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Powerhouse Ventures Limited Annual Report 2015
Portfolio Report As at 31 December 2015
Powerhouse Portfolio Report – 31 December 2015
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Quarterly Portfolio Report Dear shareholder, I am pleased to provide you with our quarterly portfolio report for the period to 31 December 2015. Powerhouse's vision is to transform seed-stage companies into real-world success stories by following a proven investment pathway. Our aim is to produce attractive returns for our shareholders through the successful commercialisation of intellectual property-based opportunities. Powerhouse is perfectly positioned to take advantage of breakthrough technologies as they emerge. We are currently working on an upgrade of our website and electronic communications platform. We anticipate being able to bring you future portfolio reports through an ‘alerts’ service linked to our website and through the ASX stock exchange announcements platform once the Company lists – expected to be late in the first half of calendar year 2016. A summary of our existing Investment Portfolio as at 31 December 2015 is set out below. Yours sincerely
Stephen Hampson Managing Director
Powerhouse Portfolio Report – 31 December 2015
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Investment Portfolio The Powerhouse Portfolio consists of 19 companies with a Fair Value of $14.5 million at 31 December 2015, from a total investment of $8.7 million.
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Investment Portfolio – By Stage Post-seed 5 companies; $7.8 million Seed 5 companies; $5.3 million Pre-seed
9 companies (2 inactive); $1.4 million
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Investment Portfolio – By Sector Cleantech and Engineering 8 companies; $8.7 million
Medical and Healthcare 4 companies; $1.3 million
Information and Communication Technologies 4 companies (1 inactive); $3.0 million
Agritech and Environmental 3 companies (1 inactive); $1.5 million
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Cleantech and Engineering Post-seed
Stuart McKenzie
(CEO)
Battery technology to extend the life of lead-acid batteries in idle-emission applications. Technology developed at the University of Canterbury.
Management Stuart McKenzie (CEO/MD) John Abrahamson (CTO) Hassan Wong (CFO/COO)
Board Bruce Munro (Chairman) Mike Chisholm Steve Tucker Brendan McNeill Phil Lennon Stuart McKenzie
PVL entered 2011 Enterprise $22.7m PVL 6.6%
Loans None
John Walley
(Interim CEO)
High-efficiency turbines for electricity generation designed using proprietary computational fluid dynamics software. Power range from 200 kW to 30 MW. Targeting in-race and small hydro applications in Oceania.
Management Rik Hothersall (Founder) John Walley (Transitional MD) Aaron Gale (CFO) Paul Wilson (Operations) Warwick Fyfe (Manufacturing)
Board John Errington (Chairman) Richard Chadderton Stephen Hampson Sophie Haslem Rik Hothersall John Hunter
PVL entered 2010 Enterprise $19.1m PVL 23.0%
Loans None
Doug Hastie
(CEO)
Super-nose technology for the detection of volatile organic compounds. A spin-out from the University of Canterbury.
Management Doug Hastie (CEO) Murray McEwan (CTO)
Board Ruth Richardson (Chairman) Michael Bushell Richard Coleman
PVL entered 2012 Enterprise $32.1m PVL 1.6%
Loans None
Seed
James Robertson
(CEO)
Invert Robotics has breakthrough technology enabling robots to climb a range of industrial surfaces. This technology is used to inspect industrial vessels quickly and safely. Technology developed at the University of Canterbury.
Management James Robertson (CEO)
Board Stephen Hampson (Chairman)
PVL entered 2011 Enterprise $1.6m PVL 43.2%
Loans Callaghan $450k
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Nicola Martin (MD)
Solar-powered LED lighting for roading and industrial environments including black ice warning systems.
Management Nicola Martin (Managing Director) Pat Martin (Founder)
Board Nicola Martin Pat Martin Stephen Hampson
PVL entered 2012 Enterprise $1.9m PVL 24.6%
Loans PVL short-term $872k
Craig Tuffnell (CEO)
Real-time bacteria detection technology applied to the food industry for food safety and quality. Developed at the University of Canterbury.
Management Craig Tuffnell (CEO)
Board Stephen Hampson (Chairman) Stuart McKenzie
PVL entered 2013 Enterprise $3.3m PVL 17.0%
Loans None
Pre-seed
Sam Davies Talwar
(CEO)
Koti is pushing the boundaries of traditional coating systems in a wide range of applications including Silicon wafer manufacture, aerospace and general manufacturing. Technology developed at the University of Canterbury.
Management Sam Davies Talwar (CEO)
Board Stephen Hampson (Chairman) Keith McConnell
PVL entered 2012 Enterprise $0.5m PVL 56.7%
Loans Callaghan $450k
Ojas Mahapatra (CEO)
Reliable, calibration-free gas detection using laser spectroscopy. This technology was developed at the University of Otago.
Management Ojas Mahapatra (CEO)
Board Steve Silvey (Chairman) David Christensen Craig Tufnell
PVL entered 2013 Enterprise $1.0m PVL 36.6%
Loans None
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Information and Communication Technologies Post-seed
Scott Barrington
(CEO)
Building Information Modelling is a new way of approaching the design and documentation of building projects. Computer aided design (CAD) models that hold product information.
Management Scott Barrington (CEO & Founder) Shelli O’Neal (CFO)
Board Ed Robinson (Chair) Scott Barrington David Beard Phil McCaw
PVL entered 2011 Enterprise $5.4m PVL 12.7%
Loans None
Seed
Andrew Plimmer
(CEO)
Mobile advertising using image-recognition and virtual reality technology. A spin-out company from the University of Canterbury.
Management Andrew Plimmer (CEO)
Board John Cunningham (Chairman) Miles Hockley Chris Thomson
PVL entered 2012 Enterprise $5.3m PVL 41.8%
Loans None
Pre-seed
Alan Cox (CEO)
Fluent detects emotions by tracking micro-expressions using both facial and voice recognition technologies as some emotions are better detected using visual clues, and others using voice clues.
Management Alan Cox (CEO) Thor Russell Jess Lin Marian Johnson (CMO)
Board Stephen Hampson (Chairman) Alan Cox Thor Russell
PVL entered 2015 Enterprise $0.7m PVL 15.7%
Loans Callaghan $450k
Software environment for the rapid development of animations. Developed by the HITLab, University of Canterbury. On-hold post Christchurch earthquakes.
Management None
Board Stephen Hampson Chang Liu
PVL entered 2009 Enterprise $0.0m PVL 5.8%
Loans None
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Agritech and Environmental Post-seed [None] Seed
Matthew Journee
(CEO)
Decision support software used by crop growers and processors to improve yield. Developed by Plant and Food Research.
Management Matthew Journee (CEO) Jane Hill (COO) David Rankin (CTO)
Board Bruce Foulds (Chairman) Stephen Hampson Peter Roborgh Steven Wakefield Susanne Clay
PVL entered 2010 Enterprise $4.3m PVL 31.9%
Loans Callaghan $450k
Pre-seed
Matthew Jones (CEO)
CertusBio’s sensors will enable real-time analysis of substances that are either used in industry, produced by industry or disposed of as waste by industry, which currently have to be analysed using off-site and offline lab-based techniques.
Management Matthew Jones (CEO) Michelle Haggers (COO)
Board Stephen Hampson
PVL entered 2015 Enterprise $0.2m PVL 62.5%
Loans Callaghan $450k
Large scale DNA extraction technology, especially for soil.
Management None
Board Miles Hockley
PVL entered 2010 Enterprise $0.0m PVL 26.9%
Loans None
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Medical and Healthcare Post-seed
Phil Butler (CEO)
Colour x-ray CT imaging. This technology was developed at the University of Canterbury and CERN.
Management Phil Butler (CEO) Anthony Butler (CTO)
Board Phil Butler (Chairman) Anthony Butler Colin Dawson
PVL entered 2013 Enterprise $8.5m PVL 8.5%
Loans None
Seed [None] Pre-seed
Shivali Gulab (CEO)
The platform technology can be used to design new treatments for cancer, infectious disease and allergy, with an initial focus centering on cancer immunotherapy.
Management Shivali Gulab (CEO - on maternity leave, covered by Melissa Yiannoutsos)
Board Ashley Dunn (Chairman) Richard Furneaux Graham le Gros Colin Dawson Melissa Yiannoutsos
PVL entered 2015 Enterprise $1.0m PVL 14.5%
Loans Callaghan $450k
Marcus Haggers
(CEO)
Physiological modelling systems using digital sensor technologies. A spin-out from the University of Canterbury. Note: recent name change from Tiro Lifesciences to Tiro Medical.
Management Colin Dawson (Executive Chair) Marcus Haggers (CEO)
Board Colin Dawson (Executive Chair) Geoff Chase Richard Wien
PVL entered 2014 Enterprise $0.8m PVL 34.4%
Loans Callaghan $450k
Ruth Appleby (Acting CEO)
The company has a platform of cardio endocrine biomarkers that accurately diagnose a range of conditions in heart disease and associated complications which are currently problematic for emergency department physicians.
Management Roland Toder (Exec. Director) Ruth Appleby (Acting CEO)
Board Colin Dawson (Chair) Roland Toder (Exec. Director) David Christensen Steve Silvey
PVL entered 2015 Enterprise $1.4m PVL 11.1%
Loans Callaghan $450k
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About Powerhouse Powerhouse has established itself as a leader in the commercialisation of Intellectual Property (IP) in New Zealand. By working with universities and research-intensive institutions, Powerhouse creates start-up companies that take science and engineering-based innovation to market. Contact details Stephen Hampson Managing Director +64 27 227 9854 [email protected] Colin Dawson Chief Operating Officer +64 21 999 319 [email protected] Paul Viney CFO/Company Secretary +64 21 084 72029 [email protected] Andy Matheson Chief Investment Officer +64 21 240 4701 [email protected] Greg Slade Investor Relations +61 48 891 7882 [email protected]
