The gap nobody talks about

Here’s a problem that doesn’t get nearly enough attention: a startup has a promising clean energy technology. It works in theory or in the lab. It has credible science behind it. And it has a founder willing to bet years of their life on it. But to get to the next stage — real-world pilot, third-party validation, investor-ready data — they need access to specialized equipment that costs millions of dollars to build and operate.

Most early-stage startups simply cannot afford it.

This is the quiet bottleneck sitting in the middle of the energy transition. Governments invest in basic research. Investors come in once a technology is proven. But the messy, expensive, technically risky middle — the stage where a promising prototype becomes a bankable asset — is where innovation can sometimes go to die. Not because the ideas aren’t good enough. Because the infrastructure to prove them isn’t accessible.

California decided to fix that. What it built is worth understanding — because it works, and because it can be replicated around other parts of the world. Here’s how.

The pipeline that changed the game

The California model runs in two stages, and both matter.

It starts with CalSEED – the California Sustainable Energy Entrepreneur Development Initiative – which, after passing through a due diligence process, provides non-dilutive, non-matching grants to clean energy entrepreneurs at the earliest stage of development, when they have a concept but not yet a prototype. No equity surrendered. No requirement to find private co-investment first. Just capital at the moment when an idea is most fragile and most fundable by nearly nobody else, combined with post-grant guidance and support. CalSEED was deliberately designed to reach the founders that conventional funding filters out – people without investor networks, working on technologies that take years to mature, from communities that have historically been locked out of the innovation economy.

The pipeline leads to CalTestBed: a voucher program that gives clean energy entrepreneurs up to US$300,000 worth of vouchers to access world-class testing facilities at University of California campuses and Lawrence Berkeley National Laboratory at no cost to them. No equity. No matched funding. No IP claims. Just access to the equipment and expertise needed to turn a working prototype into something an investor can actually underwrite.

The jump in Technology Readiness Level – the internationally recognized scale from basic concept (TRL 1) to full commercial deployment (TRL 9) – that companies make through CalTestBed averages 1.6 levels. That doesn’t sound like much until you understand what it means in practice: the difference between a technology that sits in a drawer and one that lands a strategic partner, a major funding round, or a commercial contract.

Since CalTestBed launched in 2019, the 64 companies it has supported have collectively raised an estimated US$438 million in follow-on private investment – from US$16.5 million in testing vouchers. And it started because government was willing to be the first risk-taker in the room, so that other capital could follow with confidence.

Both programs are funded through EPIC – the California Energy Commission’s ratepayer-funded R&D initiative, built on a simple public compact: utility customers invest in the innovations that will ultimately make their energy cheaper, cleaner, and more reliable. It is public money deployed at the stages where private capital won’t go, in service of outcomes the market alone won’t deliver.

What this looks like for a real company

Coreshell Technologies is the story of the right support arriving at the right moment.

Jonathan Tan spent a decade commercializing membrane technology for industrial applications before co-founding Coreshell in 2017 around a deceptively simple problem: every time you charge a rechargeable battery, a little bit of it dies. That gradual capacity fade is one of the core barriers to affordable, long-lasting batteries for electric vehicles and grid storage – and it was a problem nobody had solved at scale. Coreshell’s answer was a nanolayer coating applied to the inside surface of battery electrodes, preventing degradation without requiring manufacturers to change their existing production lines.

CalSEED was one of Coreshell’s very first backers. That early, non-dilutive support gave Jonathan and his team the runway to develop their concept without giving up equity, IP, or spending the company’s early months chasing investors rather than doing science. From CalSEED, they moved into CalTestBed: accessing UCLA facilities and Lawrence Berkeley National Laboratory simulation tools that would otherwise have been far beyond their budget.

Coreshell has since raised close to US$40 million, including a US$24 million strategic round in March 2025. They won the Startup World Cup’s US$1 million grand prize. They are now delivering commercial battery samples to global automakers from a manufacturing facility in San Leandro, California. The California Energy Commission and New Energy Nexus California were among their earliest supporters. The market came in once the science was proven.

That is what the pipeline is designed to produce. And Coreshell is not an exception; it is a representative example of what happens when you remove the access barrier at the right moment.

Gridware is another. The company came into CalTestBed (and later CalSEED) with technology that monitors electricity distribution lines in real time, catching faults before they cause outages or wildfires. After testing through the program, Gridware’s Gridscope technology was integrated by S&C Electric into a grid-resilience product now being deployed by utilities across the US. The CalTestBed validation gave a major industrial partner the confidence to build Gridware’s technology into their own product. That kind of outcome — a startup’s technology embedded in an industry leader’s commercial offering — is extraordinarily difficult to achieve without the credibility that independent, third-party testing provides.

Why most countries don’t have this

The underlying logic of CalTestBed is simple: the infrastructure already exists. Universities and national laboratories have some of the most sophisticated research equipment in the world. But it was built for academic research, and most of it remains largely inaccessible to the startups that need it most.

The reason most countries don’t have a program like this isn’t lack of will. It’s a default assumption baked into most public funding design: that government should wait for private capital to show up first, and only then provide support. Match requirements, co-investment conditions, milestone-based tranches – all of them are designed to reduce government risk by making sure someone else has already committed. The effect is to make government funding available only to the companies that often least need it: those that already have networks, credibility, and backing.

California inverted that logic. Government goes first. It backs the science before the market will. And in doing so, it creates the conditions for the market to follow – at scale, and with confidence. The return, across CalTestBed alone, has been roughly US$26 in private investment for every public dollar in vouchers – or to put it another way, US$438 million in follow-on funding from US$16.5 million in public vouchers.

That model is not California-specific. It is replicable anywhere with research infrastructure, early-stage startups, and a government willing to act as a first mover rather than a last resort.

Australia is where we’re starting to expand

Australia has committed over AU$70 billion to decarbonising Australia’s economy over the coming decades. It has world-class universities, abundant critical minerals, a strong engineering tradition, and a generation of clean energy entrepreneurs who are ready to build. What it has lacked is a reliable,  structured, funded pathway to turn early-stage innovation into investment-ready technology – the same gap the California pipeline was built to close.

The problem is structural. Australian early-stage grant funding programs almost universally require matched private investment, which creates exactly the barrier that California removed. The Investor Group on Climate Change has put a number on the consequence: 61% of institutional investors cite a lack of investment-ready opportunities as their reason for staying on the sidelines. The capital is there. The ambition is there. The pipeline between them is not.

AusTestBed is our response to that. 

Modeled directly on CalTestBed, it will give Australian clean energy startups non-matching vouchers to test their prototypes at Australian universities and research institutions: the same model, the same logic, applied to Australian infrastructure and Australian founders. The pilot program, supported with seed funding from Boundless Earth, will see three battery and energy storage startups — Powerblocks, Adoxima, and Carbophite — each receive AUD$50,000 to begin testing at Australian facilities.

But testing is only half the pipeline. AusSEED — modeled on CalSEED — is the next piece: non-dilutive, non-matching concept grants for Australian founders at the very earliest stage, building the pipeline that feeds into AusTestBed. Together, they would give Australia what California spent years building: a coherent, no-match, equity-free pathway from first concept to investor-ready asset.

The AusTestBed pilot launched at Sydney Climate Action Week 2026, with California Energy Commission Chair David Hochschild — under whose leadership CalSEED and CalTestBed were funded and scaled — in Sydney for the occasion. His presence reflects something important: this isn’t a theory being imported from abroad. It is a proven model, with five years of data behind it, being deliberately adapted for Australian conditions by the people who built the original.

We are working with EnergyLab to grow AusTestBed and potentially AusSEED into national programs, universities, and state and federal governments. Initial testbed partners include TRaCE (a partnership between UNSW and the University of Newcastle), which will provide access to testbed facilities, alongside the University of Melbourne.

We believe the model has potential beyond Australia too: there are markets across the Asia-Pacific and beyond where the same pipeline problem exists and the same solution could take root. But that ambition starts here, with this pilot, and with the question of whether Australia is ready to back its founders the way California backed its own.

We think the answer is yes. And we believe the returns — for founders, for investors, for the energy transition — will speak for themselves.

To learn more about AusTestBed, AusSEED, or the testbed model, contact kirk.mcdonald@newenergynexus.com.

Roha Rehan presents her paper on PakPlug at the 2025 IEEE Transportaton Electrification Conference and Expo, Asia-Pacific (ITEC-AP) in Singapore.

Could the “Airbnb” of charging stations be the key to unlock an EV revolution?

Electric vehicles (EVs) in Pakistan are more than just a passing fad. The stage is set for explosive growth, with an ambitious aim of 30% of new vehicles sold by 2030 being EVs, and Chinese EV giant BYD building a manufacturing plant in Karachi to produce 25,000 vehicles annually starting this year.

But is the infrastructure in place to support such a rapid boom? After all, EV charging stations are about to become as huge a commodity as gas stations.

This is where clean energy entrepreneurs like Roha Rehan, a recent electrical engineering graduate from Lahore, come in. Roha’s business, PakPlug, wants to be the “Airbnb” of EV charging stations for Pakistan’s growing EV market.

The spark

Roha’s journey starts at home.

She said her father, an electrical engineer himself, is very “into EVs.” Her family started with hybrid cars in 2012 and has exclusively driven EVs since 2023. While it has helped them cut fuel costs, it wasn’t all smooth driving.

“When we have to travel from Lahore to any other city, we really need to borrow a car from somebody else, because we don’t know if we can locate chargers for our electric car,” Roha said.

She and co-founder Hammad Javaid found that even if charging stations were in an area, a local would have a hard time finding them, as they’re not being marketed properly nor geotagged. That led to the development of PakPlug—an app where anyone can find a place to recharge their vehicles in Pakistan.

The PakPlug app.

Here’s how it works: People who own an EV charger at home or at an establishment can add it to PakPlug’s system. Users can then find this charging station through the app, and the owner will be able to charge a fee for renting it out.

As a plus for the energy transition, 85% of EV charging stations currently in PakPlug’s systems use solar energy, keeping in pace with Pakistan’s solar boom.

Speed bumps

Currently pre-launch, the app is still going through growing pains. Onboarding customers, ensuring the security of people lending chargers at home, and deciding a price point for renting—these are a few of the barriers for customers and owners, which the team is actively solving.

For example, Roha says they’ve recommended that owners only install their chargers near their gate, so they run a wire into the driveway, and customers don’t have to go inside the home. They’re also testing dynamic pricing, where people can charge more if they own other facilities like restaurants beside their charging station, as it means drivers have something to do while recharging.

Aside from app development, being a woman in STEM comes with its own set of challenges. Roha shared that even in university, her electrical engineering classes had a ratio of 40 men to nine women, and doubts in her abilities continued after graduating.

“When I started this startup, a lot of people had questions like, ‘do you know how EVs charge?’ ‘Do you know this and that?’ And I was like, yes, that’s literally my degree,” Roha said. “People tend to think that women aren’t able to do much in a startup ecosystem, and that they will always need some backing.”

Roha Rehan presents at the National Incubation Center Lahore in 2025.

Despite these, Roha has gotten a lot of encouragement from the field. But to break out into the market and scale fast in Pakistan’s changing EV landscape, she saw the need for stronger, more tailored support.

Revving up

Enter Climate Innovation Pakistan (CLIP), a collaboration between New Energy Nexus and Renewables First. Roha was selected for the first cohort of the CLIP Incubator: a 12-week, equity-free program helping entrepreneurs validate products, run pilots, refine business models, and connect with investors and partners across Pakistan.

“I was also incubated somewhere else before, but those were for a wide range of startups. There wasn’t any direct climate-related guidance,” Roha said. “As we discussed in one of our last sessions [in the CLIP incubator], it’s really hard for climate startups to get initial funding, because their impact is going to be long-term and you can only project numbers for the future.”

As she expected, Roha is picking up a lot from sessions dedicated to climate and clean energy solutions like hers, such as emissions impact analysis and what climate investors look for in pitch decks. She’s also getting mentored by Shah Talha Sohail, CEO & Co-founder of Pakistani EV startup Mode Mobility, as part of the program.

“The mentorship sessions that I’m having with Talha are also great, because he’s been working in the startup ecosystem for a while now and he’s really willing to help us out wherever possible,” Roha said. “He even told us that he’ll help us set up our initial grant phase, where we can start applying to grants, if not proper investments, for now.”

The road ahead

As they get PakPlug ready for launch, Roha shared big plans for the app. They’ve set an initial goal of 200 customers in the first three months post-launch. They are also developing a smart switch for EV charger owners, which would track electricity usage and inform changes in pricing.

The team also envisions partnering with the national government and taking on a bigger role in the country’s energy transition.

“So, in the future, when I’m traveling from Lahore to Islamabad, I want to say ‘I don’t have to borrow somebody else’s petrol car and add to the emissions,’” Roha said. “‘I can use my electric car to travel, and I can easily locate chargers as well.’”

Roha Rehan presents an event on addressing e-mobility challenges in Pakistan.

Her advice to fellow young entrepreneurs and women in STEM venturing into clean energy?

“I think for someone young, I would say that startups don’t happen overnight. It takes a lot of time and a lot of patience. So if you come up with an idea, you shouldn’t just give up because it’s not happening right now,” Roha said.

“And for women, it doesn’t matter how big or small the idea is, and you shouldn’t let people tell you otherwise… You don’t particularly need to have a co-founder that’s a man who knows all this stuff. You can figure it out on your own.”

If you’re a founder like Roha looking to scale your climate solution, in Pakistan and beyond, check out how we can support you here.

The NEX Bridge Unveiling Ceremony at Zhangjiang Science Gate, Shanghai, China.

Over two days, New Energy Nexus and the Lujiazui Group brought 100 founders, investors, suppliers, and ecosystem partners together in Shanghai to explore one practical question: how can climate solutions move faster across borders?

The challenge isn’t technology. Instead, it’s about deploying clean energy solutions fast enough around the world. To do that, we need trust, partnerships, and pathways that turn manufacturing strength into global impact.

That’s NEX Bridge’s mission: a new initiative that connects China’s clean energy suppliers and global markets. The program provides an incubator space in Zhangjiang, alongside training, events, industry exchanges, and technology demonstrations to help companies scale and reach international opportunities.

Here are five key takeaways from the launch that highlight how NEX Bridge is turning connections into action.

Andrew Chang, CEO of New Energy Nexus.

1. Market access is the new climate lever.

For many startups, the problem isn’t building great technology. It’s getting it out to the world. NEX Bridge positions China not just as a manufacturing hub, but as a launchpad for global expansion, while giving international founders a front-row seat to what’s possible here.

“We’re incredibly excited because this is a fantastic opportunity, not only for startups to be able to go out to the world… but also for other startups to be able to see what’s happening within the Chinese market, in this clean energy powerhouse.” — Andrew Chang, CEO, New Energy Nexus

When suppliers and startups share the same room, deals happen faster. Pilots happen sooner. Markets open.

Puon Penn, CEO and Managing Partner of New Energy Nexus Ventures, and David Fishman, Principal at The Lantau Group, during the tour of the NIO House Experience Center.

2. Seeing solutions in person changes everything.

Slides and Zoom calls can only go so far. Walking factory floors, testing vehicles, and meeting founders face-to-face turns abstract ideas into tangible opportunities.

That was clear during visits to the NIO House Experience Center and the GCL Perovskite Facility, where guests saw battery swapping in action and next-generation solar manufacturing at scale.

“Seeing is really believing… having entrepreneurs meet with each other to really witness with their own eyes the solution that’s possible is key for their success.” — Puon Penn, Managing Partner, New Energy Nexus

Trust grows faster when you know how the technology works in reality.

Kirk McDonald, Project Manager – Supercharge Australia at New Energy Nexus, presents during the Unveiling Ceremony.

3. China’s speed moves the rest of the world faster.

From Southeast Asia to Australia, partners shared the same reality: climate impacts are accelerating, and deployment must match that urgency.

China’s production capacity offers a rare advantage. The challenge now is moving solutions across borders quickly and responsibly.

“China has a huge advantage in the production capacity of renewable energy technologies. The world desperately needs them… and we need to get more of them out of the country as quickly as possible.” — Kirk McDonald, Project Director, Supercharge Australia

Bridging supply with demand isn’t just good business. It’s a climate necessity.

David Fishman, Principal of The Lantau Group, presents at the Unveiling Ceremony.

4. The next wave of innovation is about flexibility.

As grids add more renewables, the opportunities shift. It’s not only about generating clean power, but storing it, moving it, and using it smarter.

Entrepreneurs working on storage, demand response, and intelligent energy management will play an outsized role in what comes next.

“Anything that contributes to flexibility should continue to be an extremely important and hot area for innovation.” — David Fishman, Principal, The Lantau Group

In other words, the future grid needs as much brains as hardware.

Tour of the GCL Perovskite Facility.

5. Ecosystems beat isolated wins.

No single company can solve climate change alone. What works is a system: incubators, capital, partners, policymakers, and entrepreneurs moving together.

NEX Bridge is designed as that connective tissue, combining workspace, demonstrations, training, and dealmaking under one roof in Zhangjiang.

“One of the most exciting things about Nex Bridge is that we’re bringing a holistic platform together… an incubator space, a demonstration area, expo… workshops and trainings to support clean energy suppliers in China to be able to go to global markets.” — Andrew Chang, CEO, New Energy Nexus

It’s not just a place to meet. It’s a place to move from idea to deployment.

The NEX Bridge Unveiling Ceremony at Zhangjiang Science Gate, Shanghai, China.

From Shanghai to the world

Clean energy isn’t only about building hardware and generating megawatts. It’s about trusting partners across borders and collaborating to make the clean energy shift happen—the fastest way possible.

At New Energy Nexus, this is how we work everywhere we operate: building ecosystems that help entrepreneurs scale across borders. In China and across 13 more countries, we connect founders with the training, capital, partners, and markets they need to grow.

Want to break down walls and build bridges with us? Take the next big step for your clean energy or climate startup: Check out programs and opportunities from our global network here.

For many early-stage startups, being “investor-ready” is often interpreted as having a polished pitch deck. In reality, investor readiness goes much deeper. It reflects how clearly founders understand their business, how prepared they are to share evidence behind their claims, and how confidently they can navigate fundraising conversations over time.

These themes were explored in an online expert learning session led by Puon Penn, CEO and Managing Partner of New Energy Nexus Ventures, as part of the She Wins Climate Southeast Asia Accelerator. Here are six key insights coming out of the session:

1.Valuation is a negotiation

One of the strongest messages from the session addressed a common misconception among early-stage founders.

“Valuation is a negotiation, not a calculation.”

At the early stage, valuation is rarely driven by complex financial models. Instead, investors look at the overall opportunity, the urgency of the problem being solved, the credibility of the team, and early market signals. Revenue projections matter, but they are only one part of the conversation.

Understanding valuation as a negotiation helps founders focus less on finding a “perfect number” and more on clearly communicating why their startup is worth backing.

2.Investor readiness starts before the fundraise

Investor readiness is not something to prepare only when fundraising begins. It should be built early, alongside product development and market validation.

Investors look for consistency. They pay attention to how founders explain their problem, articulate their solution, and describe their progress over time. Startups that treat fundraising as a process rather than an event are better positioned to respond to questions, requests, and due diligence when they arise.

Being “ready” means knowing your numbers, your assumptions, and your story, and being able to explain them clearly without overpromising.

3.Prepare for due diligence early

Due diligence is often perceived as something that happens after an investor shows a strong interest. In reality, it can begin informally much earlier through conversations, follow-up questions, and data requests.

Puon highlighted that prolonged due diligence with unclear timelines is a common challenge for startups. Founders were encouraged to prepare basic documentation early and to approach due diligence as a two-way process.

Clear communication, defined timelines, and aligned expectations can help founders protect their time and maintain momentum during fundraising.

4.Knowing what investors look for

Investors are not only evaluating the business. They are also evaluating how founders think, respond, and make decisions.

Investors pay attention to:

• How founders handle difficult questions
• Whether assumptions are grounded in evidence
• How risks are acknowledged and managed
• How open founders are to learning and iteration

Being investor-ready means being honest about what you know, what you do not know, and how you plan to learn.

5.Fundraising is a strategic process
Rather than approaching fundraising as a short-term goal, Puon encouraged founders to see it as a strategic process. This includes choosing the right investors, understanding alignment beyond capital, and being thoughtful about timing.

Not every “yes” is the right yes. Fit matters, especially at the early stage, when investors often play an active role in shaping a startup’s direction.

6.Building confidence through preparation
Ultimately, the session reinforced that confidence in fundraising does not come from memorizing a pitch. It comes from preparation, clarity, and experience.

Startups that invest time in understanding their business, their market, and their fundraising strategy are better equipped to navigate investor conversations with intention rather than pressure.

After all, investor readiness is not about being perfect. It is about being prepared.

Supporting women-led climate startups

This expert sharing session is part of the She Wins Climate Southeast Asia Accelerator, initiated by the International Finance Corporation (IFC) and supported by the Government of Canada and the Government of Australia.

The program supports women-led climate startups across Southeast Asia with investment readiness, go-to-market capability, and access to regional and global networks.

Mastering your commercialization engine

For early-stage startups, the term “go-to-market” is often mistaken for a launch activity. A campaign, a sales push, or a growth sprint.  A go-to-market is a roadmap organisation’s made for launching a new product or service.

In reality, go-to-market is a learning process. It is how founders understand who their customer truly is, how value is delivered, and what it takes to move from early interest to real adoption.

These insights were at the center of an expert sharing session led by Sharinee Shannon, Venture Partner at Hive Ventures, as part of the She Wins Climate Southeast Asia Accelerator Program.

Start with one customer

One of the most important messages from the session was the need for focus at the earliest stage.

“You don’t win go-to-market by trying to serve everyone. You win by knowing one customer deeply, then expanding from there.”

Early-stage founders often see multiple potential customer segments, especially when building solutions that could apply across industries. While this flexibility can be valuable, pursuing too many customer types at once slows learning.

By selecting one ideal customer profile (ICP), founders are forced to go deeper. This includes understanding the customer’s buying cycle, pricing constraints, internal decision-making, competitors in their context, and where they spend time.

This depth of understanding becomes the foundation for effective distribution, pricing, and messaging. Expansion can come later, once there is evidence of traction.

Defining your ICP clearly

To help founders move from assumptions to action, the session encouraged using a simple framing to define an ICP:

We help (who) solve (pain) by (solution) because (urgent why).

The goal is to be as specific as possible. Specificity helps translate strategy into action.

A clear ICP definition makes it easier to decide:

• Who to prioritise for conversations and pilots
• How to tailor messaging and value propositions
• Which channels and partnerships are worth pursuing
• What kind of evidence or validation is needed

If defining one ICP feels restrictive, it may help to see it as a starting point rather than a permanent choice.

Start with a problem that feels urgent

Go-to-market does not start with market size. It starts with a problem that customers feel strongly enough to act on.

Useful questions to explore include:

• How does this customer currently address the problem?
• What are the limitations of that approach?
• What risks or costs exist if the problem remains unsolved?

Understanding urgency helps shape messaging, pricing, and distribution decisions, and often explains why some customers move faster than others.

Early go-to-market is about learning

In the early stages, go-to-market activities are less about scaling and more about learning.

Pilots, trials, and early deployments provide valuable insight into:

• How customers actually use the product
• Who is involved in approving a purchase
• How long decisions take in practice
• Where friction or hesitation occurs

These insights help founders refine both the product and the go-to-market approach before expanding further.

Choosing distribution with intention

Distribution channels should reflect how a chosen ICP prefers to discover and adopt solutions.

Some customers value direct engagement, while others rely on partners or peer recommendations. Understanding these preferences reduces wasted effort and improves conversion.

When the ICP is clear, distribution decisions tend to become more straightforward.

Pricing as part of go-to-market

Pricing plays a role beyond revenue generation. It signals value and influences adoption.

Early pricing discussions can reveal how customers perceive the importance of the problem being solved. Feedback during negotiations or pilots often provides direction for refinement.

Rather than aiming for perfect pricing early on, the goal is to learn and adjust.

Go-to-market evolves over time

It is expected that a go-to-market approach will change as a startup gains experience and feedback from the market.

Adjustments to ICP, messaging, channels, or pricing are signs of learning, not failure.

Go-to-market is best viewed as a capability that strengthens over time through focused experimentation and reflection.

Supporting women-led climate startups

This expert sharing session is part of the She Wins Climate Southeast Asia Accelerator, initiated by the International Finance Corporation (IFC) and supported by the Government of Canada and the Government of Australia.

The program supports women-led climate startups across Southeast Asia with investment readiness, go-to-market capability, and access to regional and global networks.

Clean energy’s surge in 2025 wasn’t a fluke. It is set to roar through 2026, with the International Energy Agency forecasting that renewables could overtake coal as the world’s top electricity source next year, led by solar and wind.

For entrepreneurs, 2026 is the moment to scale solutions and take the lead. Here are four trends that make it clear why now is the time to act.

Workers walk in between rooftop solar panels installed at a chain grocery store.

1. Renewable energy demand is creating urgent opportunities for skilled entrepreneurs

Global renewable capacity is projected to expand rapidly, with renewables expected to become the world’s largest source of electricity by 2026. Solar and wind are driving most additions, while electricity demand is forecast to grow around 3.7 % in 2026, highlighting growing markets for skilled technicians and engineers.

Why it matters for founders

Strong technical skills combined with entrepreneurial ability allow founders to launch and scale businesses in solar, distributed energy, and local clean energy services. Programs like our New Energy Academy give aspiring entrepreneurs the training and confidence needed to start their ventures. Entrepreneur Jimmy Ricohermoso leveraged the program to launch SolarXEnergy, installing tens of kilowatts across three Philippine cities and building a growing pipeline:

“The difference with studying at New Energy Academy is that you have more confidence in taking on solar installation projects… It’s not only a great training experience, but it’s also beneficial if you want to learn how to start a business.” — Jimmy Ricohermoso, Founder, SolarXEnergy

Liberate Minerals wins Supercharge Australia Innovation Challenge #3.

2. Battery and storage innovation are unlocking new market potential

Energy storage is forecast to reach 123 GW globally by 2026, about 33 % higher than in 2025. Storage and recycling innovations are critical to balance intermittent renewable output and reduce environmental impacts.

Why it matters for founders

Startups improving battery efficiency, flexibility, or recycling can access high-demand markets and partner with utilities, investors, and corporates. In Australia, the Supercharge Australia Innovation Challenge supports entrepreneurs with mentorship, investor exposure, and corporate partnerships. Renewable Metals used the program to accelerate their breakthrough recycling technology, which recovers over 95 % of materials at lower cost without toxic byproducts:

“[The Supercharge Australia Innovation Challenge] has created great momentum for our current capital raise.” — Luan Atkinson, CEO, Renewable Metals

Ima Rida, founder of Magi Farm, handles compost made by Black Soldier Fly larvae.

3. Inclusivity in clean energy is driving innovation and impact

Inclusivity is increasingly being recognized as a strategic priority in clean energy. Women only make up about 32 % of the renewable energy workforce globally, and remain underrepresented in technical and leadership roles. Diverse and inclusive teams enhance innovation, decision-making, and adoption of new solutions.

Why it matters for founders

Inclusive entrepreneurship opens new markets and strengthens networks. Through various programs, New Energy Nexus Indonesia supports women entrepreneurs in the country—providing mentorship, funding, and community support to women-led startups. Magi Farm scaled its food waste upcycling solution through this network, reducing emissions and creating community impact:

“This collaboration with [NEX] has expanded our network. This chain of networks is valuable to us, allowing us to connect with stakeholders, catalyze progress, and achieve even more together.” — Ima Rida, Co-founder & CMO, Magi Farm

In August 2022, the first batch of TCL solar-powered low-carbon campuses was established in Xixiang County, Hanzhong, Shaanxi. This project is showcased on the Small Money, Big Change casebook.

4. Financial innovation is expanding clean energy access

High upfront costs remain a major barrier to solar adoption. Innovative financing models and institutional capital flows are essential to scale deployment. In the Asia Pacific region, more than two-thirds of green bond proceeds go to renewable energy and energy-efficiency projects, while blended finance attracts private investment where local capital is limited.

Why it matters for founders

Entrepreneurs can use innovative finance models to expand market access and scale quickly. New Energy Nexus China’s report Small Money, Big Change shows how modest, targeted investments can unlock larger funding flows and deliver outsized impact, giving founders practical pathways to attract capital, reach underserved customers, and build financially sustainable businesses.

Download the report here.

Be in the driver’s seat of the clean energy shift in 2026

Clean energy in 2026 and beyond will be defined not only by technology but by how founders build inclusive, scalable, and financially innovative solutions. Renewable growth, storage innovation, diversity, and smart financing create opportunities across the ecosystem. With the right skills, networks, and programs like those offered by New Energy Nexus, founders can scale impact and shape the energy transition while building resilient businesses.

Ready to kick off an even stronger 2026? Explore how we can back your clean energy solution today at join-nex.co/programs.

As Pakistan’s climate tech boom accelerates, entrepreneurship is pushing it even further. Founders across the country are turning real community challenges into practical climate tech and resilience solutions.

Their work follows a historic market shift: in the first half of 2024, Pakistan imported over 13 GW of solar panels, a surge that could bring the country ahead of its 2030 renewable energy targets (The Great Solar Rush in Pakistan, 2024). But scaling this transition will require more than panels; it demands innovators who can tailor technologies to local needs.

That’s why New Energy Nexus and Renewables First launched Climate Innovation Pakistan (CLIP): a national platform designed to support climate tech founders, build a skilled clean energy workforce, and strengthen the policies that unlock long-term impact.

“Pakistan’s startup ecosystem must urgently propel the climate tech vertical, as the need for locally developed solutions has never been more critical,” said Zeeshan Ashfaq, CEO of Renewables First. “Through our collaboration with New Energy Nexus, we aim to demonstrate that with appropriate support, investing in climate tech is both essential and economically viable.”

CLIP’s mission is clear – equip founders with the tools to shape a cleaner, more resilient economy, and ensure Pakistan’s climate tech momentum becomes a long-term engine for growth. And it starts with the first-ever CLIP Incubator.

The Clip Incubator journey. Image from Climate Innovation Pakistan

Why the CLIP Incubator Matters

The Incubator is a 12-week, equity-free program helping entrepreneurs validate products, run pilots, refine business models, and connect with investors and partners across Pakistan. It’s built for startups working in the country’s realities, where infrastructure, affordability, and community impact matter as much as technical performance.

“Pakistan is the world’s fifth most populous nation, with its largest industries in high carbon-emitting sectors… Here lies an immense opportunity to ignite the development of groundbreaking climate tech innovations,” said Stanley Ng, Global Partnerships Director of New Energy Nexus.

The CLIP Incubator’s first-ever cohort.

These 11 startups comprise the Incubator’s inaugural cohort, representing the ambition and ingenuity behind the country’s climate innovation wave. Meet them below.

Nimbus Labs

The Problem
Pakistan faces severe gaps in weather monitoring and forecasting. Extreme events disrupt lives and livelihoods, but limited infrastructure prevents accurate early warnings.

The Solution
Nimbus Labs deploys AI and IoT-driven weather stations and machine learning models, powered by low-cost sensor networks, to deliver hyper-local precipitation nowcasts and medium-range forecasts. Their systems strengthen climate resilience and support data-driven decision-making for agriculture, cities, and disaster response.

The Founder
Sarwan Shah is an electrical engineer specializing in Embedded Systems and Machine Learning. His experiences – from founding the Karachi Water Project to Fulbright research and award-winning embedded systems – led him to start Nimbus Labs, aiming to improve Pakistan’s weather monitoring and forecasting infrastructure.

Power Sodium

The Problem
Energy storage in Pakistan remains dependent on expensive lithium imports or polluting diesel generators.

The Solution
Power Sodium builds next-generation sodium-ion and sodium–lithium hybrid batteries with long cycle life and ultra-fast charging, providing clean and reliable power for telecom towers, microgrids, data centers, and renewable energy systems.

The Founder
Ahmad Ghauri brings expertise in aerospace engineering, R&D, and clean energy project management. He co-founded Power Sodium to develop sustainable, locally-manufactured sodium-ion and hybrid batteries that reduce reliance on imported or polluting energy storage systems.

PakPlug’s app interface. Screenshots from PakPlug

PakPlug

The Problem
EV adoption is constrained by a severe shortage of public chargers, despite thousands of unused private chargers across cities.

The Solution
PakPlug allows homeowners to list chargers, while EV drivers book and pay through the app. Their QR-enabled smart switch ensures secure access, accurate metering, and reliable payments — unlocking affordable charging where it’s needed.

The Founder
Roha Rehan, an Electrical Engineering graduate from LUMS, founded PakPlug to make EV charging accessible and community-driven. Her team leverages technical and strategic expertise to connect private chargers with EV users across Pakistan.

Nayab Raza, Founder of Algaverse. Photo from Algaverse

Algaverse

The Problem
Farmers depend heavily on chemical fertilizers that degrade soil, raise input costs, and worsen emissions.

The Solution
Algaverse’s bio-fertilizers offer a climate-resilient, lower-cost alternative aligned with global soil restoration goals, helping farmers improve yields while reducing synthetic fertilizer use.

The Founder
Nayab Raza, a PhD candidate in Environmental Biology at the University of Manchester, founded Algaverse to develop CO₂-capturing bio-fertilizers. Her goal is to provide farmers with sustainable, low-emission alternatives that improve soil health and reduce dependence on chemicals.

SustainAgro by Verdora Ventures

The Problem
Pakistan faces water scarcity, pesticide overuse, and reliance on imported produce.

The Solution
Verdora’s modular greenhouses use climate-smart irrigation that cuts water use by 90%, reduces pesticides, increases yields, and localizes production of crops like cherry tomatoes. This lowers the costs for consumers and businesses.

The Founders
Syed Mahd has over a decade of experience in strategy, investments, and project management. At SustainAgro by Verdora Ventures, he works closely with Asad Shamsi, a finance and strategy professional with expertise in research, consulting, and FMCG. Together, they are integrating climate-smart agriculture practices to improve sustainability and productivity in Pakistan’s horticulture sector.

Pani Express

The Problem
Unreliable municipal supply forces cities to rely on informal tanker operators, which results in waste, high emissions, and inconsistent pricing.

The Solution
Pani Express uses mobile ordering, IoT water-level sensors, and optimized tanker routing to reduce water waste, improve reliability, and provide fair pricing – all while lowering emissions and supporting local livelihoods.

The Founder
Ali Yar draws on years of operational, finance, and HR experience in startups to build Pani Express, a smart water logistics platform. His mission is to make urban water delivery reliable, efficient, and climate-conscious.

Moiz Bhatti presents at an investor summit. Photo from Moiz Bhatti via LinkedIn

EPO (Environmental Productivity Organization)

The Problem
Water scarcity and rising energy costs threaten agricultural productivity in Pakistan.

The Solution
EPO’s closed-loop farming systems use renewable energy and recycled water to produce consistent, high-quality crops while reducing water and energy consumption, offering a resilient solution in water-stressed regions.

The Founder
Moiz Bhatti, an environmental advocate and founder of National Incubation Center Islamabad, co-leads EPO with a team of environmental scientists. They focus on AI-driven solutions for efficient, sustainable urban and agricultural productivity.

MycieBlue

The Problem
Plastic pollution is growing, and sustainable alternatives are either costly or hard to access.

The Solution
MycieBlue produces compostable, lightweight materials using mycelium grown from organic waste, offering low-carbon solutions for packaging and future construction applications.

The Founders
Yumna Ali, an architect and environmentalist, is advancing regenerative biomaterials through mycelium, turning waste into nature-inspired products. She partners with Ameerah Rizwan, a product and interaction designer who brings user-centered design and community insight. The architect–designer pair is pioneering mycelium-based materials and accessible bio-design research in Pakistan.

Commercial deployment of 500 Ecobricks Eco-Tiles at F9 Park, Islamabad. Photo from Ecobricks

Ecobricks

The Problem
Millions of tons of plastic end up in landfills or incinerators due to a lack of recycling infrastructure.

The Solution
Ecobricks transforms hard-to-recycle plastics into construction materials supported by AI quality control, reducing waste and enabling circular construction practices.

The Founder
Kashaf Akhtar leads Ecobricks, a team with deep expertise in engineering, AI, and business development. Their focus is on converting difficult-to-recycle plastics into durable, environmentally-friendly building materials.

Screengrab from the Greenova8 website

Greenova8

The Problem
Only large investors typically fund solar and wind projects, leaving everyday citizens out.

The Solution
Greenova8 tokenizes renewable projects, allowing small-ticket investments with real-time tracking. Smart contracts automate payouts, while carbon credit monetization strengthens returns.

The Founder
Ibrahim Afridi started Greenova8 to democratize renewable energy investment using blockchain. He aims to give everyday citizens access to solar and wind projects through fractional ownership.

Recycle Bin

The Problem
Mixed waste contaminates recyclables and sends valuable materials to landfills.

The Solution
Recycle Bin offers digital door-to-door collection with a rewards system, sending materials to verified processors, reducing landfill use and emissions.

The Founder
Adeela Ali, a pharmacist turned entrepreneur, founded Recycle Bin to solve local waste management challenges through technology. She applies her scientific and analytical skills to create scalable, sustainable solutions.

From left: Zeeshan Ashfaq, CEO of Renewables First, and Stanley Ng, Global Partnerships Director at New Energy Nexus

Building Pakistan’s climate future, and taking it global

The founders joining the first CLIP Cohort reflect Pakistan’s growing role in the clean energy transition, and the power of local innovation to reshape a national drive toward a more sustainable future.

This is exactly the kind of work we’re supporting at New Energy Nexus. We’ve backed more than 10,000 clean energy entrepreneurs worldwide. Through CLIP, we’re expanding this mission in Pakistan: helping founders scale solutions, build resilient businesses, and contribute to a cleaner, more inclusive economy.

Pakistan is having a historic climate and clean energy moment. Now it’s time to turn this momentum into long-term transformation, powered by entrepreneurs who understand Pakistan’s needs and are ready to build solutions the world can learn from.

Ready to scale your innovation in Pakistan and beyond? Visit climateinnovate.pk for more climate tech opportunities and updates.