Green tech companies and research institutes in southern Austria are demonstrating just how economic growth and protecting the climate can go hand in hand. With revenues of €5.6 bn and employing some 24,000 people, the energy and environmental technology sector has come through the current crisis better than the economy in general. And every tenth company expects to double in size this year.
The upward trend continues
This was the general consensus of around 200 energy and environmental technology companies when questioned about their current performance. Following a slight dip in the previous year, companies anticipate a strong upward trend in sales turnover this year. On average, the environmental technology sector is expecting a double-digit increase. While every tenth company plans to actually double its sales of environmental technology.
Renewables in pole position
Green Tech sector sales have reached €5.6 bn. This fantastic result is mainly down to the renewable energies segment. Last year alone it generated a turnover of €4,006 m. This was followed by other segments: general environmental technology with around €694 m, waste and material flow management €661 m, sustainable building and renovation €113 m and water & wastewater €98 m.
Valley builds on research capability
Research into advanced technologies for protecting the climate continues to expand. For the first time in the Green Tech Valley, over 2,000 people are involved in research into green innovation. The R&D ratio of cluster partners is 6.6%.
Asian demand for Green Tech
Companies in Styria and Carinthia continue to emphasise export business. Although the export ratio dipped by 2% due to the COVID pandemic, advanced renewable energy technologies from the Green Tech Valley are still in great demand abroad. Alongside Europe, Asia is a prime target for future growth markets.