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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Context 

We transformed a leading mineral supplier’s approach to innovation by helping them transition from a siloed R&D model to a comprehensive open innovation strategy. The company had been engaging with startups through isolated business units, which limited their potential for collaboration and growth. Our team was tasked with structuring a future Open Innovation department, identifying the appropriate vehicles for engagement, and determining how to organize them effectively. Through tailored workshops and our proprietary methodology, we guided the strategy team in clarifying their innovation objectives and developing a robust portfolio of initiatives.

Mission

• Carried out an audit on their knowledge of the different vehicles available at hand
• Definition of the objectives of the future open innovation department in line with the group’s strategy
• Evaluation of the different vehicles to meet these objectives
• Selection of 5 complementary vehicles to form a portfolio
• Definition of a ramp-up roadmap (walk, run, fly) for the deployment of these vehicles and associated human resources
• Support in the design of the future governance

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Context 

With over 1 million startups operating in the world, it takes time and expertise to build a robust deal flow. Yet, its quality is the cornerstone of success of Open Innovation, CVC, M&A and Strategy teams.

Aster Fab’s mission was to build for our client a robust startup deal flow from scratch, and then, throughout the last four years, to be in charge of qualified deal sourcing.

Mission

• Mapping of the topics and technologies of strategic interest to the group
• Selection of 10 topics to carry out deep dives on throughout the year
• Technology studies to deepen the group’s knowledge of a given technology and analysis of weak signals: technology analysis, patent analysis, fundraising analysis, competitor benchmark, mapping of the startups populating the space, etc.
• On-going outbound sourcing on strategic topics
• Qualification calls with the most promising startups
• Bi-monthly presentations to the client of qualified startup opportunities

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Context 

Industries are facing increasing pressure to reduce their carbon footprint swiftly.

Conducting a carbon footprint assessment is a starting point, as it allows to amount the company’s greenhouse gas emissions (GHG), compare them to established benchmarks and devise a robust decarbonization trajectory.

Aster Fab was missioned to conduct the company’s carbon assessment (scope 1, scope 2 & scope 3) and support in the establishment of their decarbonization trajectory.

Mission

• Definition of the organizational perimeter and operational scope 
• Data collection carried out in coordination with the client-side data collector (scope 1, scope 2, scope 3)
• Formulation of assumptions for missing emission factors
• Emission calculation and input of data into a structured table
• Creation of graphs to highlight the most important sources of emissions
• Recommendations on the action levers to reduce the carbon footprint and establishment of the client’s decarbonization trajectory

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Context 

Our client has long been a leading manufacturer of machinery for the construction, agricultural and logistics sectors.

More specifically, in recent years, the group has been developing electric machinery. Within the framework of this strategic orientation, our client has a double challenge: to invest in innovative technologies and to develop its electric vehicle business in order to present a competitive offer that meets the market’s needs.

Aster Fab’s mission was to support our client in the closing of a deal with a modular battery startup. In addition, Aster Fab has been commissioned to work on other M&A deals carried out by the group.

Mission

• Valuation of the startup using five different methods (comparable company analysis, precedent transactions, DCF analysis, R&D headcount, replacement cost value)
• Structuring the acquisition 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 until the completion of the transaction
• Support in the preparation of separate documents for the governance bodies: Audit Comittee, Strategic Committee and Board of Directors
• Coordination of the due diligence and the closing of the deal

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