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Indian Companies Shine in Top 100 Climate Tech Firms at IPEF Clean Economy Investor Forum
In a significant recognition of India's prowess in climate technology, 10 Indian companies, including startups, have secured positions among the top 100 climate tech firms selected by the Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum. The announcement was made by the Commerce and Industry Ministry, which highlighted India's leadership in sustainable infrastructure and climate technology on the global stage.
Led by Secretary of the Department of Commerce, Sunil Barthwal, the Indian delegation actively participated in the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum held in Singapore from June 5 to 6. The forum brought together leading investors, clean economy companies, and startups from the region to mobilize investments into sustainable infrastructure, climate technology, and renewable energy projects.
The forum resulted in an impressive USD 23 billion in investment opportunities for sustainable infrastructure projects in the Indo-Pacific region. The coalition estimates that its members possess over USD 25 billion in capital that can be deployed in emerging market infrastructure investments in the coming years, signaling a strong commitment to fostering sustainable development.
One of the notable highlights of the event was the approval by DFC’s Board of an equity investment as part of the USD 900 million Eversource Climate Investment Partners II fund. This investment aims to provide capital, management, and expertise to innovative companies in India and Southeast Asia that are addressing climate change through new and existing capabilities.
Addressing the investor forum, Secretary Barthwal underscored the vast investment opportunities in India, particularly in the clean energy value chain, green hydrogen, electric vehicles, and infrastructure transition. With over USD 500 billion in investment potential by 2030, India presents a fertile ground for sustainable development initiatives and clean energy projects.
The two-day event saw active participation from over 300 stakeholders, including financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs, and government agencies. Under the Sustainable Infrastructure and Climate Tech engagement tracks, participants explored avenues for collaboration and investment in projects aligned with sustainable development goals.
In the Sustainable Infrastructure track, four Indian companies, including ReNew Power, Avaada Energy Pvt. Ltd, Indusbridge Capital Advisors LLP, and Powerica Limited, were shortlisted to pitch their concepts on energy transition, transport and logistics, and waste management to global investors.
Meanwhile, in the Climate Tech track, 10 Indian startups and companies, such as BluSmart, Recykal, LOHUM, Sea6 Energy, and EVage Ventures Private Limited, were selected to showcase their innovative ideas, technologies, and solutions aimed at mitigating or adapting to climate change.
The forum also witnessed the operational launch of the IPEF Catalytic Capital Fund, aimed at deploying concessional financing, technical assistance, and capacity-building support to expand the pipeline of quality, resilient, and inclusive clean economy infrastructure projects. Founding supporters, including Australia, Japan, the Republic of Korea, and the United States, plan to provide USD 33 million in initial grant funding to catalyze up to USD 3.3 billion in private investment.
A coalition of investors, including Singapore’s Temasek and GIC, committed to injecting USD 25 billion in infrastructure investments in emerging markets, further bolstering efforts to address climate change and promote sustainable development.
Additionally, the forum witnessed the signing of an Offtake Agreement between Sembcorp Green Hydrogen India Private Limited, Kyushu Electric, and Sojitz for the production and export of 200 KTPA green ammonia from India to Japan. This agreement aligns with India's National Green Hydrogen Mission, aimed at establishing India as a global hub for the production and export of green hydrogen and its derivatives.
Commenting on the significance of the Investor Forum, Additional Secretary of the Department of Commerce and India’s Chief Negotiator for IPEF, Rajesh Agrawal, emphasized its role in facilitating funding and collaboration opportunities for Indian companies and startups in the CleanTech and Infrastructure development sectors. He highlighted the forum's contribution to India's ambitious goal of achieving net-zero emissions by 2070.
The successful participation of Indian companies and startups in the IPEF Clean Economy Investor Forum underscores India's commitment to driving sustainable development and harnessing innovation to combat climate change on a global scale. With increased investment and collaboration, India is poised to emerge as a key player in the transition towards a greener, more sustainable future.
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