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New Zealand Companies to Increase Investment to Adopt Clean Technology

In recent decades, clean energy technologies have advanced at an astounding rate. Despite significant progress, many people want to see more done to address today’s multifaceted global challenges, such as climate change mitigation, poverty reduction, environmental degradation, economic growth, and national security.

Clean energy technology is a key tool for achieving clean energy substitution. China has developed a slew of innovations and applications in clean power generation and operation technologies, providing a strong impetus for large-scale clean energy exploration and integration.

As per a report from one of New Zealand’s innovation agencies, local clean tech innovators are currently struggling to compete with their foreign counterparts because they are unable to attract the same level of investment. As a result, many fail to survive long enough to secure critical late-stage funding to bring their products to market.

According to the company’s innovation report, ‘New Zealand Climate Tech for the World,’ research shows that companies working to solve pressing environmental problems are under-funded when compared to other small, advanced economies. Kiwi clean tech businesses were also not surviving long enough to access the late-stage financing necessary to grow or were not perceived by investors to have sufficient potential to grow.

As a result, a cross-government partnership has been formed to turn this around and make New Zealand a global leader in clean technology. One of the report’s key recommendations was to increase collaboration among government organisations to increase investment in clean technology. Another is collaborating with multinational corporations to help businesses grow.

New Zealand’s innovation agency clean tech spokesman stated that new technologies will help the country meet its carbon targets and build a high-value export sector while also creating jobs. More investment was required to commercialise some of the emerging technology to achieve this. The partnership would develop a five-year roadmap to attract investment, strengthen local and global networks, scoping new initiatives and develop clusters of cleantech businesses.

Despite the fact that a recent review of the country’s cleantech businesses revealed up to 300 companies working on technologies, applications, plastic alternatives, new energy sources, and industrial waste processing. In the 2020 financial year, 98 cleantech businesses that had been funded by New Zealand’s innovation agency, generated $334 million in revenue, supported nearly 2000 jobs, and invested in $95m worth of research and development. There were about 680 high-value research and development jobs.

New Zealand’s innovation agency and few other innovation companies have established the NZ CleanTech Mission partnership to convert local cleantech into profitable businesses.

Correspondingly, the New Zealand government, in implementing strategies, sets the policy direction and priorities for the New Zealand energy sector, with the goal of achieving net-zero carbon emissions by 2050 while building a more productive, sustainable, and inclusive economy.

The government’s vision is for an affordable, secure, and sustainable energy system that provides for New Zealanders’ wellbeing in a low emissions world. The renewable energy strategy work programme focuses on three main outcomes:

  • An inclusive and consumer-focused energy system
  • A system that encourages increased investment in low emissions technologies, and
  • An innovative and modern energy system that creates new opportunities for businesses and consumers.

Looking ahead, the country’s clean energy enabling strategies and resources will be critical in managing the dynamic nature of a high clean energy system. Notably, this entails gaining increased flexibility for the electricity system via generation resources, demand, and storage to manage the variable supply from high wind and solar penetrations.

As the demand for clean energy grows, storage and improved demand-side technologies will be required. These areas present promising opportunities for technology researchers to assist in enabling and hastening the transition to this future.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.