Evolves Renewable Company: Innovation Report and Analysis

This report provides a detailed analysis of managing and developing innovation within the renewable energy sector, specifically focusing on Evolves Renewable Company. It begins with an introduction to the importance of innovation in addressing energy storage challenges, particularly in Australia. The report explores the company's market strategy, including SWOT and PEST analyses, and assesses its growth potential within a competitive environment. It covers marketing and distribution strategies, financial data, and cash flow projections. Furthermore, the report highlights the company's sustainable competitive advantages, management potential, and the importance of IP protection. The analysis includes a review of the company's business plan, external advisors, and competitive advantages, concluding with an income statement and a discussion of grants and other support. The report emphasizes the significance of high-temperature electrolysis as a key innovative solution for energy storage and the potential for market expansion in various countries.

Managing and
developing innovation

INTRODUCTION
 Managing and developing innovation is considered to be one of the most effective
measure which in turn helps in effectively responding to the internal and external
innovation capabilities.
 This study will analyse target market and customers. Furthermore, it also helps in
determining total market potential, market size, trends and customers.
 Lastly, this study helps in competitive analysis and focus on finance forecast.

Problem statement and concept description
 Electrical and Renewable energy sector works for the purpose of development of energy through use of renewable sources which
are not depleting in nature.
 In terms of the contribution of renewable sources towards the generation of electricity, Australia is around about 21.3% of the total
amount which is generated in that nation.
 The major issue faced in the nation is related to the storage of electricity generated with the help of renewable resources.
 The impact of the same is direct over the nation in terms of its capacity to use 100% renewable sources of power generation.
 The aspect which help in removal of this issue is about the development of new kind of batteries and storage system that have
power to store large amount of energy.
 Innovation is the only medium that can help get rid of this issue.
 The basic innovative idea that help to improve the storage includes the use of technology of high temperature electrolysis which
provides an opportunity in conversion of electricity into hydrogen and storage of same in that manner.

Market Strategy
Competitive environment is referred to as the dynamic external system which in turn tends
to compete with the operations of the business.
SWOT analysis
 Strength: Evolves renewable company tends to focus on carrying out business
operations by effectively adapting to new and advanced technology. This helps in being
ahead of its competitors and attain competitive position.
 Weakness: Low cell capacity of the productivity and low profitability of the hydrogen
electrolysis business is the major weakness.

Cont..
PEST analysis
 Political factor: Change in the government policies such as foreign trade policy, labour
laws, environmental laws, trade restrictions, political stability and instability, etc. are
the major influencer in the market for the company to function.
 Economic factor: Variation in inflation rate, disposable income, economic growth,
interest rate, exchange rate, financial incapabilities, etc. are the major influencer in the
market for the company to function.

Cont..
Management Potential
In order to achieve the project it is really important that management should have high potential. This
potential includes the effective development of strategy, minimizing the risk associated with the innovation
and the business. Management should also have the potential to meet the requirement of the project like
team, financial, etc.
Growth potential
This concept have high growth potential specially in present and future resources are getting more and more
and more scarce. But with the help of this technology it can help the people across the world to overcome
the energy challenge. This will increase the potential of storing huge amount of renewable source of energy.

Cont..
Clear market entry
 Evolves renewable company will start its business operations in Alternative Way, Nimbin,
New South Wales 2480, Australia. It is one of the growing sector who tends to focus on
meeting the target of 23.5% and 33 terrawatt hours in the year 2020. Australia tends to
constitute for 14% of Australia's electricity mix. The company has huge scope for potential
expansion of the business in UK, Denmark, Sweden, Germany, Costa Rica, Iceland, etc. they
are one of the top leading countries who has the potential and tends to have leading way in
renewable energy. This in turn helps in effectively expanding their business operations in
several countries. It has been evaluated that, Evolves renewable company has one of the
growing market for higher sustainable growth.

Marketing and distribution
Marketing Strategy
 Company should market it products through social media as it is one of the best way to
market its products to targets customers.
 Another marketing strategy which can be used can be digital marketing.
Distribution Strategy
 Company should choose intensive distribution strategy, as it will help the company to
maximize the sale of its products in the market.

Financial Data
 Clearly articulated selling proposition & strategy: Evolves renewable company has
come up with unique innovative idea which is to increase the potential of storing
renewable energy. This can be a USP for this concept as this increases the storage
capacity of energy.
 Deep IP: In order to protect this idea company can Trade Mark this innovative idea
from getting copied by its competitors in the market. This also helps in identification of
the product in the market and gets distinguished from its competitors.

Cont..
Cash Flow
 The funds will be granted by the venture
capitalist, loans through bank, etc. in order to
carry out the business.
 It helps in managing finances with the help of
trade credit, debentures, equity capital, factoring,
etc.
 It helps in effectively carrying out businesses
operations smoothly.

Cont..
 Relevant in domestic & international markets: For this concept entire globe is the relevant market for
Evolves renewable company. But it should mainly focus on the countries where is there is a need of such type
of technology which can be beneficial for both company and for the customers. Countries like Pakistan, India,
Bangladesh, etc.
 Existing customer traction: For this product there could be various customer tractions which can result in the
growth of this technology. One of the major traction can be the investors who are willing to invest in such type
of business. Another factor can use of social media for generating awareness.
 Clear channel to market: There are various through which Evolves renewable company can market its
product or technology to other countries. But the most effective strategy is selling through intermediaries such
as wholesalers and retailers as company cannot go for direct selling to Asian countries.

Cont..
 Driving team, people we can work with
 In formulation of High temperature Electrolysis different kind of materials can be use includes
solid oxide electrolyze cell which is essential in the nature to develop electrodes and electrolyte.
 Along with the usage of Yttria-stabilized zirconia (YSZ) electrolytes, hydrogen electrodes &
cobalt oxygen electrodes.
 The different number of skills requires in the development of the same includes reasoning and
thinking along with core physics principles, use of AI and robotics and related to investigation
of new sources of generating power.