New Zealand Cleantech Startups Making Global Waves
New Zealand’s cleantech sector is on a major investment push, with 14 innovative companies like Nilo, Cetogenix and Mushroom Material gaining international attention. These firms, among the top 50 cleantech companies to watch in 2024, embarked on a “Cleantech Trek” across the U.S. and Europe to secure funding and partnerships. This initiative is part of New Zealand’s broader strategy to position itself as a global leader in climate and environmental innovation.
"I've never seen pitches from one country that tight with so much quality and confidence“ – Australian start up founder.
The sector's innovative approaches, such as waste-to-value solutions, align well with global sustainability goals, reinforcing New Zealand as a promising hub for cleantech growth and investment.
The Cleantech Trek is an annual event, powered by Callaghan Innovation and supported by Invest New Zealand, ASB Bank, Tataki Auckland Unlimited, NZTE, Ara Ake, and the NZ Cleantech Mission.
The collective efforts of these organizations highlight New Zealand’s commitment to fostering innovation and sustainability on a global scale.
Aotearoa New Zealand has world-class science and engineering expertise, and vision, to develop and commercialise cleantech solutions that make a global impact by addressing the world’s most significant environmental and sustainability challenges.
Deep-tech commercialisation requires more capital, stronger networks, and a longer path to market than is the case in most other sectors in order to solve environmental and sustainability challenges.
To succeed, Kiwi cleantech startups need to build long-term relationships with multi-nationals and investors to develop and commercialise their solutions on a global scale.
“It’s important to establish in-market presence early and build relationships ahead of time to keep potential investors informed of progress, so you’re working from a warm base when capital raising” said NZTE Investment Manager Laura Reitel.
American Leg of the Cleantech Trek (28 Oct - 01 Nov): The journey began in San Francisco and San Jose, where the startups attended the Verge Conference. This event provided a platform for the delegation to meet engage with potential customers, hear about market trends and engage with investors. The Verge Conference, in partnership with Climate Salad Australia, offered extensive networking opportunities with over 5,000 climate tech supporters. The delegation also had the chance to visit Stanford and Silicon Valley Bank, further expanding their connections in the U.S. cleantech market.
“When you compete head-to-head with US founders, you can’t be humble. Investors expect you to have a big vision, huge market opportunity and a killer team. The feedback we heard was that kiwi founders need to be bolder and more confident.” Says Laura Reitel, Investment Manager at Invest New Zealand.
European Leg of the Cleantech Trek (04-08 Nov): Following their successful engagements in the U.S., the delegation travelled to Europe, visiting London, Ghent in Belgium, and Chantilly in France. In London, they met with key stakeholders and potential partners at the New Zealand High Commission, discussing opportunities for collaboration and investment. The visit to France was highlighted by their participation in the 2024 Cleantech Forum Europe in Chantilly, where three New Zealand startups — Cetogenix, Mushroom Material, and Nilo — were recognized on the Cleantech Group’s 2024 50 to Watch list. This prestigious list highlights the top cleantech ventures globally in the early stages of commercializing solutions to environmental problems and climate change.
“The sizable economic opportunities associated with clean technology supply chains are a top priority for the EU Commission. This means ample opportunities for non-dilutive funding for those kiwi cleantech companies that are wanting to scale their manufacturing and operations to Europe.” said NZTE Investment Manager Laura Reitel.
Featured Startups:
Cetogenix: Led by Trevor Stuthridge, Cetogenix transforms organic waste into renewable natural gas, bioplastics, and biofertilizers. Their Ceto-Boost™ product enhances RNG production and reduces operating costs.
Solarferm: Represented by Gabriel James, Solarferm has patented bioreactor technology that lowers the cost and carbon footprint of sugar production, optimizing feedstocks for precision fermentation.
Basis: Led by Alex Cappy, Basis revolutionizes residential energy management with a smart electrical panel that integrates with renewable energy sources, reducing carbon footprints.
Geo40: Represented by John Worth, Geo40 develops technologies for mineral recovery from underground fluids, focusing on lithium extraction and silica recovery.
Zincovery: Led by Jonathan Ring and Leatham Landon-Lane, Zincovery decarbonizes zinc recycling with a process that cuts carbon emissions by 95% and reduces processing costs by 45%.
Nilo: Represented by Tim Williams and Michael Maunsell, Nilo addresses the global plastic waste crisis by transforming plastic waste into industrial adhesives through a patented, clean, and energy-efficient process.
TasmanIon: Led by Shalini Divya, TasmanIon innovates in energy storage with rechargeable aluminum-ion batteries, offering a safer and more sustainable alternative for stationary storage and micromobility sectors.
Prospero: Represented by Jessica Venning-Bryan, Prospero provides a calculation platform for energy sellers, streamlining complex energy calculations and accelerating the energy transition.
Mushroom Material: Led by Shaun Seaman and Jotinder Singh, Mushroom Material offers a sustainable alternative to styrofoam derived from mushrooms, suitable for packaging with excellent impact resistance and insulation properties.
Mint Innovation: Represented by Will Barker, Mint Innovation recovers critical and precious minerals from e-waste and waste li-ion batteries using low-carbon, scalable hydro-metallurgical and bio-metallurgical processes.
Hot Lime Labs: Led by Tijs Robinson, Hot Lime Labs extracts heat and CO2 from green and wood waste, providing a profitable decarbonization pathway for commercial greenhouses.
UsedFULLY: Represented by Bernadette Casey and Deborah Crowe, UsedFULLY solves the textile waste crisis by converting unwanted textiles into high-value products for various industries.
Azura Wave Power: Led by Armin Howard, Azura Wave Power commercializes Wave Energy Converter technology for micro-grid projects in aquaculture and remote communities.
Waste to Energy Technologies: Represented by Alistair Irving, Waste to Energy Technologies converts organic waste into sustainable energy sources using the patented EnviroFusion process, with no toxic emissions.
Did you know?:
Cleantech presents New Zealand with a significant economic opportunity. Globally, early-stage venture funding for Cleantech is growing five times faster than the average investment in other sectors, according to a PwC report.
Independent research has shown Aotearoa New Zealand’s cleantech innovators are raising 95% less capital than their peers in other small-advanced economies.
The Aotearoa New Zealand cleantech sector is made up of over 130 companies and has attracted at least $535 million in private investment to date.
Over the last two financial years the sector has generated a total of $291 million revenue, $112 million in R&D expenditure, $87 million expenditure on capital items, and employs over 1190 people (896 FTE locally and 293 offshore).
The sector is poised for rapid growth both in the intended ambitious capital raises indicated by companies for the year to March 2025 of $440 million as well as the revenue growth rate between 2023 and 2024 years being 29%.
Contact us:
If you are wanting to know more about investment opportunities with New Zealand companies, please let us know here.
Invest New Zealand is managed by New Zealand Trade and Enterprise (NZTE), the New Zealand Government's international economic development agency. We are focused on building a vibrant investment market that is dedicated to supporting and growing a productive, sustainable and inclusive economy.
Our global team use their networks, commercial expertise and deep knowledge of New Zealand to bring investment and opportunity together.
We're independent, impartial, and focussed on value-add investment that's good for investors, businesses and New Zealand. Te haumi, te tipu tahi rānei me mātau. Invest and grow with us.
Laura Reitel - Investment Manager
If you want to learn more you can connect with Laura Reitel, Investment Manager. Laura specialises in raising capital for early-stage startups and is based in the NZTE Wellington office. She is passionate about working with companies to realise and reach their full potential.
Prior to joining NZTE Laura was at Callaghan Innovation where she headed up the accelerator and incubator programme. Before that she was Head of Acceleration at Creative HQ, and ran the successful accelerator programme Techstars in Boulder, CO (its flagship location).
Laura has studied law, political science, international relations, diplomacy and has previously held positions as an HR manager and a lawyer.
More from Invest New Zealand
New Zealand sectors of strength
New Zealand's diverse, modern economy features a wide range of business sectors – many with strengths and advantages found nowhere else in the world. Explore some of New Zealand's top sectors below, including key opportunities for forward-looking investors and entrepreneurs.
Invest in a New Zealand Business
NZTE's Investment team connects local businesses with the capital needed to fund their growth. We work with companies across different sectors and regions, to create productive, sustainable and inclusive deals that deliver opportunities for investors and for New Zealand – so the decision to invest is one you'll be proud of.
Investor Migrants
New Zealand welcomes experienced, high-value investors to help build globally successful Kiwi businesses. You can settle, or spend considerable time here, enjoying all our beautiful country has to offer. It's all part of our commitment to welcoming overseas investors who contribute to our sustainable prosperity and growth.
