Cleantech Group Names the 2023 APAC Cleantech 25

Sustainable Innovators With Exciting Potential Selected as Companies That Shine

San Francisco, CA – 17 May 2023:  Cleantech Group has just released the APAC Cleantech 25, an annual list of Asia-Pacific private sustainable innovation companies that have the potential 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 inputs from the Global Cleantech 100 process.  Companies with the strongest patterns of validation across all points receive the highest scores. 

The APAC Cleantech 25 program has been running since 2018, with the support of the Asian Development Bank and Enterprise Singapore. 

A few highlights of this year’s analysis include: 

Venture Investments in Asia-Pacific Cleantech Remain Strong.  Venture and growth investments in Asia-Pacific cleantech remained steady last year compared to 2021, but APAC saw a Q1 2023 that outpaced the entire second half of 2022.  

APAC is Energized by a Global Shift to Electrification.  China remains the dominant source of Energy & Power innovation in the region, comprising just under 60% of all cleantech fundraising.  In India, there is still significant activity in electric mobility, as homegrown electric solutions such as electric three-wheelers and scooters raised rounds upwards of $60M in the past 15 months; but some early cases in battery materials companies attracting global investment may offer an indication of things to come. 

Alternative Proteins Press On, But Agricultural Efficiency is Accelerating.  In recent years, much of the attention has focused on the development of alternative proteins and software-based food distribution platforms. It has now diversified and covers everything from insect-derived and plant-based proteins to precision fermentation and cultivated meats. Beyond this, APAC innovators are also boosting on-farm operating efficiencies. 

This highly anticipated annual report brings you the complete list of leading 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 nine countries, and are delivering sustainable solutions in these five sectors:  

  • Agriculture & Food 
  • Energy & Power 
  • Materials & Chemicals 
  • Resources & Environment 
  • Transportation & Logistics 

“These 25 companies and the increased momentum in the Asia-Pacific region enhance my viewpoint that the supply of innovation is not going to be the limiting factor in getting on top of the worsening climate crisis,” said Richard Youngman, CEO, Cleantech Group.  “The demand side, represented by governments, corporates and financiers, needs to get way more serious and urgent about closing the widening gaps between their net zero commitments and their actions.”   

The APAC Cleantech 25 companies will be honoured at the upcoming Cleantech Forum Asia on June 6-7 in Singapore.  Attendees 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 the world’s leading authority on cleantech innovation. Since 2002, our research, consulting and events have catalyzed opportunities for sustainable growth powered by innovation.  At every stage from initial strategy to final deals, we bring corporate change makers, investors, governments and stakeholders from across the ecosystem, the access and customized support they need to thrive in a more digitized, de-carbonized and resource-efficient future.