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Apr 26, 2023 Tech

Green Tech Industry Thrives with $70.1 Billion Investment in 2022, Poised for Continued Growth in 2023

The Green Tech industry experienced tremendous growth in 2022, with a total investment of $70.1 billion invested in the space, marking an 89% uptick in global investment from the previous year. This investment has helped the space to grow four times larger than it was a decade ago, constantly growing in innovation. 
 

This growth has been driven by several factors, including the implementation of policies and regulations by many countries around the world. Governments have recognized the critical need for decarbonization and have committed to achieving their climate targets. As a result, the expectation for this sector to grow even more within the next year is extremely high. 
 

Going into 2023, there is currently $300 billion in dry powder available for Green Tech start-ups, signalling a bright future for the industry. However, despite this growth, many companies in this space find it difficult to receive IPO as the products offered by Green Tech start-ups are often more time-consuming to develop than those in other sectors like FinTech or HealthTech. 
 

Despite this challenge, entrepreneurs in the Green Tech industry are prepared to work within a longer time frame to develop their products. The rewards for successful Green Tech start-ups are significant, as the benefits of decarbonisation of transportation and renewable energy sources become increasingly clear.  
 

In 2023, we can expect continued investment in the decarbonisation of transportation and the development of renewable energy sources. The need for innovative solutions in these areas is only going to increase as governments and businesses around the world continue to focus on reducing their carbon footprint and achieving their sustainability goals. The Green Tech industry is at the forefront of this innovation, and the future looks bright for the sector. 

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