The Global Greentech market is witnessing some prominent trends in areas like green building, water leak detection, carbon footprint management, soil condition/moisture monitoring, forest monitoring, air and water pollution monitoring, water purification, fire detection, crop monitoring, weather monitoring and forecasting and sustainable mining and exploration. This is facilitated using technologies – digital twin, internet of things (IoT), cloud computing, artificial intelligence (AI) and analytics, blockchain and security. The Green Technology and Sustainability Market was valued at USD 6.89 Billion in 2018 and it is expected to reach USD 36.31 Billion by 2025 with a CAGR (Compound annual growth rate) of 26.8%.
What is GreenTech?
Green technology devices innovative ways to bring environment-friendly changes in life by reducing the amount of waste & pollution. It helps to reduce the usage of fossil fuels and find alternative sources of technology, reducing the damage to humans, animals and plants.
Greentech in Europe
With increasing awareness and more funds being available, people are showing interest in the field of Greentech. The EU has dedicated €240 billion of its €750 billion Next Generation EU recovery fund to green projects, while Germany and France have set aside €50 billion and €30 billion respectively.
The European Green Deal is the latest and the most notable program in Europe, which is a growth strategy to transform the European Union with a resource-efficient and competitive economy, with zero net emissions of greenhouse gases by 2050. It brings numerous opportunities for startups and companies who are considering to enter or are in the Greentech or Cleantech field. South Korea and the U.K. are few among other countries that have included green initiatives in their fiscal packages.
In order to reach the net-zero target, companies and startups will have to step up with new green technologies. Even investors are showing interest in such companies as they can benefit from the environment and climate-focused economic recovery packages. They are seeing a growing opportunity in companies addressing environmental, social and governance topics including climate change.
Some of the major trends in the Greentech field are:
1. Renewable energy from solar and wind
The main source of rising CO2 emissions is the production of electricity by burning coal. Decarbonizing the production of electricity is a great way to reduce these emissions. To reduce greenhouse gas emissions by at least 60% by 2030, the EU is looking to increase the share of renewables, and solar and wind energy is the most effective way to do that. With the solar photovoltaic costs falling below the forward wholesale power prices, many startups are investing in solar energy like:
Brite Solar: Brite Solar produces solar-energy-generating glass that allows around 80% of light to pass, making it suitable for usage in places like greenhouses, homes and office buildings, while also producing green energy.
Founded in: 2009
Location: Greece
Zolar: ZOLAR is an online provider of solar systems enabling the entry into the private energy supply for private households. It was co-founded by Alex Melzer and Gregor Loukidis.
Founded in: 2016
Location: Berlin, Germany
Funding: €29M
2. Production of green hydrogen
The EU has announced its hydrogen plan, targeting 40GW of renewable hydrogen capacity by 2030, which has caused investors to pay attention to this area. Hydrogen is a key potential player in future de-carbonization. Around 95% of today’s hydrogen production comes from fossil fuels and less than 1% from renewables, also called green hydrogen. There are only 70 Hydrogen Production companies globally. Some of them are:
ITM Power: ITM Power designs and manufactures Hydrogen Energy Systems for energy storage and clean fuel production. Its electrolyzer and hydrogen systems convert renewable energy to clean fuel, which can be stored for use in transport, residential and industrial applications indefinitely.
Founded in: 2001
Location: Sheffield (UK)
Funding: US$ 17M
Ergosup: The company has developed an electrochemical system for hydrogen generation which produces hydrogen by zinc electrolysis technology at high pressure. It can be used for refueling e-vehicles, drones, and industrial applications.
Founded in: 2012
Location: Malataverne (France)
Funding: US$ 18M
Enapter: Enapter produces electrolyzer-based grid energy storage systems in which solar energy is used to produce hydrogen from electrolyzers. It also provides a mobile app for energy monitoring and management.
Founded in: 2017
Location: Berlin (Germany), Crespina (Italy)
3. Electrification of vehicles
The transition to electric vehicles (EVs) has been seeing a rapid momentum. In the top five Western European markets, EVs accounted for 10% of new car sales. Battery electric vehicles (BEVs) are increasing and will increase even more at the expense of plug-in hybrids. Electric cars are about to go mainstream in Europe, and 2020/21 is likely to be a tipping point for the market.
Chargetrip: Chargetrip is a B2B Smart Navigation SaaS platform providing intelligent predictive routing for electric mobility. It makes electric driving and charging effortless for individual drivers and fleets.
Founded in: 2017
Location: Amsterdam, Netherlands
Ginger: Ginger is an electric micro-mobility startup which has a fixed location model, uses docks or location technology to provide all environmental and customer benefits of electric scooters, ensuring that streets remain free of the chaos of abandoned scooters.
Location: London (UK)
Funding: US$ 671K
25Ways: 25Ways is an independent mobility platform that encourages behavior change towards sustainable mobility.
Founded in: 2014
Location: Hamburg, Germany
4. Going Digital
Digitalization enables managing large amounts of data and optimizing increasingly complex systems. The power sector is becoming increasingly decentralized and the “digitalization” of energy and water services is one of the most promising and cost-effective solutions to come out of the information and communications technology sector. The benefits of digitalization will be seen by the generation and transmission sectors the most, via improved power plant and network operational efficiency. It will help to reduce unplanned outages, preventative maintenance and extend the operational lifetime of assets.
DEPsys: DEPsys’s GridEye solution is paving the way towards a future of smart grids and microgrids. Its versatile control platform allows power grid operators to run distribution grids safely, reliably and optimally, thus making it possible to feed large quantities of renewable energies into their grids from decentralized sources.
Founded in: 2012
Location: Switzerland
Funding: US$ 18.5M
Ducky: Norwegian startup Ducky is tackling climate change with innovative tools to measure, educate, and mobilize people to take action on carbon sustainability. Its platform offers a range of products based on climate and environmental research data. It allows people to monitor their personal footprint in their climate calculator. They can also learn about climate psychology and reduce carbon emissions through friendly team competitions.
Founded in: 2014
Location: Trondheim
Funding: US$ 441K
Europe is definitely the torchbearer of green and clean technology. It has a technological advantage in green technologies and is preserving that for a better future.
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