gas (not just a simple syngas) could be made inexpensively from practically free feedstock? Such gas, if indistinguishable from petro-based natural gas, could be transported in existing pipelines and sold at a premium to industrial customers like power utilities anxious for a cheaper renewable source than solar and wind. This startup, focused on developing and commercializing bio natural gas, appears to have a massive market opportunity, but is early in its development."
Competitors *

List other companies your technology or service competes with, separated by commas.

Example: "E.ON, Scottish & Southern, ecoTricity
Differentiation vs. competitors *

A short description of the most significant points differentiating your company's product or service from the competitors above.

Example: "The company creates gas that's chemically identical to fossil-based natural gas, not syngas or methane, so its product is therefore transportable in today's pipelines. It has a small trial already underway with the British Gas. And it is targeting a lower cost per mega-joule than competitors."

Remember to write in the third person.
Key team members *

Names, titles and brief bios of the most significant people on your leadership team. Don't be afraid to identify and address any gaps that you still plan to hire for.

Example: "Trevor Jones, Co-Founder and Chief Executive Officer. Trevor has over 30 years of experience in industry, incl. the start-up, growth and sale of a consumer advertising company, consulting as a Partner with Ernst & Young. He has an Engineering MBA from Imperial University in Engineering. Mark Johnson, CTO. Mark has over 20 years experience in project and functional management, Mark previously oversaw blade and generator mechanical design for a 100kW wind turbine, as well as mechanical design and testing of a 1.5 MW generator. He holds a PhD in Engineering Mechanics from the Imperial University, and an MS in Theoretical and Applied Mechanics and BS in Mechanical Engineering from University of Manchester. The company plans to hire a VP sales & marketing from the proceeds of its current investment round."
Major risks or barriers to success for the business. *

Describe some of the risks/barriers/challenges to the business. Be practical and realistic. Entering "None" is not an option!
Existing investors and capitalization details *

Please identify any existing investors that have money in your company and, if possible, the amount invested.

Example: "The company prototyped with friends and family funding from June 2009 until November 2010, when ABC Capital and XYZ Ventures each invested £1 million in a Series A investment round."
Capital sought & use of proceeds *

Describe the amount of investment your company is currently seeking and how it will be used.

Example: "The company is initially seeking series A investment of approximately £4M for prototyping. It expects will need £30-40M after its successful National Grid trial late in 2011 to support commercial scale projects."
Characteristics of ideal investors

Describe qualities of new investors you seek.

Example: "Venture investors with experience in biofuel investing. Forestry companies, or other large corporations with or without corporate venturing divisions that would benefit from disruptive biofuel innovation."
One line summary of what makes the business investment worthy and investment ready. *
Maximum Allowed: 20 words. Currently Used: 0 words.

Maximum 20 words.
Desired close date for funding * MM / DD / YYYY
You do not need to be precise, but give a reasonable indication of your practical needs.
Upload financial statement *

Attach your latest year's financial statements to your application by pressing the browse button above, navigating to where the file resides on your hard drive or server, and selecting a single electronic file that contains your financials. You do not need to then press the upload button above, but there's no harm if you do. If you do not yet have formal financial statements, attach the pro-forma financials from your business plan.
If applicable: upload picture(s) or schematic(s) of the technology.

This is not essential, but will be helpful. Only one or two pages please!
Terms and Conditions

THIS AGREEMENT (will be dated the date of application acceptance) BETWEEN you and; ecoConnect CIC dba Greenbackers, ecoConnect CIC is a not-for-profit organisation registered in England and Wales (company no. 7081905, VAT no. 992111525)

(“Greenbackers”) AND: Your Company

WHEREAS:
Upon selection by the selection committee, Greenbackers will arrange for the Company to attend one of its investor matchmaking events to present to clean technology investors, and/or if opted into by the Company, Greenbackers will distribute the Company’s information electronically to clean technology investors participating in its entrepreneur and investor matchmaking program (collectively or individually, “Activities”); and The Company will pay an up-front application fee of £250.00 + VAT to Greenbackers.
The Company will agree to undertake to attend, or will have already attended, a Coaching Workshop (Cleantech Bootcamp: Pitching for Green Investment Workshop) to be held prior to the investor matchmaking event, paying the public entry rate (£45.00 + VAT as of June, 2011)

The parties hereto agree that Greenbackers will be entitled to a finder’s fee (see paragraph 3 below) upon the successful completion of an agreement between the Company and any prospective investors or customers to which an introduction was directly facilitated by these Activities.

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants and agreements herein contained and subject to the terms and conditions hereafter set out, the parties hereto agree as follows:
1. In this Agreement:
(a) “affiliate” means with respect to any person, any other person who directly or indirectly controls, is controlled by, or is under direct or indirect common control with, such person, and includes any person in like relation to an affiliate;
(b) a person shall be deed to “control” another person if such person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such other person, whether through the ownership of voting securities, by contract or otherwise, and the term “controlled” shall have similar meaning;
(c) “person” is to be broadly interpreted and includes an individual, a corporation, a partnership, a trust, an unincorporated organization, a governmental authority or body, and the executors, administrators or other legal representatives of an individual in such capacity; and
(d) a financing or sales contract shall be deemed to have been directly facilitated by Greenbackers Activities where such financing or sales contract is with any attendee of a investor matchmaking event at which the Company presented, or any affiliate of an attendee, or any investor, or any affiliate of an investor, participating in Greenbacker’s program if opted into by the Company.
2. The Company hereby agrees to pay to Greenbackers a finder’s fee with respect to any financing or sales contract obtained by the Company as a direct result of introductions facilitated by the Activities (the “Finder’s Fee”) and completed within 24 months of the commencement of the Activities. For the purposes of this Agreement, a financing transaction shall be deemed to be completed upon closing of such financing and a sales contract shall be deemed to be completed upon the entering into a definitive sales contact (each, a “Closing”).
3. FINDERS FEE: The amount of the Finder’s Fee shall be as determined by the following formula:
(a) 5% of the first million Pounds (£) the Company is entitled to receive under the transaction;
(b) 4% of the second million Pounds (£) the Company is entitled to receive under the transaction;
(c) 3% of the third million Pounds (£) the Company is entitled to receive under the transaction;
(d) 2% of the fourth million Pounds (£) the Company is entitled to receive under the transaction; and
(e) 1% of the value of all amounts above four million Pounds (£), which the Company is entitled to receive under the transaction.
4. PAYMENT OF FINDERS FEE
(a) If a Finder’s Fee shall become payable to Greenbackers as the result of an equity financing of the Company, the Company will pay the Finder’s Fee to Greenbackers by certified cheque, bank draft or wire transfer to an account designated by Greenbackers in writing.
(b) Greenbackers offers the option, at Greenbacker's and the Company's sole discretion, negotiation and agreement, to receive the Finder’s Fee in equity securities of the Company.
(c) If item 4b of this agreement is not agreed to by both of the Parties, then item 4a of this agreement shall remain in effect and mandated.
5. The Finder’s Fee shall be paid within 15 business days of the Closing of a financing that is subject to this Agreement or within 15 business days of each receipt by the Company of monies under a sales contract subject to this Agreement (each, a “Payment”). With respect to Finder’s Fees paid in respect of sales contracts, payments shall be calculated on the total value of the contract and paid proportionally on each Payment received by the Company for the first two years of any such sales contract.
6. The Company shall promptly notify Greenbackers following the execution of any letter of intent, term sheet, engagement letter or other agreement relating to a pending financing or commercial sale that would trigger a Finder’s Fee under this Agreement.
7. The Company shall be responsible for any of its own travel expenses and accommodation expenses related to the Activities.
8. Greenbackers is hereby engaged by the Company on a non‑exclusive basis and the Company may, in its sole discretion and on terms it deems appropriate, engage or retain other parties to assist it in locating and securing investors or customers.
9. Greenbackers is hereby engaged by the Company for the sole purpose of facilitating the introduction of the Company to prospective investors through its Activities. Greenbackers has no authority to negotiate or enter into agreements on behalf of the Company. All negotiations and technical presentation to prospective investors shall be made or carried out by the Company.
10. Greenbackers is not registered as an investment dealer or advisor with any securities commission or similar regulatory authority in any jurisdiction and cannot and will not, have any involvement in any transaction that may take place between the Company and any prospective investor.
11. Greenbackers will not:
(a) discuss any matters with the Company or investors that requires familiarity with securities;
(b) advise the Company or investors on the merits of particular investments, securities, any proposed listing of securities on any exchange or quotation service or otherwise provide securities advice;
(c) participate in negotiating the terms of any transaction; or
(d) handle funds or securities in connection with any transaction.
12. The Company represents and warrants to, and covenants and agrees with Greenbackers that:
(a) the Company is duly and validly existing under the laws of the jurisdiction stated on the first page of this Agreement;
(b) this Agreement has been duly approved by all requisite corporate actions of the Company and the Company has good and sufficient right and authority to enter into this Agreement on the terms and conditions set forth herein and to pay the Finder’s Fee;
(c) the making of this Agreement and the completion of all the transactions contemplated hereby will not conflict with, or result in the breach of or the acceleration of any indebtedness under, or constitute default under, the constating documents of the Company or any indenture, mortgage, agreement, lease, license or other instrument to which it is a party or by which it is bound, or any judgment or order of any court or administrative body by which the Company is bound;
(d) to its knowledge, the execution and delivery of this Agreement, the performance of its obligations under this Agreement and the completion of the transactions contemplated under this Agreement will not result in the violation of any law or regulation by the Company; and
(e) all information provided by, or to be provided by, the Company to Greenbackers or to any prospective investors in connection with this Agreement, or the transactions contemplated hereby is, or shall be, true and complete in all material respects.
13. The Company authorizes Greenbackers to submit information provided by it to potential investors. Greenbackers has not verified the information provided by the Company and makes no warranties or representations regarding the truth, accuracy or completeness of the information provide by such. Additionally, Greenbackers is not responsible for the release of any confidential, restricted or proprietary information provided by the Company in its application.
14. Greenbackers makes no warranty or representation that any of the Activities or related services provided by Greenbackers will result in the Company completing a financing or procuring a sales contract.
15. Nothing contained in this Agreement shall be construed as:
(a) creating any obligation on Greenbackers to market the Company or solicit prospective investors for the Company; or
(b) constituting Greenbackers as an agent of the Company.
16. This Agreement shall not be construed as a partnership, and Greenbackers shall not be liable for any obligation incurred by the Company, nor shall Greenbackers be liable for any injuries, liabilities or damages suffered by or caused by the Company. In the event of any breach of any of the representations, warranties or covenants herein contained, the breaching party shall indemnify, defend and hold harmless the other party from any and all damages, claims, losses, causes of action, costs, expenses and fees incurred by the other party, directly or indirectly, as a result of any such breach.
17. The Company agrees to indemnify and hold harmless Greenbackers, its officers, directors, employees, agents and their respective affiliates (the “Indemnified Parties”) from and against all claims, damages, losses and expenses, direct and indirect, or consequential damages, including but not limited to fees and legal expenses, including any arbitration costs, arising out of or resulting from the performance of the work by or claims against the Indemnified Parties related to the services performed for the Company. This indemnity shall survive termination of this Agreement and complete from any of the transactions contemplated hereby.
18. This Agreement constitutes the entire agreement between the parties with respect to its subject matter, and supersedes any prior understandings and agreements between the parties with respect to its subject matter. There are no representations, warranties, forms, conditions, undertakings or collateral agreements, express implied or statutory between the parties other than as expressly set forth in this Agreement.
19. The term of this Agreement shall be 2 years from the date of this Agreement. Notwithstanding termination or expiry of this Agreement, if the Company completes a Closing of a transaction that would otherwise be subject to a Finder’s Fee under this Agreement, Greenbackers shall be entitled to receive a Finder’s Fee with respect to such Closing, including with respect to Payments received by the Company after such expiration or termination of this Agreement.
20. The decision of whether or not to proceed with any proposal shall be at the sole discretion of the Company, and the Company shall incur no obligation whatsoever to Greenbackers in the event that any proposal is rejected.
21. Any notice under this Agreement will be given in writing and must be delivered, sent by facsimile or electronic communication or mailed by prepaid post and addressed to the party to which notice is to be given at the address of the party provided on the first page of this Agreement or such other address designated by the party in writing.
22. Time shall be of the essence in the performance of this Agreement.
23. This Agreement will be subject to and construed in accordance with and governed by the laws of the The United Kingdom and Northern Ireland and the laws of The United Kingdom and Northern Ireland applicable therein.
24. This Agreement may not be assigned by either party hereto.
25. This Agreement may be amended in writing with the mutual consent of both parties.
26. This Agreement shall be binding upon and shall enure to the benefit of each of the parties hereto and their respective permitted receivers, successors and assigns.
27. For the convenience of the parties, this Agreement may be executed in any number of counterparts and delivered by facsimile or other electronic means, and each executed counterpart shall, for all purposes, be deemed an original and shall have the same force and effect as an original, but all of which together shall constitute in the aggregate one and the same agreement.
IN WITNESS WHEREOF the parties hereto have caused their duly authorized representatives to execute this Agreement on the date of this application's acceptance. A personalized copy will be emailed as reference to the email address entered above upon acceptance.
Terms and Conditions *
I confirm that I have read and agree to the above terms and conditions.
Select a Choice *
I confirm that I have attended an ecoConnect Coaching Workshop (Cleantech Bootcamp: Pitching for Green Investment Workshop) I confirm that I have registered for an upcoming ecoConnect Coaching Workshop (Cleantech Bootcamp: Pitching for Green Investment Workshop)

If you have not attended or registered for a workshop you can click here to do so now.
Date of Application Submission * MM / DD / YYYY
Please enter the date for when this application is submitted
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ecoConnect CIC

Terms and Conditions