8 Cleantech Companies to Watch from the Asia-Pacific Region
Cleantech Group’s new quarterly ‘Companies to Watch’ feature will shine a light on innovation in the Asia-Pacific (APAC) region for our international audiences. In this debut edition, guest contributors highlight eight companies to watch – from Australia, China, India, Japan, and Singapore.
The guest contributors were reacting to the open question:
“What cleantech company (or companies) from your country/region would you highlight to our international audiences at this time, and why?”
In addition to the 8 companies below, we also wish to draw your attention to the recently-released 2024 Climate Solutions Casebook, published by the Singapore Venture Capital Association (SVCA), a report where Cleantech Group partnered. It includes 8 case studies of companies invested in by members of the SVCA.
“As climate challenges continue to demand urgent action, Indonesia is stepping up its efforts in climate transition. East Ventures and Temasek Foundation have come together to launch the second edition of the Climate Impact Innovations Challenge (CIIC), the country’s largest climate tech competition, whose objective is to find and scale groundbreaking climate solutions capable of reshaping industries and accelerating Indonesia’s green transition.
The competition recently awarded a total of Rp10 billion (approximately $700,000 USD) in grant funding to three winners:
- SunGreenH2: Offering 200% hydrogen production with a 20% higher energy-efficient electrolyzer with landed cost of hydrogen at $3/kg.
- Hydrogen Refinery: Low-cost production of ammonia-based fertilizers via plasma electrolysis of waste to reduce up to 11 tons of GHG emissions per ton of fertilizer.
- AC Biode: Scalable chemolysis of mixed organic waste to produce syngas for green energy generation.
The program has connected the innovators to implementation partners in Indonesia, including the state-owned electricity company, PLN, and Sinarmas Agribusiness & Food.”
PhaBuilder was on Cleantech Group’s 2023 APAC Cleantech 25 list. Eric Wang, based in Beijing, provides an update.
“Based in China, PhaBuilder is at the forefront of cleantech innovation with its next generation industrial biotechnology platform, designed to significantly enhance the efficiency and cost-competitiveness of Polyhydroxyalkanoates (PHA) synthesis.
PHA’s, sustainable alternatives to traditional plastics, have a wide range of high-growth applications, including packaging and 3D printing materials.
PhaBuilder has already secured numerous certifications for biodegradability, compostability, and food-contact safety, and recently earned TÜV SÜD certification for the low-carbon footprint of its PHA production process.
By the end of 2024, the company will have completed the construction of a new state-of-the-art PHA production facility, set to be the largest in China and the third largest globally, with an annual capacity of 30,000 tons.
Positioned to serve a growing market, PhaBuilder has multiple strategic deals in the pipeline, including partnerships with leading international brands. As a pioneer in cleantech and synthetic biology, PhaBuilder is poised to deliver significant impact, driving the global transition to sustainable materials while offering strong growth potential for investors.”
“Given that 80% of India’s required infrastructure in 2050 is yet to be built according to McKinsey, and we are one of the fastest growing economies with new industrial facilities mushrooming across the country, India needs to be mindful of locking us in to high-carbon emissions in the 10-20 year lifespan of assets we are building today. In this space, India has some great start-ups. Here are three to watch:
- Promethean Energy: Enhancing the efficiency of manufacturing through their innovative low-grade waste heat recovery solution.
- Terracarb: Working towards democratizing graphene to decarbonize industry by radically lowering the cost.
- Thermistance: Redefining energy use in cooling systems, focusing on eliminating the need for traditional energy-intensive cooling processes altogether.”
“I recently highlighted the recent moves by the Indian government to advance air mobility in India, including an advisory circular from the DGGA (Directorate General of Civil Aviation), outlining the baseline airworthiness criteria for the type certification of Vertical Take-Off and Landing (VTOL)-capable aircraft.
Sarla Aviation is set to be one of the companies to benefit.
The company recently announced a partnership with Bangalore International Airport Ltd (BIAL) to make Bengaluru the first eVTOL-friendly airport in India, aiming to cut travel time from the airport to the city centre from 1.5 hours to just 5 minutes. Additionally, Sarla Aviation and Hunch Mobility have teamed up to jointly develop eVTOL infrastructure and route identification, marking Sarla’s first domestic collaboration to advance India’s Advanced Air Mobility (AAM) ecosystem.”
Green Gravity was on Cleantech Group’s recently released 2024 Cleantech 50 to Watch, a list of 50 early-stage companies of high promise. Coincidentally, Ashwath, based out of New Zealand, had just called this company out as one to watch in the region.
“Green Gravity is an energy storage company (gravity-based) that focuses on mine shaft remediation. I think international audiences would be interested to know this company and its solution, given the economic and environmental impacts of old mine shafts in countries like Australia, India, Romania, South Africa, and the U.S., to name a few.
Green Gravity offers the ability to utilize these old assets and give them a new lease on life as a storage asset. I also think this company is interesting as it:
- Makes a strong case for economic gravity-based storage
- Supports discussions on how economies can think about repurposing of “redundant infrastructure.”
If any of these companies are of interest to you and you need help connecting, please contact us at news@cleantech.com, outlining why you’d like to make contact.
If you are located in the Asia-Pacific region and would be interested in becoming a guest contributor to a future quarterly APAC Companies to Watch, please be in touch via news@cleantech.com.
