By Ehsanul Hoq
Cleantech is a very recent term in the business world. Due to the rise in global warming, many businesses are trying to develop environment-friendly products. The goal of those companies is to earn profit by solving energy problems using modern technology. Very recently, we have seen the rise of Tesla as a motor vehicle company using sustainable and renewable energy solutions. Although Tesla has become very popular using Elon Musks stardom, other companies are also creating footsteps in different sectors like wind, solar, biomass, water purification, data, energy storage, and more.
However, there is a growing concern whether the cleantech companies are performing as desired in the new century. We have seen a number of high-profile companies failed during the dot com market crash. Using the new renewable energy technology cleantech companies were in a campaign to capture the product and services market. There was great optimism among the top cleantech executives as they started to fight against a new generation of internet-based companies. But the reality was that many cleantech companies collapsed after 2000 and making it more difficult for new cleantech companies to raise funds. Today we will talk about top global cleantech companies working on different industries to ensure a green environment.
Tesla CEO Elon Musk found the company and since it has received $2bn in funding. SolarCity is a battery company dominating the solar markets in a short period of time thanks to the bold leadership of Elon. The solar panels are durable, simple in design, and use modern technology for greater user experiences.
Cleantech is a UK based bottle reprocessing plant. The manufacturing is done using consumer waste. The Cleantech plant has been recognized for handling large amounts of plastic packaging approximately 100,000 tonnes of PET bottles. The use of bottles are recyclable and can be used further for packing food or other products. Thanks to the efforts of Cleantech it saves 2,154 tonnes of carbon every year.
Goldwind is one of the leading cleantech business in China. It is also promoting the wind turbine energy across six continents. The goal is to provide lower-cost and highly efficient energy. The company has more than 8,000 employees and installed wind capacity of 50GW. The exploration of water resources and hydropower research lead to the creation of Goldwind during the period of 1982-1996. The company uses big data analysis technology to allow dynamic monitoring of energy sources. The solutions they provide are water storage, precision aeration, motor energy savings, and air compressor waste heat recovery.
With a mission to transform agriculture, AeroFarm is working its way through on a global scale for the betterment of humanity. It is considered as Worlds’s most innovative company by Fast Company. The technology they use to grow crop is vertical indoor farming. Their Aeroponic system gives faster growth cycles to the crops with less environmental impact. They have a bright team with expertise in science, engineering, and food safety technology which can take farming technology to the next level. AeroFarms carefully check the health and quality of the plants constantly to optimize the color, texture, and nutrition of the product which they consider much important for a clean environment.
Tesla is a gem in the falling industry of cleantech. According to data compiled by FactSet Elon musk’s renewable energy and automotive, the company will make $6.42 billion in the third quarter of 2019. Tesla started its journey in Palo Alto in July 2003 under the name Tesla motors. The company targets affluent car owners with a goal to move into larger markets with lower prices. The earlier sales proceed to the rich owners will pave the way for research on battery and electric technology for the cars and make them affordable. Tesla uses the strategy to sell vehicles online or company-owned showrooms rather than traditional networks.
Unfortunately, the expectations of the venture capital firms and other investors are not met as the cleantech companies have failed to yield great returns. Although it was not considered as riskier at first now investors had the realization that the cleantech industry offers lower returns with higher risks than other sectors. After 2007, we have seen the percentage of A-round investment failed to get substantial capital to investors is 90%. Some researchers indicated that the poor performance of the investment in deep technology created the performance problem in the sector. It is clear that only government support can change the current situation in the cleantech industry. It can help to the commercialization of the research process through networks and incubators.
Ehsanul Hoq is a research associate and freelance content writer/Blogger