Context 

Our client, a major player in the construction industry, established an intrapreneurship program that led to the creation of a startup gaining traction both internally and externally. The company, that developed a platform for ordering low-carbon concrete, required additional funding to expand further. We mentored the intrapreneur in developing multiple comprehensive business plans and diverse funding scenarios.

Mission

In this context, we supported our client to:

• Team, Market, and Growth Analysis: Evaluate the team’s expertise, commercial robustness, and growth prospects
• Financials: Review the company’s financial health and performance to date, as well as future projections
• Business Plan: Craft a strategic business plan that outlines the company’s vision, objectives, and actionable steps for growth
• Funding Requirements: Assess the amount of funding needed for expansion and how it aligns with the business plan
• Funding Scenarios: Build scenarios to explore different funding options and their potential impact on the company’s future

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Context 

In the charging point operator (CPO) field, there are four main types of players: construction companies, energy companies, OEMs and startups. We worked with a leading construction player to help speed up the deployment of their EV charger network by assisting with funding.

Mission

• Market and Competitor Research: Conducted in-depth analysis to understand the landscape and identify key competitors.
• Customer Interviews: Engaged with current customers to gather insights and feedback on their experiences and needs.
• Financial Model: Developed a comprehensive business plan with a 20-year horizon to ensure sustainable growth.
• Pitch Deck Creation: Designed a compelling pitch deck from scratch to effectively communicate the project’s value proposition to potential investors.

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Context 

In the energy industry, allocating topics between innovation and R&D teams is not always straightforward, as it involves navigating complex challenges and competing priorities. Key considerations in this allocation process include time horizon focus (short, medium, or long term), business proximity (core, adjacent, or new markets), and the Technology Readiness Level (TRL) scale, among others.

Mission

We aimed to illuminate how leading organizations allocate topics within their teams. This exploration covered:

• Key considerations when allocating topics
• Educational content on five key frameworks
• Insights from interviews with nine leading energy companies—TotalEnergies, Ørsted, Iberdrola, EDF, Engie, Saipem, Enedis, Enel, and Galp—highlighting their unique approaches to balancing innovation and research efforts in a rapidly evolving energy landscape.

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Context 

Our client has developed a strong innovation activity to fuel its transformation. In this context, our client asked us to explore market demand for a new offering in dismantling and extracting valuable components from lithium-ion batteries.

Mission

We carried out a study to define the go-to-market strategy:

• Map of the second-life battery value chain, from manufacturing to end-of-life
• Segmentation of second-life component buyers
• Real-world applications of second-life components
• Interviews with 8 potential customers on interest and technical needs
• List of existing technical standards for selling second-life battery cells
• Review of the EU battery regulation compliance
• Recommendations on the go-to-market strategy and prioritization of potential customers to address first

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Context 

Our client has developed a strong innovation activity in order to fuel its transformation. In this context, our client asked us to conduct a deep dive study on waste characterization.

Mission

We carried out a study to define the go-to-market strategy:

• Market study on megatrends and key forces shaping the industry
• Competitor benchmark and illustration of corporate-startup partnerships
• Funding analysis and illustrations of the latest investments
• Patent volume and key patent filer analysis
• Technology mapping introducing 5 segmenting criteria for the scope
• Sourcing of all startups in the field, and scoring them to narrow the list down to highly qualified stones
• Creating collaboration scenarios with each qualified startup and drafting of fact sheet one-pagers for top-rated partners

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Context 

In view of the declining potential of its historical Oil & gas business, our client investigated several diversification opportunities in adjacent markets, consistent with its know-how and energy transition roadmap.

In this context, the Innovation department wanted to evaluate the potential for diversification in the field of Carbon Capture Utilization and Storage (CCUS) and to identify innovative partners with whom to create a complementary business.

Mission

We carried out a deep dive study divided into three steps:

• A market study to paint a complete picture of all the megatrends (new business models, technologies, use cases)
• A startup landscape to identify the innovative players driving CCUS forward worldwide
• A startup scoring to establish recommendations on the most relevant options for collaboration (R&D agreement, commercial partnership, investment, acquisition, etc.)

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Context 

Our client has developed a strong Open Innovation activity in order to fuel its transformation. In this context, our client asked us to conduct a deep dive study on high-temperature superconductors.

Mission

We carried out a study to define the go-to-market strategy:

• Market study on megatrends and key forces shaping the industry
• Competitor benchmark and illustration of large-scale deployments
• Funding analysis and illustrations of the latest investments
• Patent volume and key patent filer analysis
• Sourcing of all startups in the field
• Interviews with these startups to create fact sheet one-pagers

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Context 

Our client was the M&A department of a leading nuclear company.

Until now, the department had always taken majority stakes in established companies. However, an interesting opportunity for a minority investment in an innovative start-up was presented to them by a Business Unit of the group.

Aster Fab’s mission was to assist the department in evaluating the opportunity and then in structuring the investment proposal.

Mission

• Valuation of the startup using five different methods (comparable company analysis, precedent transactions, DCF analysis, R&D headcount, replacement cost value)
• Creation of a business plan in coordination with the Head of Business Unit to identify the business potential of such a partnership
• Structuring the investment proposal by drafting the letter of intent setting out the terms, governance, management package, performance criteria, etc
• Assistance, coordination and negotiation with all stakeholders throughout the process
• Support in the preparation of separate documents for the governance bodies

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