Six New Zealand cleantech companies, along with a venture capital firm and the MacDiarmid Institute, travelled to Singapore last week as part of the Cleantech Trek to participate in the Liveability Challenge and Cleantech Forum Asia.
The group included OpenStar Technologies, TasmanIon, Nilo, Cetogenix, Mushroom Material, Allegro Energy (now based in Australia) and BridgeWest Ventures.
The visit focused on meeting investors and multinational partners to explore opportunities for collaboration and investment in cleantech innovations.
MacDiarmid Institute Deputy Director of Commercialisation and Industry Engagement, Natalie Plank, said the chance for these companies to engage with Singapore’s broader cleantech ecosystem, pursue investment, and collaborate with multinational partners is especially timely.
“The world needs climate mitigation technologies like never before. Singapore offers a chance to connect with investors and global players who can help scale New Zealand cleantech into international supply chains and energy infrastructure.”
The World Economic Forum characterises cleantech industries as “the enablers of our future decarbonised energy system” and acknowledges them as “a major economic force”.
In 2023, global investment in the cleantech sector surpassed US$40 billion, while the International Energy Agency forecasts that annual spending on clean energy will increase from US$1.8 trillion in 2023 to US$4.5 trillion by the early 2030s under its ‘net zero pathway’ scenario.
Michelle Polglase, GM of Project Delivery at Ara Ake, one of the Cleantech Trek’s foundational sponsors, anticipates a growing presence of New Zealand clean energy companies on the global stage.
“To get there, they need commercialisation support, growth capital and strong global connections,” Polglase said.