Cleantech Group identifies innovators that are pushing the boundaries of technology, business models, and market adoption to drive significant change
SAN FRANCISCO, CA — October 16, 2024 – Cleantech Group, a leading global authority in global cleantech innovation, is proud to announce the release of its prestigious 2024 Cleantech 50 to Watch. The annual list highlights 50 early-stage companies from across the globe that are creating groundbreaking solutions to address some of the world’s most pressing environmental and sustainability challenges.
A Platform for Emerging Leaders
In its sixth year, the Cleantech 50 to Watch list continues to spotlight innovators that are leading the charge in the fight against climate change, resource depletion, and environmental degradation.
“In a continuation from last year’s trend, the spread of companies receiving investment continues to get “younger”, i.e., early-stage deals are a larger percentage of the overall activity,” said Anthony DeOrsey, Research Manager at Cleantech Group and Executive Editor of the list.
“We can start to see new layers of climate priorities crystallizing in the themes that innovators are targeting — look closely at the themes of grid resilience, textiles, plastics, and ammonia for some early indications.”
Key Sectors & Trends
The 2024 list reflects several key sectors and trends that are currently at the forefront of cleantech innovation with sample companies who made the Cleantech 50 to Watch:
Agriculture & Food: 3 companies in 3 countries
Energy & Power: 13 companies in 10 countries
Materials & Chemicals: 19 companies in 8 countries
Resources & Environmental Management: 4 companies in 4 countries
Transportation & Logistics: 2 companies in 2 countries
Waste & Recycling: 9 companies in 6 countries
Trend: Grid Resilience Urgency Well Reflected in Innovation
- Rhizome — Grid planning and monitoring platform that models resilience threats up to 50 years in the future
- ThinkLabs — Physics-based digital twins for critical renewable energy and grid infrastructure
Trend: Textiles & Plastics Show a New Innovation Cycle Beginning
- Refiberd — Leveraging AI and hyperspectral imaging for textile sorting
- Mushroom Material — Upgrading mycelium agricultural waste into a biodegradable Styrofoam replacement
Trend: Low-carbon Ammonia Innovation Tackling Emissions from Fertilizer, Potentially Shipping Fuels
These Cleantech 50 to Watch companies all present different approaches to ammonia production from air, water, and electricity. These approaches, if successful, can support distributed ammonia production at the point-of-use, reducing emissions from ammonia production and transport.
Trend: Ecosystems Turn Out Several Key Innovators
- Third Derivative: NXLite, Calwave, Capture6
- Breakthrough Energy Fellows: Nitrovolt, Rift, Macrocycle, HyperHeat
- Carbon to Value Initiative: Capture6, Terrafixing
- XPrize: Airhive, Biosorra
- Zero Carbon Capital: Deep tech climate investor, who saw Cambridge Electric Cement, BioZeroc, and NitroFix make the list.
A Rigorous Selection Process
The companies featured on the Cleantech 50 to Watch list were selected through a rigorous process that involved nominations from a global expert panel of investors, industry experts, and cleantech professionals, as well as in-depth analysis by Cleantech Group’s research team. The final selection was based on a range of criteria, including the potential impact of the company’s technology, the strength of its business model, the quality of its leadership team, and the scalability of its solution.
Global Representation
The Cleantech 50 to Watch list features companies from a broad geographic spectrum, with start-ups from 18 countries in North America, Europe, Asia-Pacific, and Africa. This reflects the global nature of cleantech innovation, with solutions emerging from both developed and emerging markets.
About Cleantech Group
Cleantech® Group is a research-driven company that helps corporates, public sector, investors and others, identify, assess, and engage with the innovative solutions and opportunities that are related to the world’s massive, and growing, environmental and climate challenges. Our insights and expertise are delivered to clients all over the world through our Research, Consulting, and Events. We have been the leading authority on global cleantech innovation since 2002.