As people become more aware of sustainability efforts and how they can benefit the world around us, the GreenTech industry has been experiencing growth during the shift towards renewable energy and eco-friendly solutions. GreenTech has evolved from a niche sector into something bigger, which could help redefine global energy, transportation, and manufacturing. In this blog, learn more about the rise of GreenTech, key GreenTech startups that are helping redefine the future, and what the future of GreenTech might look like.
The Rise of GreenTech
GreenTech, or Green Technology, has been growing in recent years. Encompassing renewable energy, energy storage, sustainable materials, and clean transportation, this industry has traveled to the forefront of some investors’ minds, with investment increasing by 24% to 29% each year from 2021 to 2023. The industry recorded $2.1T in investment in the sector in 2024, according to BloombergNEF, setting a new record for investment in the space.[1] Electrified transport and renewable energies received the majority of the funding throughout 2024.
As of 2025, the market as a whole was estimated at $25.47B and is projected to grow at a compound annual growth rate of 23.7%, reaching $73.9B by 2030.[2] With 2024 being a record year for GreenTech investment and the market expected to grow over the next few years, who are some of the key players helping contribute to this growth?
Key Players
While many companies are up and coming in the GreenTech space, there are a few MicroVentures portfolio companies who are established in this industry, which you can read more about below.
TAE Technologies
TAE Technologies is developing clean, commercial fusion energy—a potentially limitless power source without radioactive waste. Unlike traditional nuclear fission, fusion replicates the sun’s energy process using hydrogen plasma. TAE’s approach leverages advanced particle accelerators and machine learning to stabilize plasma, bringing fusion closer to reality.
As of June 2025, TAE raised a $150 million funding round, with participation from Chevron Technology Ventures, Google and NEA. Earlier in 2025, TAE announced a major milestone in fusion research that could fundamentally advance the performance, practicality and reactor-readiness of its proprietary fusion technology. As TAE works towards its goal of commercialization of its products by the early 2030s, fusion energy is playing a role in the growth of GreenTech.
Hywatts
Hywatts is developing zero-emission hydrogen fuel cell solutions for green hydrogen production. Its Powerplant-in-a-Box system aims to make hydrogen more accessible for industries like zero-emission vehicle charging stations, data centers, manufacturing, and more, making energy available anywhere.
While still in its early-stages, being founded in 2023, Hywatts received part of $3.4 million in funding from the U.S. Department of Energy to develop a novel water electrolyzer alongside 17 other clean hydrogen and fuel cell projects.
itselectric
itselectric has developed low-cost EV charging solutions for cities without infrastructure overhauls. Its sleek, compact chargers can be installed on street curbs, utilizing existing power infrastructure and aiming to make EV adoption easier for urban residents.
In 2025, itselectric has been working with the cities of New York, Boston, and Detroit to implement its curbside EV charging solutions in urban areas. With installation taking just two days, itselectric also passes on most of its revenue to the property owners that host the chargers in front of their home or business.
Cruz Foam
Cruz Foam creates biodegradable, shrimp shell-based packaging as a replacement for Styrofoam. Its material decomposes naturally in water, helping to eliminate plastic pollution. With primary uses in protective packaging for TVs, electronics, glass and cold packaging for food and pharmaceutical shipping, Cruz Foam aims to reduce the amount of packaging materials that end up in landfills.
In fact, the company has even caught the eyes of Leonardo DiCaprio and Ashton Kutcher, who both became investors in the startup. The technology was featured on Fast Company’s 2024 list of the Most Innovative Companies and TIME’s Best Inventions of 2023 list.
Redwood Materials
Redwood Materials has developed an advanced recycling and refining process to recover critical materials like lithium, cobalt, nickel, and copper from used batteries and manufacturing scrap. Its closed-loop system aims to reduce mining dependency and lower battery costs.
At the end of 2024, Redwood Materials had generated nearly $200 million in revenue from its battery recycling efforts. The company has partnerships with major vehicle manufacturers for EV battery recycling including Isuzu, BMW, Toyota, Audi, Volkswagen, Ford, and most recently, GM as of July 2025.
StoreDot
StoreDot is pioneering extreme fast-charging (XFC) batteries for electric vehicles that can recharge in just five minutes. Its batteries are engineered to recharge faster, and be safer and more sustainable than traditional lithium-ion (li-ion) batteries.
The company is engaging with 15 leading car brands that are evaluating and testing the technology, and the batteries are expected to be implemented in an upcoming Polestar vehicle as well. In 2024 it was able to charge a Polestar 5 car from 10% to 80% in just 10 minutes, a milestone toward its goal of charging in 5 minutes.
The Future of GreenTech
Looking ahead, several key trends may help shape the GreenTech landscape in the future:
1. Energy Storage & Next-Gen Batteries
While lithium-ion batteries are most common today, new technologies like solid-state batteries and sodium-ion alternatives may provide higher efficiency and lower costs.
2. Hydrogen as a Clean Fuel
Green hydrogen (produced via renewable energy) is gaining traction for industrial and transportation use, particularly in heavy industries like shipping and steel production.
3. Circular Economy & Sustainable Materials
Companies are developing biodegradable plastics, upcycled materials, and closed-loop recycling systems to reduce waste.
4. Decentralized Energy Grids
Microgrids and peer-to-peer energy trading platforms are empowering communities to generate and share renewable energy locally.
5. AI & IoT for Sustainability
Artificial intelligence is optimizing energy use in smart grids, while IoT devices can allow for real-time monitoring of carbon footprints.
Final Thoughts
The GreenTech industry is no longer a niche concept—it is permeating into many aspects of life as people work towards bettering the world around us through sustainability. From fusion energy and hydrogen fuel to circular materials and ultra-fast EV charging, GreenTech has evolved and could help redefine the future.
Want to learn more about key industries to keep an eye on? Check out the following blogs to learn more:
- Disruption in Motion: Analyzing Quantum Computing
- Navigating the Digital World: The Growth of Cybersecurity
- Beyond the Battlefield: Defense Technology
- The Sky’s the Limit: Drones and Autonomous Vehicles
- Printing the Future: The Landscape of 3D Printing
Are you looking to invest in startups? Sign up for a MicroVentures account to start investing!
[1] https://www.investopedia.com/going-green-with-your-investments-11744567
[2] https://www.globenewswire.com/news-release/2025/03/20/3046392/28124/en/Green-Technology-Sustainability-Market-Report-2025-Global-Green-Tech-Market-to-Skyrocket-to-73-9-Billion-by-2030-Driven-by-AI-ESG-Compliance.html
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The information presented here is for general informational purposes only and is not intended to be, nor should it be construed or used as, comprehensive offering documentation for any security, investment, tax or legal advice, a recommendation, or an offer to sell, or a solicitation of an offer to buy, an interest, directly or indirectly, in any company. Investing in both early-stage and later-stage companies carries a high degree of risk. A loss of an investor’s entire investment is possible, and no profit may be realized. Investors should be aware that these types of investments are illiquid and should anticipate holding until an exit occurs.
