Despite the challenging economic environment, the cleantech industry is expanding. According to a report from Ernst & Young, the net income and market capitalization of publicly traded cleantech companies around the world grew significantly from 2009 – 2010.
Worldwide, the net income of publicly traded “pure-play” cleantech companies grew 126% to $5.1 billion dollars in 2010, and combined market capitalization increased 27% to $243.2 billion. Total revenues jumped 21% from 2009 levels to reach $152.8 billion in 2010.
“The growth in the population of pure-play public cleantech companies and improvement in their financial performance signifies the industry’s ability to create new market leaders,” remarked Gil Forer, Ernst & Young’s Global Cleantech Leader. “These companies are at the forefront of the transformation to a more resource-efficient and low-carbon economy.”
Cleantech company revenues are growing the fastest in the Asia-Pacific region, says Ernst & Young, however Europe still leads in terms of overall revenue size. The United States boasts the largest number of cleantech firms, which combined have a market cap of $45.1 billion.
“The growth of the global cleantech market is being propelled by corporate adoption of clean technologies, government strategies to exploit cleantech for national competitive advantage and entrepreneurs who see the opportunity to participate in what many observers characterize as the next industriai revolution,” Forer concluded.