Energy Technology Market Overview
Energy technology refers to a diverse set of products, services, and processes that utilize or result in the utilization of energy and other natural resources in cleaner, more efficient and more cost effective ways, all while delivering higher performance.
Energy technology markets include the world’s largest industries such as power, oil and gas, chemicals, agriculture, automotive, homeland security & defense. The global market opportunity for energy technology is estimated to be greater than $280 billion per year, and is projected to grow by 20% annually to over $1.3 trillion by 2017, representing one of the largest and fastest growing markets in the world.
As the #1 state for industrial R&D nationally, Michigan has the resources and potential to be a leader in energy technology research and development. As a global leader in manufacturing Michigan also has the infrastructure and market presence to commercialize technologies and bring innovative products and services to the global market.
Energy technology covers a broad spectrum of technologies ranging from advanced battery materials and software control technologies for automotive applications to more efficient materials and software for alternative energy technologies and manufacturing.
HRV invests in the following sectors:
Energy Technology – Technologies that result in more efficient production, distribution, storage or use of energy resources and infrastructure
Cleanweb– Technologies that uses information technology, the Internet, and social media to address the issues of energy, transportation, and smart grid
Smart Transportation – Advanced applications and technologies that provide innovative services that enable users to make safer, more coordinated, and ‘smarter’ use of transportation networks