Photo source: Flickr
Fourteen innovative Kiwi cleantech startups are preparing to pursue global investment and partnership prospects as part of the 2024 Cleantech Trek, which will take them to the USA and Europe.
The 2024 Cleantech Trek is an initiative from the New Zealand Cleantech Mission that aims to help these startups tap into the lucrative global cleantech market.
The global cleantech market is projected to exceed NZD$1 trillion annually by 2030, driven by investments in clean energy technologies such as solar and wind, alongside a rising consumer demand for sustainably produced materials.
Participating companies will engage in key industry events where they will pitch to investors, connect with multinational corporations, and establish valuable relationships as they aim to enter this expanding market.
A significant aspect of the journey will include a visit to ArcelorMittal’s flagship carbon capture and utilisation facility in Ghent, Belgium. This facility operates on a commercial scale and employs Lanzatech’s carbon capture technology to transform carbon-rich waste gases from steel production into advanced ethanol.
Lanzatech, which is publicly traded on Nasdaq, originated as a cleantech startup in Auckland.
“As Lanzatech has shown, we have the world-class science and engineering expertise, and vision, to develop cleantech solutions that can make a global impact,” stated Phil Anderson, lead of the New Zealand Cleantech Mission at Callaghan Innovation.
Given that cleantech solutions tackle some of the most challenging environmental and sustainability issues, their commercialisation often demands more capital, robust networks, and a longer timeline to market compared to other sectors.
“To succeed, Kiwi cleantech startups need to build long-term relationships with multi-nationals and investors to develop and commercialise their solutions on a global scale,” said Anderson.
The trek will commence in the USA in late October before moving on to Europe. During this segment, three startups will be honoured on the Cleantech Group’s 2024 50 to Watch list at the 2024 Cleantech Forum Europe in Paris in early November.
Cetogenix, Mushroom Material, and Nilo will be recognised among the top cleantech ventures globally that are in the early stages of commercialising solutions to address environmental challenges and climate change.
“Having three Kiwi cleantech startups on this influential list shows that the world is beginning to see just how much potential Kiwi cleantech startups have to offer,” Anderson added.
“This country is such a small player it’s really important that we work together when it comes to getting in front of potential investors and partners overseas.”