Cleantech Group Names the 2024 APAC Cleantech 25

Cleantech Venture Investment in the Asia-Pacific Region Has Grown by >100% since 2020. In 2023, it was the Only Region in the World to Grow

San Francisco, CA – 18 April 2024:  Cleantech Group has just released the APAC Cleantech 25, an annual list of Asia-Pacific (APAC) private sustainable innovation companies that are poised to make a significant impact in the next five to ten years.

To create the list, inputs are collected from the APAC Cleantech 25 expert panel, who are active in technology and innovation scouting and are regularly connecting with innovators in the region.  These are combined with additional APAC-relevant inputs from the Global Cleantech 100 process, which benefits from thousands of data points from our tracking of investments, partnerships, and third-party awards.  Companies with the strongest patterns of validation across all points receive the highest scores.

The APAC Cleantech 25 program has been running since 2018. It was supported again this year by ADB Ventures.

A few highlights of the 2024 analysis include:

No 2023 Drop-off for APAC.  While the rest of the world experienced a drop in venture investment in 2023, APAC did not.  China remains the dominant source of APAC cleantech innovation, but promising solutions are emerging from all over the region – there’s a noticeable shift to globally-relevant, exportable component technologies.  2024 APAC Cleantech 25 examples:

China Charging Ahead in Energy.  While most of APAC managed to hold steady in 2023, China raced ahead with explosive growth in Energy & Power.  China’s shifted emphasis to the “New 3” industries of solar power, electric vehicles, and batteries is having a clear impact on the direction of regional cleantech innovation.

APAC Led the Way in 2023 Energy & Power, Thanks to a Jump in Solar Innovation.  APAC’s strength in energy components and materials is evident in this year’s APAC Cleantech 25, and with widening geographic sources of innovation:

  • Sicona Battery Technologies (AUS) – Silicon-carbide anodes for lithium-ion batteries
  • SunGreenH2 (SG) – Catalyst-coated electrodes for hydrogen electrolyzers
  • Newtrace (IN) – Abundant electrocatalysts for hydrogen electrolyzers

APAC’s Innovation Companies are Trending Younger.  Seed and Series A round investments keep expanding in APAC and with no drop-off at later rounds.  More APAC cleantech innovators are launching than before, growing faster than ever, and increasingly aiming for high-quality markets. The world should take note.

This highly anticipated annual report features 25 stellar companies combined with an analysis of the innovation and investment trends in the region.  To download the APAC Cleantech 25 complimentary report, click here.

The APAC Cleantech 25 companies are located in eight countries, and are delivering sustainable solutions in these six industry groups:

  • Agriculture & Food
  • Energy & Power
  • Materials & Chemicals
  • Resources & Environmental Management
  • Transportation & Logistics
  • Waste & Recycling

“A true innovation ecosystem is emerging and growing in Southeast Asia around the cleantech theme,” said Richard Youngman, CEO, Cleantech Group.  “The presence of these 25 companies and the growing momentum in the Asia-Pacific region affirm my belief that it will not be the supply of innovation that limits our ability to address the escalating climate crisis.”

The APAC Cleantech 25 companies will be honored at the upcoming Cleantech Forum Asia on May 7-8 in Singapore.  Participants will have the opportunity to connect with many of the companies on the list, along with many other rising stars.

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.​

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