Scaling Europe’s Cleantech Industry: Key Insights from the Cleantech for Europe Summit 2024
On September 26th, 2024, the Cleantech for Europe Summit brought together key players from the policy, cleantech, and investment worlds in Brussels to discuss how to scale Europe’s cleantech manufacturing sector. The event highlighted a growing consensus: if Europe is to remain competitive globally, it must invest in and scale its domestic clean technologies to meet the growing demand.
Taavi Madiberk, CEO of Skeleton Technologies, co-led the session titled “A demand shock for cleantech” alongside MEP Radan Kanev. The discussion centered on the need to boost European demand for clean technologies, while making sure not to increase its dependencies on non-European suppliers, for instance from China, which currently dominates the production of key technologies like solar PV wafers and battery components. Boosting demand for cleantech in Europe should also benefit European cleantech companies, and especially scale-ups.
During the session, he emphasized that Europe must bridge the competitiveness gap with the U.S. and China, as urged by Mario Draghi’s competitiveness report. He pointed out that in 2008, the eurozone and the US had equivalent GDP. Now, the eurozone's GDP is $15 trillion, while US GDP has soared to $26.9 trillion. In terms of GDP per capita, Italy is just ahead of Mississippi, the poorest of the 50 US states, while France is between Idaho and Arkansas, respectively 48th and 49th. Germany lies between Oklahoma and Maine (38th and 39th). Europe has never recovered from the 2008 economic crisis. It is therefore urgent to become more competitive and the key here is to act on both supply and demand. Madiberk urged to align Europe’s regulatory frameworks with its industrial strategy to support the growth of industrial scale-ups and the strategic autonomy. He underscored the untapped potential of public procurement as a tool to boost demand, pointing out that 2.2 trillion Euros is spent annually across the EU – capital that should prioritize European-made clean technologies. “If Europe doesn’t scale its cleantech manufacturing now, we risk turning our Green Deal into a stimulus package for non-European industries”, Madiberk warned.
For Skeleton Technologies, this focus is particularly relevant. As a leader in energy storage solutions, Skeleton is deeply invested in shaping Europe’s clean energy future. The summit was a key moment to highlight how European companies like ours must be empowered to meet growing demand, especially as cleantech manufacturing scales.
The Cleantech for Europe Scale-Up Coalition is a critical initiative aimed at fostering the growth and success of Europe's most promising cleantech companies. Established as part of the broader "Cleantech for Europe" initiative, the coalition serves as a bridge between cleantech innovators, policymakers, and investors. It focuses on aligning the needs of fast-growing cleantech companies with the strategic goals of the European Union, particularly in its pursuit of climate neutrality, strategic autonomy, and global competitiveness.
The summit also saw the expansion of the Cleantech for Europe Scale-Up Coalition, with 11 new members joining, bringing the total to 22 innovative companies. These companies represent a diverse range of breakthrough technologies that are critical to achieving Europe's climate targets and leading the transition to a greener economy. Among the new members is Battolyser Systems, an innovator in green hydrogen production and storage. Their pioneering technology plays a pivotal role in decarbonizing industries that rely heavily on high-energy inputs, offering a sustainable solution for sectors that are traditionally difficult to decarbonize.
Another notable addition to the coalition is Heart Aerospace, a leader in electric aviation. The company is developing electric aircrafts that have the potential to revolutionize regional air travel. By significantly reducing the aviation industry's carbon footprint, their innovations could be a key part of the future of sustainable transportation in Europe and beyond.
This coalition plays a crucial role in bridging the gap between cleantech innovators and policymakers, ensuring that Europe's industrial strategy is informed by those driving innovation in clean technology.
For Skeleton Technologies, being part of the Cleantech for Europe Scale-Up Coalition means not only contributing to policy discussions but also collaborating with other innovative companies to scale Europe's cleantech sector. This collaboration is vital as Europe seeks to industrialize breakthrough technologies at a scale that can truly impact global markets.
As Jules Besnainou, Executive Director of Cleantech for Europe, pointed out during the summit, Europe has a strong foundation in early-stage cleantech innovation, but signifcant public and private investment is needed to scale these innovations to a climate-relevant level. By joining forces with other cleantech leaders, Skeleton is helping to shape the policies that will drive the future of European industry.
In summary, the Cleantech for Europe Scale-Up Coalition acts as a dynamic platform for cleantech leaders to collectively influence policy, secure investments, and ensure that Europe remains at the forefront of the global clean technology race. With companies like Skeleton Technologies and others leading the charge, the coalition aims to transform Europe into a global hub for cleantech innovation, capable of meeting both its climate and economic goals.
As the cleantech landscape continues to evolve, Skeleton Technologies is proud to be part of a movement that ensures Europe’s clean energy future is secure, competitive, and driven by homegrown innovation. The summit made it clear: the time to scale is now, and Skeleton is ready to lead the charge.