Why this is important to Wisconsin businesses: The growing sector may open the door to relationships with Wisconsin companies involved in clean energy and sustainability.
France’s clean energy sector is shining brightly.
The European nation has 2,750 companies in the green tech field as of the end of 2023—up from 800 startups in 2020. That makes it the fourth-largest green tech ecosystem in Europe (behind Sweden, Germany, and the UK).
According to Business France, the clean energy startups generated €3 billion ($3.5 billion USD) in annual revenue in 2021 and created more than 60,000 jobs in such fields as new energies, green industry, ecosystem conservation, agriculture, and sustainable construction. The young companies raised more than $10 billion in capital in 2022, Business France said. Nearly 30% of companies in the sector are focused on ecosystem protection, while new energies account for 19%, and the greening industry represents 18%.
The French government has launched several initiatives in the past few years to boost innovative technology.
In 2022, La French Tech Agri20 began as a way to support agribusiness startups, and in 2023, the government announced the French Tech 2030 program.
“The development of an innovative and industrial economy is essential to ensure our sovereignty, both economic, technological, and political. Whether it is to defend our democracy, accelerate the decarbonization of the economy, overcome tomorrow’s technological challenges, relocate certain advanced industrial sectors, or ensure the vitality of the population, our ability to invent and decide on new solutions allows us to freely choose the major directions of our country,” the government said.
Some of the noteworthy green tech startups in France include:
• Lactips: Develops and produces the only industrial plastic-free polymer
• Lhyfe: Produces green hydrogen using renewable energy
• Entech: Develops renewable energy storage and smart grid solutions to integrate and manage intermittent energy sources
• Neoplants: Developed the first generation of bioengineered plants to fight air pollution
• Innovafeed: Produces eco-friendly, insect-based ingredients for animal feed to support sustainable food production
At a European startup conference in 2021, President Emmanuel Macron said his goal is to see 25 green “unicorns”—companies with a valuation of at least $1 billion—by 2030. A significant portion of the €54 billion ($63.6 billion USD) budget allocated for France 2030 is directed toward green tech initiatives, including decarbonization, green hydrogen, low-carbon aircraft, and electric vehicles.
In addition, the U.S.-France Bilateral Clean Energy Partnership, signed in 2021, furthers a joint commitment to develop and promote clean energy.
Wisconsin companies engaged in clean energy products or services may find opportunities in France.
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