Angers: Three MBA students ' entrepreneurial stories

Pan Shong Shanghai reported that in mid-August, Angers Petroleum Technology (Shanghai) Co., Ltd. (hereinafter referred to as "Angers") received a total of 10 million U.S. dollars investment in profit peak venture, Jingwei China and DFJ.　　This is Angers received the B-round financing, a year ago, Jingwei China voted 2.5 million U.S. dollars, is for a round of financing. Anges main for large oilfields to provide treatment of sewage services.　　Whether it is the Chinese partner Square yuan, or DFJ China Vice President Cheng, mentioned Anges technology, are quite certain, recognized that it is the leading company in this field. In addition, Anges also has an extremely suitable investment of various factors--three founder division of work, clear and simple stock right; business model is clear, in the early 2009 when the establishment of the first sale of sewage treatment equipment, 2010, the transformation of the company to provide services, the transformation of success, then realized the profit.　　In addition, due to the sealing of the petroleum system, a certain threshold of admittance has been formed naturally.　　This looks good company, can quickly big, future successful landing gem?　　Only sold two devices in more than a year. In Angers chairman He Wenyi View, in the oil system began to market and environmental protection increasingly attention to the dual background, Angers emerged. Daqing oil Field Company chief Accountant Shanhong 2010 public to the media said: "Now the comprehensive water content of Daqing oilfield has reached more than 90%." In other words, the mixture of oil and water vapor produced from the ground is less than 10%, and more than 90% of the gas is in it. He Wenyi pointed out that, such as daqing oil field, "three times" the proportion is very high, these oil and gas mixtures, there are many additives.　　After the oil is extracted, how to deal with the remaining water becomes a headache for several big oil groups. The so-called "three-time oil recovery" is relative to "first oil recovery" and "two times oil recovery". "First oil recovery" means to hit an oil well, the oil is automatically sprayed out; "Two oil recovery" means that when the oil field is not so "rich", this way the oil does not automatically gush out, then the oil workers in the side of a well, to inject high-pressure water or gas into the well, to force the oil out; to "three oil recovery",　　Instead of water, workers poured some polymers into the well. The more it gets back, the harder it is to harness the sewage.　　The longer the oil field is mined, the higher the proportion of "three oil recovery" is often. At the same time, since 2005, the State Environmental Protection Administration has repeatedly launched the "Environmental Storm", the environmental requirements of all enterprises to improve.　　2005, Shandong Province Dongying first to the Shengli oil field issued 60 million yuan of the EIA, after the media said that the victory of the oil field may be issued 900 million yuan of the sky-high ticket. At this time, he is intended for the Aetna economy and Business Administration college EMBA students Li Songyuan noticed the business opportunities. 2005 He Wenyi was only 30, Li Songyuan 45 years old, when the general manager of Changchun Expressway Co., Ltd. Li Songyuan graduated from Daqing Petroleum Institute, and then, although not outside the oil system, has been keeping in touch with undergraduate students, and therefore has a considerable understanding of the oil system. He knew thatIn the petroleum system, "oil recovery" is the most important evaluation index, the main research and development power of oil field concentrates on how to produce more oil, the pollution control has been at the edge position.　　Li Songyuan has been in the system, but has a restless personality, he decided to seize the opportunity, can say, this is probably the only one in his life, but also may be the last opportunity to start a business. So, in June 2005, He Wenyi, Li Songyuan, and another of their emba classmates, Song, jointly set up the Daqing oil Field Wastewater research Project Department. This is actually the predecessor of Angers, but it is not even a company.　　Three people to pay together, mainly Li Songyuan to do technology, to study the problem of oil sewage treatment. Such a dormant is four years. At the end of 2008, Li Songyuan will overcome the technical difficulties, three people think this thing can be done, in March 2009 set up a Angers. Subsequently, Li Songyuan began to use their classmate relationship, began to promote Angers developed sewage equipment to major oil fields.　　Millions of of the equipment, not so good to sell, by 2010, Jingwei China found Angers before they three people but sold 2 units. From selling equipment to selling services at the beginning of 2010, Jingwei Chinese partner Fang Yuan noted Angers, after months of contact and due diligence, May Jingwei China decided to invest. This is Angers obtained a round of financing, 2.5 million dollars, about 20% of the shares.　　This means that latitude and longitude China to the Angers valuation, about 80 million yuan. Jingwei Chinese partner Yuan said that their bullish Angers first lies in their innovative technology, as far as he knows, is the most suitable technology and equipment for rapid processing of highly difficult oilfield wastewater; The whole process is highly integrated, Trucks can be easily transported to various drilling blocks to treat sewage-which determines that Angers is suitable for oilfield sewage treatment services and is easy to expand on a large scale; Angers's team is very complementary and the entrepreneurial process can endure hardship.　　In the long run, their technology has a multi-level reserve, in the future can be in the Oil field sewage station transformation and other broader areas of achievements. Today, He Wenyi to China, still full of gratitude: "Jingwei China cast us, we did not profit, even do not know what the business model is, they voted." Jingwei come in is to do the Sino-foreign joint venture structure, the approval is very slow, and we urgently need money, after the investment agreement signed, Jingwei gave us a bridge loan. 2010 Christmas, before and after the B round of financing, Jingwei gave us a bridge loan. "Yuan explained:" May 2010, we have signed the contract with Angers, just because the approval time is long, the money cannot go in temporarily. Since we want to become shareholders, of course, we do not want to see the company's development is financially troubled. Christmas time, because Angers need money to expand capacity to meet the needs of the client side. "The deepest reason that Angelina needs the money to warp China is that it wants to switch from selling equipment to selling services." That is, not to sell a millions of of the equipment to make money, but to the oil field treatment of sewage, treatment of aTons of dollars.　　And in the Angers is most adept at, but is the most difficult fracturing wastewater, drilling mud treatment and other fields, processing a ton can charge to 120 yuan. From selling equipment to selling services, Angers and Jingwei China is almost hit. Their consideration is that China's oil fields are more than 10, sell equipment, sell one less one customer, selling service is a long-term, sustainable way of profit.　　Another consideration is that selling services is more conducive to the secrecy of technology than selling equipment. Jingwei China to Angers brought money, so Angers no longer eager to rely on selling equipment to make money so that enterprises survive. But can produce equipment, to Jilin oilfield, daqing oil field to deal with sewage.　　In this way, in 2010, Angers made 20 million yuan sales, nearly 6 million of the profits. This year, Angers started a B-round financing. In the end, Ying Feng venture capital, Jingwei China and DFJ total investment of 10 million U.S. dollars. He Wenyi that the three investment institutions, their style is very different: "We think Jingwei China is very focused on the business model, to transfer services, we have a financial model in advance, but Jingwei China did very fine." And DFJ is very concerned about technology, we talked with DFJ Chinese people a few rounds, with DFJ headquarters of the people talked about two rounds, 80% of the time talking about technology. "One of the most impressive questions for He Wenyi is:" When we say that we are using microwave technology to treat sewage, dfj people ask, microwave technology pollution, the temperature will be very high, first of high energy consumption how to do? What happens when other components are likely to be heated and have an accident?　　"Microwave technology pollution, that is, using microwaves to interrupt the polymer in the sewage, so that it becomes a common molecule, and then deal with a lot easier." Cheng, vice president of DFJ China, remembers Angers's answer to the question: "They say the sensitization agent is added to the water and can be directed to microwaves without fear of high energy consumption or other components being heated." We also have a lot of water treatment companies in the United States, and as soon as they answer, we know that they are at least technically right, not fooled. "Ying Feng Venture is the United States of the group's core affiliated enterprises, decision-making more quickly, signed a framework agreement, after a week of due diligence to decide to vote Angers." In this respect, its partner Ludin explained: "Jingwei China, DFJ has investigated the company's technology and related background, before casting, we have communication with Jingwei and DFJ, I think we can trust them." Therefore, our main focus on financial, management interviews and customer visits, technology, business model, etc. will no longer repeat the investigation, so save a lot of time. We would be much more cautious if we were to vote on a project alone. "He Wenyi told reporters that they got 10 million dollars in financing, on the one hand can do more technical reserves, such as in the oil field sewage station transformation direction to invest more, on the other hand can expand in Daqing oilfield, and develop more oil fields as customers. He told reporters with full anticipation: "We expect sales revenue this year to achieve 60 million yuan, profit of 20 million yuan." According to this momentum, 2013 years on the gem is not a dream”。 Share to: