Exploring the Evolving Landscape of Cleantech Innovation in 2024
Key Ideas
  • Deep tech innovation in cleantech is gaining momentum, with a focus on solving harder problems and reinventing technologies.
  • Venture investments in cleantech are increasing, particularly in deep tech companies, indicating reduced perception of risk and softer financial profiles.
  • Innovations in hydrogen technology, grid resilience, textiles sustainability, and plastic recycling are among the key areas highlighted in this year's Cleantech 50 to Watch list.
The sixth edition of the Cleantech 50 to Watch explores the evolving landscape of cleantech innovation in 2024. The article highlights a shift towards deep tech innovation, indicating a move towards solving more complex challenges in the cleantech sector. Venture investments in cleantech, especially in deep tech companies, are on the rise, showing a reduced perception of risk and softer financial profiles. An emphasis is placed on the importance of technology readiness levels in venture funding recipients. The article also discusses how recent policy environments are driving innovation in areas like hydrogen technology, grid resilience, textiles sustainability, and plastic recycling. In the realm of hydrogen technology, the focus is shifting towards alternative approaches such as hydrogen carriers for conventional infrastructure and low or no-hydrogen ammonia production. Companies like Ayrton Energy, Rift, NitroFix, Swan-H, and Nitrovolt are highlighted for their innovative solutions in this space. The article also stresses the urgency of grid resilience with the increasing integration of renewables and the growth in power demand. Innovations in power resilience, such as Rhizome, ThinkLabs, Grid Raven, and Ionate, are showcased for their contributions to enhancing grid infrastructure. Moreover, the article delves into the rising challenges in textiles sustainability and plastic recycling. Innovators are responding to the call for more sustainable practices, with companies like Refiberd and Simplifyber focusing on textile recycling and sustainable production processes. The article also addresses the need for improved plastics sortation and recycling methods to combat the increasing rates of virgin plastic production and plastic-related emissions. Overall, the Cleantech 50 to Watch presents a comprehensive view of the diverse approaches and innovations in cleantech, highlighting the positive momentum towards addressing complex environmental challenges and driving sustainability in various sectors.
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