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A dynamic ecosystem for sustainable innovation

27. February 2024

Austria is experiencing a remarkable upswing in its green tech sector, driven by a strong network of companies, research facilities and forward-looking initiatives.

Prestigious institutions such as AEE INTEC, Austrian Institute of Technology (AIT) and the Green Energy Lab are at the forefront of the progress being made. Together they are paving the way for groundbreaking sustainable technologies.

More than 2,700 companies in the industry generate annual revenue of € 15.24 billion and a 6% growth rate p.a., featuring an export ratio of 71.8%. These figures not only showcase the international significance of Austria’s green tech industry but also its competitiveness. 

Austria has assumed a leading role in eco-innovation and sustainable development, bolstered by a high research and development intensity and a pronounced export orientation. Special mention should be made of clusters such as the internationally renowned Green Tech Valley, which has gained a reputation for its partnerships and innovations. In this regard Austria has demonstrated outstanding achievements in areas such as research efficiency, renewable energies, and the circular economy. Funding programmes and research initiatives such as the COMET programme make a decisive contribution towards the development of innovative technologies and clear the way for climate neutrality. 

One of the innovation trailblazers in Green Tech Valley is SynCycle Operations GmbH, which impressively demonstrates how valuable oil can be extracted from plastic waste. The innovative pyrolysis technology which converts the plastic waste into oil at a temperature of around 500°C, is not only a milestone in waste recycling but also paves the way for a sustainable future. 

This dynamic connection between research and industry, promoted by strategic investments and a committed innovation network, propels development and positions Austria as an attractive business location for green tech investments. With initiatives such as the Climate Lab bringing together interdisciplinary teams to work on sustainable solutions, Austria confirms its role as a trailblazer in global climate protection efforts and sustainable development.  

Read more about green tech/clean tech in Austria 

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