The Application of the Business Model Canvas - Derek Dalton Joseph Kelly Eoin Moynihan
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The Application of the
Business Model Canvas
MaREI, 18th April 2016 Derek Dalton
Joseph Kelly
Eoin Moynihan
MARIBE is a Horizon 2020 project that aims to unlock the potential of multi-use of space in the offshore economy (also referred to as Blue Economy). This forms part of the long-term Blue Growth (BG) strategy to support sustainable growth in the marine and maritime sectors as a whole; something which is at the heart of the Integrated Maritime Policy, the EU Innovation Union, and the Europe 2020 strategy for smart, sustainable growth.
• Within the Blue Economy, there are new and emerging sectors comprising technologies that are early stage and novel. These are referred to as Blue Growth sectors and they have developed independently for the most part without pursuing cooperation opportunities with other sectors. • MARIBE investigates cooperation opportunities (partnerships, joint ventures etc.) for companies within the four key BG sectors in order to develop these companies and their sectors and to promote the multi- use of space in the offshore economy. The sectors are Marine Renewable Energy, Aquaculture, Marine Biotechnology and Seabed Mining.
MARIBE links and cross-cuts with the Transatlantic Ocean Research Alliance and the Galway Statement by reviewing the three European basins (Atlantic, Mediterranean, and Baltic) as well as the Caribbean Basin.
J.J. Campbell & Associates • Structural and civil engineering consultancy with public and private sector clients. Established in 1995 • Expertise combines practical construction knowledge with state of the art computer analysis and designs, in particular analysing special structures having complex geometries and requiring sophisticated structural analysis. • Skilled staff include experienced structural and civil engineers, experienced CAD technicians, all IEI members having special expertise in steel and concrete design, FEM analysis, amongst others. • However, to date they have not place anything ‘in the water’.
CÚNAMARA
• CÚNAMARA Wave Energy
Converter (WEC) is a ‘V’ shaped
floating structure.
• Constructed from concrete with
steel superstructure.
• Incorporates oscillating water
columns (OWC) chambers
integrated into the structure.
Image: J.J. Campbell & Associates
Wave Energy Ireland Ltd., a sister
company was incorporated in
2009 and an initial feasibility
study funded by Enterprise
Ireland was completed
After first becoming involved in As part of the first milestone, the
wave energy research in 2001, the company undertook to design and
earliest iteration of the current build a number of 1:50 scale OWC
device was conceived in 2008 devices to be test in MaREI.
2008 2009 2010 2011
On the back of this study, the The company engaged with he
company secured funding from Centre for Renewable Energy at
the Ocean Energy Development Dundalk IT (CREDIT) to perform
Unit (ODEU), a division of the numerical modelling. This was
Sustainable Energy Authority of funded though another EI
Ireland (SEAI) Voucher.
In December 2011, this model
The company worked on the was installed in the ocean basin
second milestone between mid- test facility at the HMRC and
2010 and late-2011, designing testing began in January 2012.
and constructing a 1:50 scale
model. At this time the concept
envisaged stainless steel as the
primary construction material. Company joined the Irish Wave
Energy Developers Association
2011 2012 2013 2014
Report on model testing
delivered.
At the start of 2014, the company A third grant was awarded by SEAI
was awarded a further grant by to the company in late-2015 to
the ODEU to conduct a number of conduct testing to optimised
desktop studies. This allowed the chamber geometry and analyse
company to investigate a number the structural integrity in
of mooring solutions. A number response to extreme loads.
of possible construction sites and
techniques were explored. The
report on this work was delivered
in June 2014.
2014 2015 2016 2017
Black and Veatch engaged to independently assess Upon completion of this
the report on the model testing. This report phase of the project, expected
confirmed the validity of the testing techniques and mid to late 2016, the
data processing, and was broadly positive about the company believes it will have
device. completed TRL 3. Efforts to
develop a work package to
Following delivery of these reports, the company progress the project to TRL 4
considers that is has demonstrated proof of is currently ongoing.
concept and proceeded through TRL1/2, and into
TRL 3
Market Analysis and Competition • Identifying the potential market size • Irish Market • UK Market
Irish Market Overview of the Irish Market • Ireland currently offers FIT’s for wave energy generation valued at €0.26/kWh up to 30 MW. • No current FIT in place for offshore wind but this is possible in the medium to long term.
Irish Market Overview for combination devices of
floating offshore wind and wave technology
Irish Market Overview 2050
Wave Floating Offshore Wind
Ambitious Plan Plan Unit
30 30 Irish Market Potential Installation Capacity (GW)34
1,875 3,750 Market Size in # of CÚNAMARA units
43.6 92 Total energy generated by all CÚNAMARA devices
(TWh/year)
TBD TBD Market size in CÚNAMARA sales (€)
3 Ocean Energy Road Map for Ireland, SEAI
4 Irelands Wind Energy Road Map, SEAIUK Market Overview of the UK Market • UK is in the process of switching from a FIT system to a Contracts for Difference (CFD) system. • Supports in place for offshore wind and wave
UK Overview for combination devices of
offshore wind and wave technology
UK Market Projection 2050
Wave Floating Offshore Wind
Scenario 1 Scenario 2 Scenario 3 Scenario 1 Scenario 2 Scenario 3 Unit
UK Market Potential
2 5 14 2 33 245 Installation Capacity
(GW)9
Market size in # of
125 313 875 250 4,125 30,625
CUNAMARA units
Total energy generated by
2.9 7.2 20.4 6.1 101.2 751.2 all CUNAMARA devices
(TWh/year)
Market size in
TBD TBD TBD TBD TBD TBD
CUNAMARA sales (€)
9 The offshore valuation: A valuation of the UK’s offshore renewable energy resourceCompetition Direction and Indirect Competition
• Floating Power Plant – Poseidon 37 • Floating wave platform and also serves as a floating base for multiple wind turbines • Pilot device, located in the Baltic Sea near Denmark • Installed 33kW from wind and 50kW from wave • Installed in co-operation with DONG energy • Following pilot, Poseidon 80 model is to have 5MW wind and up to 2.6MW wave Image: Floating Power Plant
KNSWING • Ship like concept which is also constructed primarily from concrete, incorporating 20 Oscillating Water Columns on each side. • Tank tested at 1:50 scale in 2013 • Full scale is approximately 150 metres long and estimated to absorb 2,900 kW Image: MARINET
Pelagic Power
• A lightweight semi-submersible floating
platform for a combination of wind and
wave
• Platform will be more than 10MW total in
areas with a strong wave climate
• Third corner of platform is reserved for a
helipad
• Wave conversion consists of three lines of
Image: Pelagic Power
free floating wave-actuated hydraulic
pumpsIndirect Competition Alternative Renewable Energy Sources (Onshore wind, fixed offshore wind) • In the Irish market, main competitor is onshore wind which has a current operational capacity of 3,025MW • The UK market’s fixed offshore wind is currently on course to deliver 10GW by 2020
Conventional Generation from Fossil Fuels • Global energy continues to be dominated by oil-based generation sources and coal. • These sources currently account for approximately two thirds of all global energy demand. • Opportunity available as governments are becoming wary of over- reliance of importing these energy sources.
Business Model Canvas Application to J.J. Campbell and CÚNAMARA
Customer Segments • Who we are creating value for? • Who are our most important customers?
Customer Segments
Potential target customers for
J.J. Campbell & Associates
once fully commercial.
Criteria:
• Large annual revenue
• Renewable energy
experience (preferably
offshore)
• Interest/experience in wave
energy industry
EWEA: The European offshore wind industry – key trends and statistics, 2015• HQ in Sweden
• Currently operate over 100 wind
turbines throughout Europe
• Expanding offshore operations
• Total revenue of €18.8 billion with
30,000 employees (2013)
Image: Pelamis Wave• One of the largest electricity providers in Europe
• HQ in Germany
• Total revenue of €11.56 billion and 58,000 employees (2014)
• Former partners with Pelamis Wave Power
Image: EMEC (European Marine Energy Centre)• HQ in Denmark • Danish government majority shareholder • Over half its income from offshore wind • 3,000 MW installed capacity, revenue of €7 billion and 6,700 employees (2015) • Dong has previously partnered with Wavestar and Floating Power Plant Image: Wavestar Energy in combining wind and wave
• Subsidiary of the state owned ESB group • €3.4 billion in revenue and 7,870 employees (2013) • Deliver large scale, capital infrastructure projects for international clients • Setting up West Wave project – 5MW capactity Image: Aquamarine Power
• HQ in Norway
• Operates oil and gas fields in 12
different countries
• Revenue of €94 billion with over
2,300 employees (2015)
• Currently developing floating wind
turbine technology
• Commitment to renewables
Image: StatoilValue Proposition • The bundle of products and services that create value for a specific customer segment. • What value are we offering to our customers?
Value Proposition • Construction – concrete modular units. • Mooring – conventional methods of mooring. • OWCs – one of the most proven forms of wave energy conversion • Combination – higher load capacity from two forms of resource.
Value Proposition
Value Proposition Canvas
Value Proposition Canvas
Value Proposition Canvas
Value Proposition Customer Segments
JJ Campbell Renewable Energy Developers
Gain Creators Pain Relievers Product Gains Pains Job
Markets near deep Access in adverse weather Adverse Weather
Growth Generate electricity
water (Floating Tech) conditions conditions
Renewable Energy
Lower €/MW through Licencing and
More favourable licencing process Reduced €/MW Decarbonise Electrcity
combination consenting
Wave Energy more More predictable energy Reduced Support for
Run at profit
predictable resource FIT
New industry will give a JJ
High technology Competitive fixed
TRL 9 technology Campbell customers a "first to
reliability offshore wind market
market" advantage
Proven success in
Track record
construction projects
Combination gives a
Brand Image
better brand imageChannels • How a company communicates with and reaches its customer segments to deliver value proposition. • How do our customers want to be reached? • How do we reach our customers?
Marketing & Sales
Distribution
Customer Relationships • The types of relationships a company establishes with specific customer segments. • Three main motivations: Customer Acquisition, Customer Retention and Boosting Sales (upselling).
Revenue Streams • The income a company generates from each customer segment.
Revenue Streams
Key Resources • The main inputs the company uses to create its value proposition, service its customer segment and deliver the product to the customer.
Key Resources
Key Activities • Primarily dictated by its business model. • Fulfilling its value proposition Reaching its customer segments, Sustain its customer relationships, Create long-term revenue streams.
Key Activities
Key Partners • The network of partners that make the business model effective. • Can optimize its resource utilization, create new resource streams or mitigate risks.
Key Partners
Cost Structure • All the costs that a business can or will incur if it opts for a particular business model. • Three other building blocks are contributors to the cost structure block. • Must evaluate the cost of creating and delivering the value proposition, creating revenue streams and focus on long-term customer relationships.
Cost Structure
Further Information:
J.J. Campbell & Associates
info@jjc.ie
Gordon Dalton, MARIBE Project Co-ordinator
g.dalton@ucc.ie
Eoin Moynihan Joseph Kelly
Eoin.Moynihan@ucc.ie Joseph.Kelly@ucc.ie
www.maribe.eu
@maribeproject
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