Sponsored: PWC’s Irish Climate Tech Opportunity 2023 report highlights how Ireland has the ability to be a world leader in climate tech
The need for new technologies and the opportunities they present hasn’t gone unnoticed. “Entrepreneurs all over the world are looking at this,” he notes. “And the ecosystem of climate tech companies in Ireland is much bigger than we thought it might be when we started work on the report last Spring. We found over 200 companies engaged in the area. They are genuinely trying to do something different and bringing incredible brainpower and innovation to bear.
One of those companies is ElectroRoute. “This was started up by a bunch of people who had worked in the electricity sector here,” says McGee. “They looked at an energy trading issue when it comes to renewable electricity on grids in Ireland and Europe.
Hexafly farms insects in a 15,000 square foot facility in Co. Meath to produce sustainable protein alternatives to traditional animal feed and fertiliser products. According to the company, insect farming practices produce 90 per cent fewer CO2 emissions when compared with other farming methods.McGee believes the existence of the climate tech ecosystem is very encouraging, but some steps need to be taken to support its growth and development. “The first thing to do is to call it out,” he says.
“What we hope to see is the creation of a positive virtuous feedback loop,” McGee adds. “On the one hand you have the universities producing the graduates who go to work for companies in the sector or form their own companies, you have Government supporting the companies through its agencies and so on, and you have venture capital firms and other investors seeing opportunities in the sector.
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