Europe shines in Cleantech 100 list

January 17, 2020 //By Nick Flaherty
The Cleantech Group has released its list of the top 100 startups, with 29 companies from Europe and backing of $1.67bn
The Cleantech Group has released its list of the top 100 startups, with 29 companies from Europe and backing of $1.67bn

This compares to 63 companies from North America in teh Cleantech 100 with an investment of $4.91bn, 6 from Asia Pacific and just 2 from Africa, although some of the European companies in the list such as Bboxx in the UK provide technology for areas such as Africa that have no electricity grid.

Two thirds of the  $3.85 billion invested in 2019 went into the energy storage, energy  efficiency and solar sub-sectors where Europe is strongest, and Europe, Israel and  Central/South America were the  only regions to see an increase in amounts invested in 2019.

While global deal volume dropped by 5.5%, the average deal  size of late-stage rounds (series B  and above) increased from  $21 million to $31 million, a sign  that innovators in energy are  reaching large-scale commercialization  and seeking deployment capital.

The leading European companies include UK smart battery maker Moixa and perovskite solar cell pioneer Oxford PV, along with Skeleton Technologies with its graphene-based supercapacitor technology.

Depsys in Switzerland is developing hardware and software for microgrids while Azuri in the UK develops pay-as-you-go solar products for off-grid households. Envelio in Germany Develops a platform for grid operators to digitize energy planning and operation processes while Metron in France develops energy management services based on AI.

Next in Germany is an operator of virtual power plants connecting decentralized renewable energy producers  and large scale power consumers, and the list includes German smart thermostat developer tado with Ditch provider of smart storage and solar power solutions for remote energy access Zola Electric also in the list.

Interestingly no European companies show up in the list for materials, possibly because this is dominated by mainstream congolerates such as BASF and Wacker, but pioneers in the transport listing include electric aircraft designer Lilium and autonomous electric truck developer E/nride.

Europe is also more appealing to global investors for cleantech says the report.


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