The development of green technology brings new business models

EUSEW, Ragmar Saksing
Ragmar Saksing

In our next contribution to the EUSEW Newsroom, Mr Ragmar Saksing, Greentech Sector Leader from Tallinn Science Park Tehnopol, Estonia writes about green technology and its many benefits in ensuring ‘a clean planet for all’.

Green technology is a relatively new industry; I will briefly explain the nature of green technology and its benefits for entrepreneurship. The main goal of green technology is to reduce the impact of human activity on the environment and to improve the environment. The main goal of green technology is to reduce the impact of human activity on the environment and to improve the environment. Green technology is sustainable and environmentally friendly and, to the maximum extent, utilises renewable energy sources and materials. At the same time, energy use is minimal and/or the created materials, products are recyclable – this ensures energy efficiency and an environmentally friendly life cycle of said products.

Chemistry vs physics

At the heart of today’s economy is the extraction and recycling of mineral resources. The economy of the future is more physics-based, utilising all the operating forces and renewable energy. For this purpose, new business models are created that define how we have been used to doing business so far. From an entrepreneurial perspective, this means generating revenue through change.

New opportunities in traditional areas

In particular, the decentralisation of central systems is one of the areas that should be observed in the development of green technology. Energy savings, energy efficiency in buildings, alternative energy sources, and energy use, food production, recycling of materials, transport and logistics bring along many new opportunities. In all of these areas, science-based businesses are gaining momentum, where smart entrepreneurs help fund scientific inventions.

Here are 5 reasons why we should invest in green technology today:

1. Green technology is gaining more and more popularity and is supported by regulations that support business change.

Prominent examples include the EU 2020 energy strategy and 2050 long-term strategy as well as the European Parliament’s single-use plastics ban.

2. Green companies are innovative and efficient.

Every company has to fight stagnation from time to time. It can be easy to get locked into a way of doing things and never question whether your process is really the most effective or efficient solution. One underrated benefit of going green is that it forces you to evaluate every aspect of your business and identify new, more efficient means of production. It can become addictive to look for (and find) money-saving innovations.

Going green doesn't just mean using renewable energy or more efficient light bulbs. Companies can reduce their energy usage and emissions drastically through simple things like optimizing delivery routes, streamlining the manufacturing process, and using less bulky packaging. A full audit of your energy usage and emissions can reveal these opportunities to cut costs and operate more efficiently. New science discoveries can be used in running businesses.

3. Getting mineral resources is becoming more and more complex and expensive.

Today, mines demand very specialized machinery. They also require highly specialised engineers and technologies. Huge mining machines constantly consume the fuel necessary to run them. As the cost of these items rises, so does the price that the mines must charge.

4. The use of renewable energy is becoming more topical.

In 2017 renewable energy represented 17.5 % of energy consumed in the EU, on a path to the 2020 target of 20 %, with solar energy having now become the most popular form of new electricity generation worldwide.

5. Alternatives are needed in all fields of life.

People have invented plenty of things and reaped a lot of economic benefits from constant reinvention. In the future, we could look at nature as a catalogue of products, where every item has benefitted from 3.8 million years of research and development. Our challenge is to cleverly put nature to work for humankind. The goal: A Clean Planet for All.

About Ragmar Saksing:

Ragmar Saksing is Greentech sector leader and entrepreneur in the field of technology. He works for Tallinn Science Park Tehnopol, Estonia. Ragmar is a marine biologist by education but has been operating in the field of technology for more than 18 years. He has also served as a CTO at startups and enterprises.