Innventure, Inc. · NASDAQ:INV
Innventure — SPAC Merger (January 2024)
37 slides from Innventure's SPAC merger presentation, Jan 29, 2024
Slide 1: Investor Presentation January 2024
Investor Presentation January 2024
Slide 2: Disclaimer
Disclaimer 2 This presentation (the “Presentation”) has been prepared by Innventure, LLC (“Innventure” or the “Company”) and Learn CW Investment Corporation (“Learn CW” or the “SPAC”) in order to assist interested parties in conducting their own evaluation of the potential business combination of th
Slide 3: Disclaimer
Disclaimer 3 expectations regarding Innventure’s and the Innventure Companies’ strategies and future financial performance, including their future business plans, expansion and acquisition plans or objectives, prospective performance and opportunities and competitors, revenues, products and services
Slide 4: Disclaimer
Disclaimer 4 the possibility that Learn CW and/or Innventure may be adversely affected by other economic, business, and/or competitive factors; the potential characterization of Innventure as an investment company subject to the Investment Company Act of 1940; operational risk; and the risk that the
Slide 5: Disclaimer
Disclaimer 5 Trademarks In addition to trademarks, service marks, trade names, copyrights and logos of Innventure and its subsidiaries contained herein, this presentation contains trademarks, service marks, trade names, copyrights and logos of other companies, which are the property of their respect
Slide 6: Innventure – A Technology Commercialization Company
Innventure – A Technology Commercialization Company 6 Focus on Growth Track record of value growth across various proven high demand technologies(2) MNC Technology Solution Relationships Extensive de-risked proprietary pipeline of technologies from relationships with MNCs with a combined enterprise
Slide 7: Transaction Overview
Pro Forma Valuation Pro Forma Ownership Sources & Uses Transaction Overview(1) 7 Sources ($ mm) SPAC Cash in Trust(2) $100 Stock Consideration to Existing Shareholders(3) (5) 379 Total Sources $479 Uses ($ mm) Stock Consideration to Existing Shareholders(3) $379 Cash to Balance Sheet 85 Estimated Tr
Slide 8: Innventure at a Glance
Innventure at a Glance 8 2015 2018 2022 2024+ Innventure Company New Company #4, #5, . . . Technology Polypropylene Recycling Technology Liquids Packaging Technology Thermal Management Technology Technology #4, #5, . . . MNC 11 Current MNCs showing technologies to be commercialized with aggregate en
Slide 9: Our View of What Differentiates Innventure's Model
Liquidity for Investors X X ✔ ✔ Investor / LP Time Constraint Significant Significant Limited None Ability to Redeploy Cash Flow X X ✔ ✔ Portfolio Expected Success Rate Low Medium Low High Operational Expertise Limited Limited Mature products and technology Early and growth stage, disruptive product
Slide 10: What Makes Innventure Unique
What Makes Innventure Unique 10 Acquire or license a proven technology(1) from MNC that addresses an expected unmet need Built-in channel to market through MNC accelerates adoption of technology Founder stage owner-operators can create substantial financial leverage Significant monetary and time inv
Slide 11: Innventure Company Operations
Innventure Company Operations 11 Ironton Production Plant Westchester Facility Filling Machines Cooling System Demonstration A PureCycle Technologies became public in 2021 (Nasdaq “PCT”) and, as of December 31, 2023, Innventure owns less than 2% of PCT. (1)
Slide 12: Benefits to Multinational Companies
Benefits to Multinational Companies 12 MNCs invest hundreds of billions of dollars annually in Research & Development – much of that is not commercialized From 2021 to 2022. Metric as of June 18, 2014 Source: FDI Intelligence (https://www.fdiintelligence.com/content/feature/global-innovation-leaders
Slide 13: Innventure's Disruptive Conglomerate Model v. Traditional Venture Model
Innventure’s Disruptive Conglomerate Model v. Traditional Venture Model 13 Technology Creates a new technology and takes all risk that it will ultimately work Innventure starts with a proven technology(1) developed by the MNC Funding Profile Funds riskiest portion of R&D spend which is the developme
Slide 14: The Closed Loop Model
The Closed Loop Model 14 Systematic mitigation of risks inherent in creating and growing high growth, disruptive companies Access Advantage Developed Technology Institutional Data Set Early Customer Adoption Access to technology that is available only through MNCs Access Advantage The MNC is motivat
Slide 15: The Innventure Strike Zone
The Innventure Strike Zone 15 Seeking proven technologies(1) that have been significantly de-risked by MNC partners with benefit of market data De-Risked Business Leverage MNC data and built-in adoption to confirm market demand and identify early customers, de-risking go-to-market pathway and ensuri
Slide 16: Innventure's DownSelect Analysis
Innventure’s DownSelect Analysis 16 Seeks to identify a significant unmet market need with a transformative technology solution that generates meaningful economic value (for both NewCo and MNC) and has a derived, strategic path to market adoption through the MNC…completing the Closed Loop Model Innv
Slide 17: Pipeline of MNCs for Company Launches
Pipeline of MNCs for Company Launches 17 Innventure’s target is to be in dialogue with the globe’s 50 most innovative companies The Company has active relationships at 29 MNCs, and has been shown nearly 100 technologies / potential companies to-date Innventure is in active dialogue with 11 MNCs, inc
Slide 18: Drivers of the Innventure Opportunity
Drivers of the Innventure Opportunity 18 Technology constantly changes business across a diverse set of use-cases. Innventure has extensive experience screening technologies for commercialization to meet expected unmet market needs. Key market drivers and markets in need of a technology solution are
Slide 19: Illustrative Innventure Company Creation Timeline
Illustrative Innventure Company Creation Timeline 19 Target and build relationships with MNCs Commercialize the technology and scale the business: Execute operating plan and scale production in-line with concrete revenue Expand customer set to capture market share Innventure shareholders may realize
Slide 20: Risk Considerations and Mitigation
Risk Considerations and Mitigation 20 Execution Seasoned leadership team with entrepreneurial, operational, and capital markets expertise in early-stage companies from inception through commercialization Adoption MNCs catalyze early market adoption by becoming first customer and/or providing channel
Slide 21: PureCycle Case Study
PureCycle(1) Case Study 21 PureCycle (“PCT”) is the first $1B+ Innventure Company PureCycle, the first Innventure Company, validates the Innventure business model and provides tangible proof point of Innventure’s multi-billion-dollar value creation strategy Multinational Corporation ~$1.0 Billion Cu
Slide 22: AeroFlexx Case Study
AeroFlexx Case Study 22 Milestones Company Description Multinational Corporation AeroFlexx has sole exclusive rights to commercialize the technology globally, across all categories and with any partner Proprietary Integrated Valve Eliminates the need for discrete closures, removes the need for pumps
Slide 23: Accelsius Case Study
Accelsius Case Study 23 Company Description Groundbreaking Two-Phased Technology Accelsius groundbreaking NeuCool™ Platform employs a direct to chip cooling method, using a two-phased fluid reducing energy usage by up to 49% Current Technology at Limits Replaces current air-cooling technology that i
Slide 24: Timeline for Innventure Companies
24 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Technology transfer Patents filed Secured feedstock & offtake agreements Tech Validated – FEU production line completed PCT becomes public at $1.2B valuation (NASDAQ: PCT) Ironton Plant produces first pellets Ownership: ~1.5% Shares Ownership: ~31%
Slide 25: Sustainability as a Value Driver
Sustainability as a Value Driver 25 Evidence of our ability to operate sustainably PureCycle(1) – Purifies and recycles post-industrial and post-consumer polypropylene waste back to a like virgin grade polymer, usable across a broad range of applications and markets AeroFlexx – May use up to 85% les
Slide 26: Leadership – Executive Committee
Leadership – Executive Committee 26 Bill Haskell – Chief Executive Officer Bill serves as Chief Executive Officer for Innventure. Previously, he was a co-founder and President of XL TechGroup that created the foundational business building methodology upon which Innventure is based. Bill has worked
Slide 27: Leadership – Chief Investment Officer and Chief Technology Officer
Lucas Harper, CAIA – Chief Investment Officer, Investment Committee Lucas is a member of the Investment Committee and serves as Chief Investment Officer of Innventure and brings over 20 years of experience in managing investment teams, building companies / business units and the seeding and buildout
Slide 28: Innventure's Economic Sustainability Playbook
Innventure’s Economic Sustainability Playbook Process for systematically scaling our businesses MNC has invested millions of dollars over several years to develop technology solutions as well as understands unmet strategic market need Identify Technology Solutions Innventure team led by executives w
Slide 29: Innventure Companies
Innventure Companies
Slide 30: AeroFlexx Overview
AeroFlexx Overview 30 Superior Sustainability Benefits Strong Value Proposition to Customers Aligned with UN Sustainability Goals Virgin Plastic Avoidance Significant reduction by using up to 85% less virgin plastic vs. rigid bottle/cap alternatives Package Circularity Package can incorporate up to
Slide 31: AeroFlexx Executive Leadership
AeroFlexx Executive Leadership 31 Andrew Meyer– Chief Executive Officer Andrew is the CEO of AeroFlexx and Serial CEO for Innventure. He brings with him extensive experience in entrepreneurial environments having spent the last 15 years within 4 different venture-backed technology start-ups that inc
Slide 32: Accelsius Overview
Accelsius Overview 32 Target Market Transformative Technology Telco NeuCool™ can cool high power servers driven by 5G and profitable edge services which we predict, based on calculations made in reliance on data from the 451 Group, to grow to over 2M servers installed annually in edge locations by 2
Slide 33: Accelsius Executive Leadership
Accelsius Executive Leadership 33 Josh Claman – Chief Executive Officer Josh has over 30 years of leadership experience driving growth in Fortune 100 companies such as Dell and NCR and as a CEO in startups with successful exits. He is passionate about businesses that make a positive impact to our wo
Slide 34: Risk Factors
Risk Factors 34 All references to the “Company,” “we,” “us” or “our” refer to Innventure, prior to the business combination and to Holdco following the business combination. The risks presented below are certain of the general risks related to the business of the Company, Learn CW and the business c
Slide 35: Risk Factors
Risk Factors 35 Innventure’s principal revenues are expected to be earned in the future, through its subsidiaries and through the Innventure Companies, and Innventure depends on its subsidiaries for cash. Innventure may not be successful in finding future opportunities to license or acquire breakthr
Slide 36: Risk Factors
Risk Factors 36 Innventure may be unable to sufficiently protect the intellectual property rights of itself and the Innventure Companies and may encounter disputes from time to time relating to its use of the intellectual property of third parties. The market price of the Holdco Common Stock is like
Slide 37: Innventure – The Science of Company Creation
Innventure — = , THE SCIENCE OF COMPANY CREATION