Rabobank Group

26-11-2009 | Press Releases

Rabobank, the World Wildlife Fund, the Delft University of Technology and Wageningen University have jointly established the Dutch Greentech Fund. The fund will invest in promising Dutch technology start-ups that develop innovative technologies or processes that make the chain from raw material to end product more sustainable. The related focus is on agriculture, food production and hydro, wind and bio-energy. The fund adheres to stringent sustainability criteria. The fund’s founders are committed to working together to reinforce the innovative strength of businesses and consequently also of the Netherlands.

Sustainability and innovation are vital for the environment and knowledge economy

The fund invests in businesses by strengthening the share capital base, providing access to knowledge and supporting the entrepreneur in processes including developing a prototype into a commercially viable product and conducting the market introduction. Knowledge institutes Wageningen University and the Delft University of Technology are participating in the fund in order to achieve these aims. The World Wildlife Fund’s participation underscores the high level of importance the partners place on sustainability. Rabobank possesses expertise and an extensive network in the field of innovation and sustainability and has a long-standing tradition in the agriculture and food sector.

Amount of equity investment
The fund will invest a maximum of € 2.5 million in a business in the form of a minority stake. The total size of the fund will amount to approximately € 21 million at its inception and this amount could be expanded to approximately € 40 million in early 2010. This level of investment capacity makes the fund an important supplement to the existing seed capital funds and as a result it will further stimulate innovation in agriculture, food production and hydro, wind and bio-energy. In light of the partners’ knowledge and expertise and the available capital, the fund expects to be able to develop a portfolio of between 15 and 25 promising businesses.

Stringent sustainability criteria
The Dutch Greentech Fund will apply stringent sustainability criteria, which have been developed in part by the World Wildlife Fund, in relation to all applications made by businesses. The fund is furthermore launching a pilot that will entail developing a method for calculating, in addition to the financial returns, the future CO2 reduction returns of the technologies developed by the related businesses.

                             Quotes from partners:

Guus Verhees, Fund Manager of the Dutch Greentech Fund: ‘It is wonderful that during a period of economic recession a group of partners with different backgrounds are prepared to invest in innovation and the climate. The added value of the Dutch Greentech Fund is comprised of a combination of knowledge, capital and network that is leveraged to help the entrepreneur to successfully introduce his or her product or technology to the market.’
www.dutchgreentechfund.nl

Ruud Nijs, Director of Corporate Social Responsibility at the Rabobank Group: ‘Working to develop a safe and sustainable food supply and contributing to clean production methods are spearheads of our policy. The Dutch Greentech Fund fits in seamlessly with our idea of joining forces with partners to work towards a sustainable future.’
www.rabobank.com/csr

Johan van de Gronden, CEO of the World Wildlife Fund in the Netherlands: ‘Clean technology is the solution to climate change. What’s more, the sector is growing in all the countries around us. The Netherlands is the only country in which the level of investment in clean energy has declined.* In order to retain sustainable and innovative entrepreneurs in the Netherlands, they must be able to count on investors with a forward-looking vision. And the Dutch Greentech Fund is such an investor.’
www.wnf.nl

* Source: World Wildlife Fund report entitled: ‘Clean Economy, Living Planet: building the Dutch clean energy technology industry.’

Dr. Aalt A. Dijkhuizen, Chairman of the Executive Board of Wageningen University: ‘We view the Dutch Greentech Fund as an extremely important opportunity to help starting entrepreneurs in our field to make their dream become a reality. We wish to utilise our participation in the Dutch Greentech Fund to contribute to genuine innovation and successful business.’
www.wur.nl

Professor Marco Waas, Dean with responsibility for knowledge valorisation at the Delft University of Technology: ‘A lack of risk capital is a key reason for the lagging number of fast-growing clean tech businesses in the Netherlands. And it is precisely these companies that can contribute to strong economic and employment growth in the coming period. The Dutch Greentech Fund is consequently important for the future of the Netherlands.’
www.tudelft.nl