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Clean Technologies And Their Growth Prospects



By Elana Margulies-Snyderman

EisnerAmper’s Trends Watch is a weekly entry to our Alternative Investments Intelligence blog, featuring the views and insights of executives from alternative investment firms. If you’re interested in being featured, please contact Elana Margulies-Snyderman.

This week, Elana talks to Praveen Sahay, Partner and Managing Director of WAVE Equity Partners.

What is the outlook for clean technologies and their growth prospects?

The real breakthrough has been the understanding that profitability and wealth creation lie within these technologies. We have a saying: If it is not profitable, it is not sustainable. Businesses are being urged of course by their stakeholders to reexamine their roles within the environment and society they operate; but the revelation to these businesses has been the difference clean technologies can make to the bottom line. Additionally, discussions about impact have rapidly moved to the mainstream, and investors’ demand for impact assessment and reporting has become more specific and insistent.

From our perch, we see that efficient clean technologies are already winning. Within our own portfolio comprising the clean energy, food, water, and waste industries, companies are experiencing broad market support, with rapidly rising revenues and profits.

We are in the initial phase of a 25-year cycle when production and consumption involved in manufacturing, agricultural, energy, housing, and transportation industries will gradually move toward a circular economy. This is a multi-trillion-dollar opportunity that will be won by those entrepreneurs and investors who understand that impact should enhance economics, not subvert it.

What are the biggest opportunities you see?

The higher-profile industries like solar, wind, biofuels, robotics and AI have been popular (though not always winning) bets amongst entrepreneurs and investors. But there are less obvious innovations that are not only game changers but can also often produce faster returns on investment. Clean technologies are often less conspicuous because they are integrated into industrial supply chains and manufacturing processes: smarter catalysts and chemical pathways to make environmentally friendly products, machine-to-machine interfaces and automation technologies that reduce errors and enhance productivity, for example.

A few of our portfolio companies also illustrate this point. Some, such as lithium ion batteries and indoor farming, are topical and easy to talk about. But we also own companies that make superior insulation materials and water heaters, and that recycle waste and water more effectively and at lower cost. Their impact is widespread and immediate.

What is your outlook for the economy?

We see a rising tide of opportunities driven by very positive developments. Corporations are racing to secure breakthrough innovations that will give them a market edge. Countries are competing to attract and retain high-quality manufacturing jobs. We see a ground movement for environmentally responsible solutions from various stakeholders that will transform how we produce and consume everything. We will be reimagining materials, technologies and processes used in mining, farming, transportation, energy, water and manufacturing. This massive shift in our largest economic sectors will generate tremendous wealth for entrepreneurs and their investors.

That said, there are some sectors that are overdue for correction; corporate valuations and acquisitions are at near highs; and the current political uncertainty could give rise to trade disputes and disruptions of global supply chains.

However, these distractions will not weaken society’s fundamental drive to transform our food and industrial systems into healthier, more sustainable and nurturing organizations. Rather, they will sharpen everyone’s attention to the cost of achieving these desires.

What keeps you up at night?

We yearn for speed! There are massive opportunities to do well and do good, and committed entrepreneurs are doing their part to launch innovative products that produce both financial and environmental dividends. Corporations are stepping up and more funds are getting raised—yet not at a pace that keeps up with the rate of innovation. With more VC/PE capital available to support young industrial companies, we have the potential to make much more meaningful financial, social, and environmental impact.

This article can be found HERE.



WindESCo is a provider of wind turbine optimization systems intended to ensure that every wind turbine is optimized for maximum energy. The company’s systems maximize assets’ performance, energy production, and reliability to ultimately discover the hidden value of renewable energy plants, enabling clients to increase revenue by increasing annual energy production.


In a world where energy demand escalates alongside digital growth, QiO Technologies offers a beacon of innovation. Their DC+ software, powered by advanced machine learning, intelligently fine-tunes power management in data centers at the granular level of CPU operations. QiO technology is a testament to their capability to significantly enhance energy savings while ensuring peak performance.


Novolyze is a developer of a tech-enabled system designed to empower food and beverage companies to enhance food safety and quality performance. Their surrogate microorganisms technology specializes in food safety microbiology. It offers monitoring of steam pasteurizers, sterilizers, dryers, roasters, extruders, and ovens, enabling food companies to produce and provide clean food products to customers.

Micatu, Inc.

MICATU is a provider of next-generation optical sensing solutions for the measurement of voltage, current, vibration, and temperature for next generation grid intelligence solutions. Its solutions provide enhanced data fidelity, accuracy, precision, and the ability to sense harmonic disturbances in the grid before they become a problem for grid operators.

MayMaan Research Inc.

MayMaan is at the vanguard of addressing the 21st century’s critical global energy challenges. Their commitment to creating alternative energy solutions led them to develop an innovative engine/fuel combination. Their award-winning technology, running on a mix of 70% water and 30% ethanol, is set to replace traditional Internal Combustion Engines with a commercially viable, energetically superior, and less polluting alternative.

Living Greens Farm

Living Greens Farm has developed and commercialized an efficient semi‑automated system for indoor farming of leafy crops such as lettuce, spinach, kale and other crops. Like other indoor farms, LGF uses 98% less land, 95% less water than traditional farms, and eliminates pesticides, herbicides, and chemicals. In addition, it has been able to grow superior, robust, full sized plants at low cost.


Intellihot is a leading manufacturer of high-efficiency water heating systems for commercial and industrial markets. Their on-demand gas/propane-fired heaters operate at 95% efficiency, surpassing traditional products. Intellihot’s reliable and space-saving solutions reduce operating expenses by 30-60%, cut capital expenditures by 50%, and contribute to a sustainable future. 

Intelligent Fluids

Based in Leipzig, with a state-of-the-art manufacturing facility in Leuna, Intelligent Fluids employs and partners with top notch researchers to conduct cutting edge research and launch groundbreaking innovation. They have pioneered green impact chemistry for cleaning. A new era of professional cleaning materials for industrial applications that combine the highest performance with sustainability.


Gradiant is a water recycling company with broadly patented processes to purify and recycle toxic water with a global customer base in multiple industries, including desalination, power generation, textiles, oil and gas, leather tanning, and mining. After spinning out of MIT in 2013, the Company has quickly established a diverse business footprint while significantly impacting the world’s water supply.

Factorial Inc.

Factorial is a manufacturer of nano-engineered batteries designed for electric vehicles, homes, and critical applications. The company’s batteries increase energy density and improve capacity, have an extended life, and recharge faster than any other existing material, enabling battery manufacturers to use more environmentally friendly, safer, and less expensive materials.

CHASM Advanced Materials

CHASM produces a range of advanced materials, including carbon nanotubes, transparent conductive films, and nanometal inks, which are used in various applications, such as cement production, EV batteries, antennas, heaters, and flexible electronics. In addition to their advanced materials, CHASM also offers development and manufacturing services to help their customers bring their products to market quickly & efficiently.

Carbon Clean Solutions

Carbon Clean is a developer of carbon capture technology designed to help industries decarbonize and leverage the growing value of captured carbon. The company’s technology offers an energy-efficient process that provides improved capture rates and delivers industrial-quality carbon dioxide for reuse or sequestration, enabling clients to have easy, affordable, and scalable carbon capture.

AeroSafe Global

AeroSafe is a leading provider of ‘Cold Chain as a Service’ (CCaaS) to ensure safe, sustainable delivery and effective use of pharmaceuticals. Its reuse program includes high-tech reusable thermal packaging, outsourced supply chain services, and a temperature monitoring control tower, reducing carbon usage and landfill by 65% and 90%, respectively, compared to traditional Styrofoam containers.

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