Nine Kiwi startups could offset carbon emissions at the scale of NZ forests, says a new report.
The ‘Cleantech Report‘ also features case-studies of startups working on climate-friendly concrete, electric ferries, and clean fuels for heavy industry like shipping.
The Science Media Centre asked independent NZ experts to comment.
Dr Dave Rankin, Green Futures Group Leader, Lincoln Agritech Ltd., comments:
“The 2026 report identifies the scale, growth and potential impact of NZs burgeoning cleantech industry. There are real opportunities to improve energy security, productivity and profitability with a common theme of simultaneously reducing carbon emissions.
“However, there are obvious headwinds with that goal in the current geopolitical environment – with an increasing attitude of climate denial or ‘kicking the can down the road’ with respect to emissions reductions in certain countries (including NZ). This directly affects the cleantech industry since, without using carbon pricing to put a financial cost on carbon emissions, adoption of these new technologies is slower, more fragmented and often reliant on secondary benefits (like increased profitability due to lower energy use) rather than on well-priced emissions reduction alone.
“Solving this problem is critically important for NZ – for our own nationally determined contribution to the Paris agreement and several of our international trade agreements – and more generally for the world as we blow through our 1.5 degrees Celsius targets with real and massive consequences.
“But we should also be celebrating our wins in the cleantech industry, especially the growing technology exports and ultimately even the purchase of these home-grown companies as they shine on the global stage.”
Conflict of interest statement: “We’re actively researching methane destruction / conversion technology (applicable to the agricultural industry) but have not yet begun commercialisation.”
Dr Basil Sharp, Emeritus Professor of Economics and former Director of the Energy Centre, University of Auckland, comments:
“Two of the three key findings around energy security, supply chain resilience and sustainability impacts; and GHG emissions are aspirational, offering potentially beneficial outcomes. The third finding reveals the real challenge facing Cleantech – capital.
“Raising over $100m in private capital during tough economic conditions is impressive. The report does not record what the capital is used for, possibly investment in equipment and technology that supports applied science. Salaries account for around 65% of revenue generated.
“Commercial sensitivity obviously precludes detail but the metrics do not provide insights into how the two aspirational findings might be achieved. This links to the one of the recommendations that impact investors are looking for better data. Quantitative analysis of returns on
investment is essential. The analysis need not be available to the public domain, but available in confidence to potential fund managers. Why is it that New Zealand ranks last among like economies in terms of funds raised?
“The report is silent on the web of institutions actively engaged in clean tech innovation. The case studies are informative. What connections exist between these leaders and the broader research community? What are the channels that attract clever innovative folk into the sector? This might be worth considering given 2/3 of annual revenue going into salaries.
“Overall, the report provides an aspirational impression of what Cleantech can contribute to reducing GHG emissions and material throughput. The message is relevant and important to our future. More empirical analysis of the return to investment will attract private sector capital.”
Conflict of interest statement: “No conflicts.”
Dr Rod McNaughton, Professor of Entrepreneurship at the University of Auckland Business School, comments:
“The report shows that New Zealand has a credible cleantech pipeline with the potential to make an international impact. Our biggest climate contribution may come not only from cutting emissions at home, but from building companies whose technologies help cut emissions abroad.
“That means cleantech should not be treated as a narrow environmental story. It is also an economic and strategic one. It touches productivity, exports, energy security, and resilience.
“The real question is whether New Zealand can turn strong science into globally competitive companies. That takes more than good ideas. It takes capital, customers, procurement pathways, and a system that helps firms move from the lab into the market.
“In cleantech, capital does not just speed growth. It determines which technologies survive long enough to prove themselves.
“The report underplays one important weakness. New Zealand may be good at producing researchers, but we still have work to do in building the capabilities, incentives, and partnerships needed to turn strong science into new ventures. A promising pipeline is encouraging, but it may also conceal the ideas and technologies that never made it far enough to be seen.”
Conflict of interest statement: “No conflicts to declare.”
Alan Hucks, Ecosystem & Commercialisation Development Lead, KiwiNet, comments:
“That depends on access to capital, but also on the publicly funded research and commercialisation system that sits behind these ventures. Through the Commercialisation Partner Network of KiwiNet and Return on Science, New Zealand has built a platform to translate research into investable companies. Continued support for this system will be key to unlocking further cleantech growth.
“Within this ecosystem, university and PRO (Public Research Organisation) technology transfer offices play a pivotal role in identifying opportunities, shaping intellectual property, and connecting researchers with investors and industry. Alongside this, capability-building programmes help researchers develop the skills needed to navigate complex, capital-intensive scale-up pathways.
“Sustained, predictable support for technology transfer offices, the Commercialisation Partner Network and associated capability programmes will be essential to maintaining a strong, diversified pre-seed pipeline, attracting private investment and realising the economic and climate benefits highlighted in the report.”
Conflict of interest statement: “KiwiNet is primarily funded by the Government through the Ministry of Business, Innovation and Employment. Its shareholders are New Zealand universities and publicly funded research organisations.”
Professor Nicola Gaston, Director of the MacDiarmid Institute for Advanced Materials and Nanotechnology, comments:
“This 2026 Cleantech Report shows it’s now actually happening. Companies are scaling quickly and delivering real impact across energy and sustainability, but they are starting to run up against a lack of capital to keep that momentum going.
“It has taken a long time to build this capability, and the expertise now moving from research labs into commercial Cleantech is something we need to protect and cherish. This report really shows the role of researchers in building this Cleantech ecosystem.
“The government will have seen several recent reports from NZGCP, TIN, NZTech and SBC all pointing to similar conclusions. What sets this report apart is the focus on early-stage Cleantech innovators, many of them operating in the hard to abate areas and offering solutions to energy and supply chain resilience, and critical materials access.”
Note: Professor Gaston is Director of the MacDiarmid Institute which commissioned this report.