Cleantech Startups Reshaping How We Do Things
Clean technology has undergone dramatic seismic changes in the past few years. Today, startups are challenging current practices with the aim of reducing our environmental impact. Significant investments have gone into producing clean energy amid climate change concerns, encouraging Australian startups and businesses to consider their triple bottom line.
What is Cleantech?
Clean technology or ‘cleantech’ is any system, product, or service that reduces negative environmental impacts through the reduction or elimination of waste and emissions. Ameliorative technology prompts the usage of sustainable resources and energy efficient technology, and has garnered the attention of venture capitalists and investors. The popularity of cleantech has generated a wealth of ‘green’ startups in industries such as solar, water, wind, biofuels and purification.
Many emerging cleantech technologies are the product of a ‘problem’ or ‘gap in the market’. Power Ledger for example, uses blockchain to facilitate energy and environmental commodity trading in response to the problems within electrical generation. Solar startups are on the rise with founders finding new ways to diversity their offering. Australian startup Redback Technologies, for example, offers a “…sophisticated and incredibly efficient” solar power system to streamline the process.
Argitech is another growing field in the cleantech sector with recent shakeups to the supply chain which increase digitalisation and transparency. This has generated substantial hype and subsequent investment from venture capitalists and governments looking for ‘sensible’ investment opportunities that are not only profitable but socially and environmentally sustainable. Other notable trends include hydrogen, advanced manufacturing, and the development of new materials.
Australian Cleantech Startups
Cleantech investors are anticipating the growth of the green technology sector with the industry expected to provide long-term investment, economic and employment potential. The Australian startup scene is particularly abundant with founders developing novel solutions in a variety of sectors to tackle climate change. Electric vehicles have attracted not only a wealth of media attention but excitement in the startup arena. Everty has gaining traction recently with their B2B offering, which provides installation and operating service for electric car charging stations.
Brighte is another cleantech startup making waves in the Australian startup scene. The startup is a digital credit platform for financing home energy improvements. Brighte has received significant recognition since their launch, including a number of FinTECH awards.
Globally, Australia’s startups’ are making waves with their innovative solutions to combat climate change. The importance of cleantech is spreading in the business sector with the focus shifting from operating profit to sustainability.
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