The emergence of climate change issues created a breeding for the development of new technologies to help decarbonise various operations globally. We go through phases, focusing on renewable energy, then electrification of vehicles, and there will likely be further trends. Climate technology is the umbrella of a combined group of sustainable solutions, and these 10 businesses are some of the leaders in their fields.
10. NuScale Power
Revenue (Circa): US$11.8m
NuScale Power Corporation is a pioneer in the field of nuclear energy, specialising in the development and commercialisation of small modular reactors (SMRs). The Portland-based company stands out as the first to have its SMR design certified by the US Nuclear Regulatory Commission (NRC). The organisation’s innovative NuScale Power Module can be configured in 4, 6, and 12-module VOYGR power plants, offering a scalable solution to meet various energy needs.
9. H2 Green Steel
Revenue: US$44.25m
Founded in 2020, H2 Green Steel is on a mission to decarbonise the steel industry through innovative production processes that operate on green hydrogen and electricity from renewable sources.
With the construction of what may become the world's first commercial-scale clean steel factory in Boden, Sweden, H2 Green Steel aims to produce 2.5 million metric tons of steel annually by 2026. Operations are expected to commence towards the end of 2025, featuring an integrated, digitalised, and circular plant design.
8. Sublime Systems
Revenue: US$45.86m
Sublime systems has a unique approach to climate change as it targets the cement industry for decarbonisation. The industry is responsible for 8% of global greenhouse gas (GHG) emissions and production typically requires high-temperature kilns that burn fossil fuels.
The climate tech startup was co-founded by an MIT Professor Yet-Ming Chiang and Dr Leah Ellis. The technology is expected to reduce production emissions by 50% without altering cement’s properties or impacting the functionality of the product.
7. Climeworks AG
Revenue (Circa): US$51.3m
Direct air capture (DAC) is one of Climeworks’ many zero-emission endeavours. Alongside this, the company is continuously developing new ways of removing carbon from the atmosphere through innovative technologies. ‘Orca’ is the company’s first large-scale application of carbon capture, which is best described by its Head of Technology Nathalie Casas.
“Orca is Climeworks’ biggest facility to date. We are grateful for the pioneers that enabled us to increase the carbon-dioxide removal capacity in Iceland. This facility demonstrates that carbon dioxide removal on a large scale is both possible and necessary.”
6. Commonwealth Fusion Systems
Revenue (Circa): US$5.9bn
Commonwealth Fusion Systems (CFS), in partnership with MIT, is revolutionising nuclear fusion with its cutting-edge high-temperature superconducting magnets. Following years of global, governmental investment in fusion science research, the tokamak-based design has emerged as one of the most effective approaches in this new-energy field.
Innovation allows CFS to develop more compact and cost-effective fusion devices with current operations focused on the SPARC system, which is set to be the world’s first commercially-viable machine.
5. Orsted
Revenue (Circa): US$19.8bn
Danish renewable energy giant Orsted A/S is at the forefront of offshore wind farm development, construction, and operation. Earning its place as the world's top offshore wind power developer, it boasts an impressive portfolio exceeding 7.5 GW both installed and under construction.
Having set its mark in countries like the UK, the US, Germany, and Taiwan, Orsted is deeply committed to sustainability. The company’s ambitious goals reflect a profound dedication to reducing their carbon footprint. Aiming for carbon neutrality by 2025, Orsted showcases its steadfast dedication to environmental stewardship.
4. ReNew
Revenue (Circa): US$952m
The company leading India’s energy transition, ReNew was founded by Sumant Sinha in 2011 as a subsidiary of ReNew Energy Global Plc. The company is one of the largest independent renewable energy power producers in the country and has a global portfolio of actions, including 150+ operational sites for utility-scale wind, solar, and hydroelectric power.
ReNew was the first company to cross commission one-gigawatt (GW), 2 GW, and 5 GW renewable energy sites in India, and now operates around 8.4 GW of capacity.
3. GEM Co. Ltd
Revenue: US$4.368bn
GEM Co, Ltd is in the business of recycling. Coining the philosophy of ‘Limited Resources, Unlimited Recycling’ the firm has taken major strides in automotive component manufacturing, namely the batteries that contain precious materials required by the industry.
The company boasts some great climate achievements, including a reduction of 384,791 tons of annual carbon emissions and the dismantling and recycling of millions of Waste Electrical and Electronic equipment (WEEE) each year. GEM established 19 waste recycling and new energy materials manufacturing facilities across 11 cities and provinces across China, also operating in South Africa, South Korea, and Indonesia.
2. Google
Revenue (Circa): US$297.13bn
Showcased at Sustainability LIVE London—and seen in the palm of every mobile user’s hands—Google is leveraging data to monitor climate conditions and predict natural events and ways in which consumers can reduce their mileage and emissions.
Google is not only available to provide the most sustainable routes for internal combustion engine (ICE) and electric car drivers, but also applies its technologies to the weather, meaning it can predict the likelihood of floods and other natural disasters. While these solutions are not immediate in terms of emissions reduction, the visibility of the current situation also sheds a light on climate concerns.
1. BYD
Revenue (Circa): US$533.58bn
A powerhouse of electrification, Build Your Dreams (BYD) is a world-leading automotive manufacturer delivering battery-electric vehicles (BEVs) to consumers and industries—not to mention the main competitor of the reigning leader Tesla.
With a major foothold in the Chinese technology and automotive markets, BYD has leveraged great connections within the industry to build a number of vehicles from passenger electric cars to buses and trucks. EVs are in the spotlight at the moment and BYD is using this attention to deliver them across the globe.
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Other magazines that may be of interest - EV Magazine | Energy Digital
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Net Zero LIVE will be hosted live from the QEII Centre, London on the 6th and 7th of March, and streamed globally via our virtual event platform Brella. Net Zero LIVE London will feature four LIVE themes, incorporating Sustainability LIVE, EV LIVE, Scope 3 LIVE, and Energy LIVE to deliver a holistic conference and exhibition experience with opportunities to connect with like-minded peers and actively contribute to crafting a sustainable future. Following Net Zero LIVE, viewers can also sign up for Sustainability LIVE Dubai and Singapore.
Sign up to the The Global Sustainability & ESG Awards 2024, coming to London on the 11th September 2024.
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