Cleantech Report 2024: Materials for a sustainable economy - Annual Report 2024

15 June, 2025

The advanced materials research occurring at our labs across the country is well positioned to contribute to new products, processes and services that underpin a transition to a sustainable economy. That motivated us to work with the NZ Cleantech Mission, to co-author the New Zealand Cleantech Report 2024: Profiling the New Zealand Cleantech Sector.

From left: NZ Cleantech Report authors Kevin Sheehy, Aljo Anand and Phil Anderson (far right), with Hon Simon Watts (second from right)

The report analyses this rapidly emerging sector, showcasing some of the globally competitive emerging companies, and exploring the challenges and opportunities that local cleantech entrepreneurs face when taking their companies global.

My hope is that this document serves as both a reflection on Mint Innovation’s journey so far and a roadmap for the future, encouraging a continued commitment to innovation and sustainability, and positioning New Zealand not just as a creator but also as a global leader in the clean technology arena.
Dr Will Barker Mint Innovation co-founder and CEO

The sector is comprised of over 130 companies across the country, and data from 65 of these companies that employ 1190 people identified:

over $535 million aggregate historic private investment (to 31 March 2024), leveraged off $55 million in historic grant funding;
intention to raise $440 million capital in 2024;
$291 million revenue (for two years to 31 March 2024), despite the majority of companies still being pre-revenue;
$121 million R&D expenditure (for two years to 31 March 2024);
$87 million spent on capital items (for two years to 31 March 2024).

Ten of the companies surveyed are MacDiarmid Institute affiliated start-ups and we continue to advocate for policy, funding and investment settings that support these to compete in global markets. In line with this, we were pleased to see the consultation for the second set of Nationally Determined Contributions under the Paris Agreement include a pillar for innovation to contribute towards New Zealand’s emissions reduction for the first time.

The report has helped identify and showcase this emerging sector of the New Zealand economy and provides an opportunity for investors, policy makers and entrepreneurs to focus their efforts on enhancing New Zealand's ability to participate in the largest disruptive economic trend in our lifetimes.

Techweek montage. Top row, from left: John Worth (Geo40) speaking at the Techweek event; Techweek event exhibitors; Strategic Manager Māori Kirsty Doyle, Peter Gilberd (Tertiary Education Commission) and Deputy Director Māori Pauline Harris. Bottom row, from left: Techweek speakers Michelle Dickinson (Nanogirl Labs), Veronica H-Stevenson (Humble Bee Bio), and Marny Reakes (Pacific Channel and MacDiarmid Institute Governance Board).

Showcasing the New Zealand Cleantech sector as part of Techweek

We launched the New Zealand Cleantech Report in Parliament at our regular Techweek event, titled New Zealand Science Forging Global Cleantech Solutions. We once again led the hosting of this event, and were hosted in Parliament by Minister for Climate Change, Hon Simon Watts, and Minister of Science, Hon Judith Collins for this launch.

The event included a mini expo of cleantech companies and was able to showcase these companies and the excellent speakers to our 200 guests from commercial, investment, research and policy backgrounds. Exhibitors included: