Our clients Our cleantech team An introduction to

Nomura Code Cleantech

transactions since 2006
Solar Integrated Technologies Inc Juliet Thompson
Managing Director
Corporate finance
Chris Collins
Nomura Code
Chief Executive
Juliet Thompson is a Managing Director and head Charles Walker
of the cleantech practice at Nomura Code. She has Director
Transaction: Merger 14 years of corporate finance experience and has
Activity: Solar panels worked on over 50 transactions including IPOs, Clare Terlouw
secondary offerings, private placements and M&A.
Date: July 2009
Juliet was a founder of Code Securities in 2003
Director
Transaction size: $16m and prior to this was an Executive Director in the life
sciences group at WestLB Panmure. Before joining
Jonathan Senior
investment banking, she qualified as a Chartered Director
Accountant at Deloitte & Touche and worked as an
economist at HM Treasury. Juliet graduated from Phil Walker
TMO Renewables Ltd Ceramic Fuel Cells Ltd PuriCore Plc Bristol University with a BSc in Economics. Director
Richard Potts
Director
A leading European
Uli Kinzel
Director
investment bank
specialising in cleantech
Transaction: Private fundraising Ltd Transaction: Placing and Subscription Transaction: Placing and Open Offer
Activity: Cellulosic biofuels Activity: Fuel cells Activity: “Green” chemicals
Date: June 2009 Date: March 2009 Date: August 2008
John-Marc Bunce Ken Rumph
Transaction size: £11m Transaction size: £16m Transaction size: £8m
Cleantech Analyst
Director of Research
Cleantech Analyst
Director of Research
and life sciences
John-Marc Bunce joined Nomura Code having Ken Rumph joined Nomura Code in September
Fusion IP Plc Ceramic Fuel Cells Ltd Ilika Technologies Limited
built Ambrian’s Alternative Energy coverage from 2009 having built Clear Capital/Noble’s climate
2006-2007 and was ranked No 1 in the 2009 Extel change coverage between 2007-2009. Ken adds
Survey for New Energy and Clean Technologies. energy efficiency, carbon markets and vehicles/
He has been covering cleantech companies for transport to Nomura Code’s existing coverage.
five years having trained at Dresdner in 2003 and A Natural Sciences graduate from Trinity,
having also held positions at Durlacher/Panmure Cambridge, Ken’s experience spans buy-side
Gordon and Dawnay Day. John-Marc holds a BSc (Scottish Amicable) and sell-side (UBS and Merrill
Transaction: Placing Transaction: Placing Transaction: Private Fundraising in Chemistry as well as an MA and an MBA. Lynch). Ken undertook a masters in Environmental
Activity: IP exploitation Activity: Fuel cells Activity: Advanced materials Management at Cranfield in 2006/7 and is a member
of the Institute of Environmental Management
Date: July 2008 Date: May 2008 Date: August 2007
and Assessment.
Transaction size: £2m Transaction size: £9m Transaction size: £7m

Hugh Kingsmill Moore Guillermo Serrano

Head of Sales Director Cleantech Sales
Powerfilm Inc Tyratech Inc Biofusion Plc

Hugh Kingsmill Moore is Head of Equity Sales Guillermo Serrano joined Nomura Code in
at Nomura Code and has been part of the sales November 2008 and is currently responsible for
team since the foundation of the business in 2003. clean technology equities sales. Since 2005 he has
Prior to joining Code Hugh performed specialist been involved in the most successful equity fund
and generalist small cap equity sales roles at raisings for cleantech companies on the London
Transaction: Placing Transaction: IPO (AIM) Transaction: Placing
ING Barings, Greig Middleton and Nomura market, namely Ceramic Fuel Cells, Zenergy
Activity: Solar panels Activity: “Green” chemicals Activity: IP exploitation International where he started his city career in Power, Puricore and TMO. Prior to that Guillermo
Date: June 2007 Date: May 2007 Date: November 2006 1997. Hugh is a Biological Sciences graduate from was dedicated to emerging markets at BBVA, DkW,
Transaction size: $16m Transaction size: £25m Transaction size: £8m Durham University. Santander and Barings. He holds a Bsc (Econ) from
the London School of Economics.

Other members of our sales team – Catherine Isted, Brough Ransom

PuriCore Plc Powerfilm Inc Aqua Bounty Technologies Inc

Contact us
Nomura Code Securities, 1 Carey Lane, London, EC2V 8AE, United Kingdom
Telephone +44 (0)20 7776 1200 Fax +44 (0)20 7776 1201 Email [email protected]
Transaction: IPO (Full List)
Activity: “Green” chemicals
Transaction: IPO (AIM)
Activity: Solar panels
Transaction: IPO (AIM)
Activity: Aquaculture
www.nomuracode.com
Date: June 2006 Date: May 2006 Date: March 2006 Nomura Code Securities Limited. Authorised and regulated by the Financial Services Authority. Member of the London
Stock Exchange. Registered in England no. 4778512. Registered Office: 1 Carey Lane, London EC2V 8AE. A member
Transaction size: £30m Transaction size: $18m Transaction size: £20m
of the Nomura group of companies.
 1
Nomura Code is wholly No. ranked analyst Cleantech adviser
owned by the Nomura Group, team in 2009 of the year 2009
a leading investment bank (The Thomson Extel Pan-European Survey)

with global reach A total of €228m raised

in IPOs since 2005

Nomura Code is part of the Global full service Corporate finance Sales Market making/sales trading Research
Nomura Group, a leading
investment bank with global Nomura has a global network of 26,000 Nomura Code has one of the largest The Nomura Code equity sales team Nomura Code offers a market making Nomura Code has a highly experienced
reach through Nomura in Europe, employees in over 30 countries located sector focused corporate finance teams provides direct access to the institutional service to institutional clients by providing equity research team covering
Asia and the US. Nomura Code in Europe, the Americas and Asia. This in Europe. It combines a wide range of investment community in the UK and information flow in our specialist sectors. “cleantech”, encompassing renewable
has one of the largest and most widespread local office network offers full professional skills and experience with Continental Europe. We believe that This includes news of trading flow, block energy, alternative energy, clean fuels,
experienced sector teams in capabilities in Corporate Advisory, Equity an extensive knowledge and in-depth growth companies and investors are trades, programme trades, agency energy efficiency, energy storage,
Europe, offering the full range of and Debt Capital Markets globally, to understanding of the cleantech and life best served by sector specialists who, crosses and unusual trading volumes. environmental technologies and
advisory, fundraising and broking complement Nomura’s core strength science sectors. We advise companies compared with generalists, provide We also provide an excellent execution consultancy, waste and recycling, water
services. Over the last 10 years in Japan. on strategic development and a full range greater industry insight, have a better service by using our trading technology and emissions markets. The team was
the team has raised €4 billion. of transactions including private equity understanding of the client’s business and market network to secure best ranked No. 1 in the Thomson Extel 2009
placements, initial public offerings, and build closer relationships with prices for client business. Nomura Code survey for UK small cap: New Energy
The core team has been together for over secondary offerings, mergers and investors. The team has very strong, long is a registered market maker in over and Clean Technology.
10 years and established an extensive acquisitions, public takeovers, defences, term relationships with both the generalist 40 cleantech and life science stocks.
network of long-standing contacts with divestitures and joint ventures. Nomura funds and specialist funds that comprise Coverage includes company-specific
companies, institutional investors, hedge Code is also able to advise founders, the potential investor universe for small We provide liquidity in these stocks research: daily industry updates,
funds, private equity houses and venture major shareholders and private equity and mid cap cleantech stocks in Europe. directly to our institutional clients and regularly updated corporate valuation
capitalists. Nomura Code’s experienced investors on divestments and companies We draw upon a collective 50 years indirectly to private clients via retail and operational statistics, but also
team is dedicated to the success of on share buy-back programmes. experience of selling growth stocks in brokers. Our market makers commit thematic or sectoral research. The team
its clients. the cleantech sector to a Pan-European capital to client business to ensure best also writes topical briefings on specific
Our eight corporate finance directors audience and have unrivalled placing execution; this risk-taking service is drivers to the sector which include
have, on average, more than 15 years’ power in both the quoted and particularly valuable in smaller climate change, tighter regulation and
experience in the securities market. We unquoted markets. companies whose stock is seldom energy security. In addition to
have built an enviable track record and traded. As a market maker we have management road shows, the team’s
focus on delivering solutions and building established a strong market position marketing activity includes CEO dinners,
value for our clients. in all our clients’ shares. site visits for investor clients and
conference presentations.
Cleantech is a term used to describe knowledge-
based products or services that improve
operational performance, productivity, or
efficiency while reducing costs, inputs, energy
consumption, waste, or pollution.