What is cleantech? Examples, cleantech companies & top trends
With the world facing an unprecedented environmental crisis, it’s no surprise innovative people are finding creative ways to tackle this mammoth issue head-on. The exponential growth of technology and tech-focused businesses couldn’t come at a more critical time in the history of humanity (to put it lightly!)
There are a number of categories of technology solutions that focus on environmental sustainability as a whole. One of these categories is known as clean technology, often referred to as cleantech.
What is cleantech?
Cleantech refers to any technology, product, or service that aims to reduce environmental impact, optimize the use of resources, and promote sustainability.
Cleantech encompasses a wide range of innovations across various industries, such as renewable energy (like solar, wind, and hydro power), energy storage, green transportation, water purification and management, waste management, and more. The goal of cleantech is to address environmental challenges, mitigate climate change, and create more sustainable and efficient ways of living and operating.
What is the difference between cleantech and sustainability tech?
While similar, cleantech and sustainability tech are different categories of technology and can’t be used interchangeably. The term “cleantech” specifically focuses on technologies that directly contribute to reducing environmental impact and promoting cleaner practices across various sectors like energy, transportation, waste management, and more.
Sustainability tech, on the other hand, encompasses a broader scope. It refers to innovations, strategies, and practices aimed at achieving sustainability across social, economic, and environmental dimensions. This may include categories beyond environmental sustainability but also technology solutions that address social equity, economic viability, resource efficiency, circular economy practices, and more holistic approaches to ensure long-term wellbeing for humanity.
So, while cleantech is a part of the broader sustainability tech category, it’s not one in the same.
What are some examples of cleantech?
While cleantech solutions are all aimed at the larger mission of creating a more sustainable environment and planet for current and future generations, they are broad-ranging in their goals and innovations.
Some of the most common types of cleantech include:
Renewable energy cleantech
Solar panels, wind turbines, hydroelectric power, and geothermal energy systems are prominent examples. These technologies generate electricity without relying on fossil fuels, reducing greenhouse gas emissions.
Energy storage cleantech
Batteries and other storage solutions that store energy generated from renewable sources, allowing for more consistent and reliable power supply.
Electric vehicles (EVs)
Cars, buses, and other vehicles powered by electricity instead of fossil fuels, reducing air pollution and reliance on non-renewable resources.
Green building cleantech
Energy-efficient building materials, smart energy management systems, and designs that optimize natural lighting and ventilation to reduce energy consumption.
Water purification and management cleantech
Technologies focused on purifying water, such as advanced filtration systems or desalination methods, and efficient water management systems that minimize waste.
Waste management cleantech
Innovations in recycling technologies, waste-to-energy systems, and methods for reducing, reusing, and recycling materials to minimize landfill usage.
Smart grid cleantech
Advanced electrical grids that use digital technology to manage and optimize energy distribution, integrating renewable sources and enhancing overall efficiency.
Carbon capture and storage (CCS) cleantech
Technologies designed to capture carbon dioxide emissions from industrial processes or power plants and store them underground to mitigate their impact on the atmosphere.
Agricultural cleantech
Technologies focused on sustainable agriculture, such as precision farming techniques, smart irrigation systems, and agricultural waste management solutions.
Circular economy cleantech
Strategies and technologies that aim to create closed-loop systems, minimizing waste by reusing, repurposing, and recycling materials throughout their lifecycle.
Top cleantech trends of 2024
Due to an increasingly concerning global climate crisis including record-breaking temperatures and extreme weather events, investments in cleantech are reaching new heights.
In fact, global cleantech investment of approximately US$150 trillion is needed by 2050 to stay within the 1.5 degree temperature increase threshold recommended by the Intergovernmental Panel on Climate Change, according to the International Renewable Energy Agency.
Because of the increase in cleantech demand, 2024 promises new trends to look out for when it comes to cleantech innovations.
The emergence of green hydrogen
Green hydrogen is one concept projected to permeate the clean energy industry in 2024. It refers to hydrogen gas produced through a process called electrolysis using renewable energy sources like wind or solar power, showing its potential as a versatile and clean energy carrier. In 2024 and beyond, it will be seen as a critical component in the transition toward a low-carbon or carbon-neutral economy.
Producing green hydrogen at scale, however, currently faces challenges related to cost, efficiency, and infrastructure. One company tackling this head-on is Bloom Energy Corp. Founded in 2001, Bloom has installed over 900 megawatts of fuel cells.
Carbon capture tech to gain momentum
Also known as CCUS (Carbon capture, utilization and storage) captures carbon dioxide emissions using methods like pre- and post-combustion capture and direct air capture. The "utilization" aspect of CCUS involves finding ways to use captured CO2 in various industrial processes, like in the production of chemicals, fuels, or materials. The "storage" component involves injecting the captured CO2 deep underground into geological formations like depleted oil and gas reservoirs or saline aquifers.
One company leading the way with carbon capture tech is Graphyte, a Bill Gates-backed startup that leverages Carbon Casting, a new approach to carbon removal that leverages readily available biomass, to “seamlessly fuses nature's ability to capture carbon with the reliability and durability of engineering, setting a new standard for carbon dioxide removal.”
Electric vehicle acceleration
Another growing trend in cleantech to watch for in 2024 is the accessibility and sale of electric vehicles (EV). Technology continues to improve, enabling lower prices on a large number of EV models and making them more accessible for the general public. Another factor in EVs becoming more mainstream is government support, with many governments throughout the world implementing policies and incentives like subsidies, tax breaks and harsher emissions regulations. The EV market will have some challenges to overcome to continue its booming growth: battery production costs, EV infrastructure limitations and consumer adoption.
One EV startup to watch in 2024 is Xeal, an EV driver app that sets out to make charging “as frictionless and reliable as possible.” Their software technology integrates across systems to effortlessly help buildings become 100% renewable and self-sufficient.
Circular waste management
Startups are innovating to either dispose of garbage more sustainably or upcycle it into useful materials to improve the product life cycle. These waste-to-energy solutions use processes like anaerobic digestion, pyrolysis, incineration, and gasification to convert waste into fuel.
One example of a cleantech startup in the waste-to-energy industry is InRim, an Australian startup, which uses Continuous Pyrolysis Technology to convert everyday garbage into biochar, diesel and/or electricity.
A rise in renewables
While 2023 saw an increase in renewable energy development and policies around it, 2024 will take the industry even further. Support is growing in rural areas for wind and solar energy technologies, being driven by climate change concerns, an uncertain economy and a push for energy independence. In fact, the global renewable energy market is projected to reach a staggering $1,977 billion by 2030.
One startup taking charge of climate concerns with innovative renewable energy solutions is EcoFlow. Founded in 2018, EcoFlow designs and manufactures portable power stations, solar panels, and accessories to help people access reliable and sustainable energy on-the-go. To demonstrate their astounding growth, EcoFlow is projected to grow 4900% in five years.
The cleantech boom
With factors like governmental policies, a worsening climate crisis affecting peoples’ daily lives, and technology breakthroughs, 2024 will likely prove to be an unprecedented year of growth in cleantech and climate tech markets.
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