Air Purification: Clean Tech Eyes Solutions as Risks Rise
Contents
Introduction
Efforts aimed at cleaner air increase
Market forces
Companies, governments lead efforts
Segments
Residential, business
Market movers
Leaders & fast followers
Investors
VC / PE / Funds
Efforts aimed at filtering air rise as warnings grow
Industrial and residential initiatives increase
Breathing may be hazardous to your health.
How’s that for a public service message?
We’ve reached the point where all but 1% of the world’s population is breathing dirty air, according to the World Health Organization. Whether outdoor smog from traffic or indoor smoke from cooking fires, contaminants in our air increase the risk of heart disease, stroke, and other illnesses. Air pollution has become the top environmental health risk humanity faces, the WHO says.
Beyond human health, air pollution contributes to global warming, which alters weather around the planet, shifting rainfall patterns and cutting the effectiveness of solar power. In India and China, both the intensity and distribution of rainfall have been linked to particulate matter pollution and studies have shown a 25% loss in solar energy yield due to the presence of smog.
The response from most of us is to throw our hands in the air. But not everyone. As the need for innovation to combat air pollution soars, cities across the world are transforming through urbanization and efforts to become “smart.”
International and national policy initiatives aim to improve and safeguard air quality, such as the UN’s Clean Air Initiative, the EU Clean Air Forum, and the new WHO Global Air Quality Guidelines. Governments are boosting funding into technologies that go beyond clean electrification and energy efficiency and towards direct air capture to mitigate climate change.
Industries are also making progress on the adoption of carbon reduction strategies. However, these efforts will not be enough to meet targets of the Paris Agreement, and additional measures are necessary to improve air quality.
Innovations in air purification, which primarily removes or reduces contaminants in the air, can be key, complementary initiatives to reduce air pollution and its damaging impacts. Increasingly popular air purification technologies are promising approaches to the air quality crisis.
“More governments are introducing policies to improve air quality but barriers to progress include slow implementation and capacity gaps.”
Source: United Nations’ Pollution Action Note
Market Trends: Companies, Governments Lead Efforts
Facts, figures, forces
Market Forces
Covid 19 fears appear to be boosting air purifier sales, as consumers search for more information.
Filters can be retrofitted into old buildings or incorporated into new buildings’ construction.
Industrial purification filters remove particulate matter and pollutants like nitrogen dioxide, sulfur dioxide, carbon dioxide and volatile organic compounds, and are recyclable.
Traditionally the market has focused on filters which remove particulates such as dust and pollen. There is now greater market interest in systems capable of removing microbes and VOCs.
Market facts
High costs are a major hurdle for air purification technologies, however private investment appears to be on the rise:
Major investments come from big oil and gas companies looking to diversify beyond their traditional business lines as a hedge against a future where extractive processes are no longer viable.
Direct Air Capture (DAC) technologies are available at much lower costs and can also help investors take advantage of carbon capture policies, such as the U.S.’s 45Q tax credit for carbon capture and sequestration.
Market Figures
The Biden administration provided $350 billion for state and local governments and $122 billion for schools to improve air quality through ventilation and filtration.
Smart city infrastructure includes air purifier technology linked to pollution sensors and maps, that allow real-time measurement of the impact of reducing air pollution.
Early stage companies creating urban air purification systems are seeing increased government support.
Investment Opportunities
Investment appears solid, particularly among startups focusing on carbon capture and new air purification technologies. Venture capital firms continue to invest in the industry as it is expected to dramatically grow in the next 10 years. The now growing company, Molekule, has been receiving generous investments since 2020 to further develop their air purifying technology. Firms like the Foundry Group, The Alexa Fund and Amazon have partnered with the company to foster its growth and reach to the public.
Market Segments: Home, Business/Industrial
Business/Industrial Market
The world’s most populated cities are thick with smog and harmful pollutants. With increasing evidence suggesting people in cities with high air pollution are more likely to be exposed to COVID19 and similar airborne viruses, the global demand for access to clean air in the near future is rapidly increasing.
The Smog Free Tower: cleans 30,000 cubic meters of polluted air per hour, using a small amount of green energy and the ENS’ patented positive ionization technology to capture fine dust and transform it into coarse dust. Other similar projects include the Xi’an Tower and the two Smog Towers in Delhi.
Smog Free Tower
Residential Market
The technological innovation in the air purification sector is largely concentrated within the consumer market. This market segment had a drastic growth in 2020 due to the rise in demand whilst the Covid 19 pandemic struck. Air purifiers are becoming more accessible, stylish and energy saving as they continue to gain popularity.
Air Purification's Impact
Air purification amplifies the impact of green buildings in smart cities through neutralizing harmful emissions using mechanical, biological and chemical filters. Positive impacts include:
Economic savings of more than $1.5 trillion a year from reduction of untimely deaths and disease burdens.
Enabling the reallocation of resources by healthcare systems to address other conditions.
Reduction of impairments to childhood cognitive development caused by poor air quality.
Slowing the progression of climate change through reduction of GHG emissions
Market Movers: Current and Future Heavy Hitters
Market Movers:
Whirlpool Corporation: has HEPA filters that remove 99.97% of particles in the air. Their expected growth for 2022 is 8.5%
Philips: manufactures air purification filters with additional HEPA filters that add to efficiency and protection. In 2021, the company was expected to grow at a rate of 12.8%.
Carrier Global: released a line of air purifying filters for residential use following the Covid 19 outbreak. The company was expected to grow at a rate of 15.7% in 2022.
Johnson Controls: offers a wide range of filtration systems that are used in commercial and residential areas. Their expected growth rate in 2021 was 12.5%.
3M Granules: used in rooftop shingles, generate radicals that bind with chemicals in smoggy air, and transform them into water-soluble ions that eventually wash away due to their photocatalytic coating activated by the sun’s UV rays.
Future Heavy Hitters
Airlite paint: purifies polluted air in a process similar to photosynthesis. When the paint is exposed to sunlight, the surrounding air is oxygenated through a chemical reaction. The paint was used to create the Absolute Street Trees project in Mexico City.
Green City Solutions: builds mossy living walls and is the world’s first intelligent biotech air filter. The wall is made of a variety of moss types that naturally absorb pollution. The moss is sheltered by shade-giving plants, allowing it to thrive in an otherwise hostile urban environment.
Molekule: uses photoelectrochemical oxidation (PECO) and addresses air contamination issues by oxidizing and removing organic particles, especially indoor allergens.
Oransi: produces high-efficiency particulate air (HEPA) purifiers, which absorb and filter out allergens, spores, pollen, dust, pet dander, and other indoor particles; mainly preferred by people with allergies or asthma.
Air0: manufactures activated carbon purifiers to eliminate smoke, odors from kitchens, cigarettes or pets, and gases such as radon, chlorine, and volatile organic compounds.
Wynd: uses electrostatic precipitators (ESP), which are a low-maintenance air purification alternative. They use an electrostatic charge to capture pollutants on internal plates that are capable of removing dust, mold, smoke, and pollen.
Teqoya: produces ionic filters or air ionizers to bind dust, pollen, microbes, and odours. The air purifiers are developed for homes, offices, and large indoor spaces. Their patented technology uses ionic wind and does not generate any noise or ozone.
Venture Capital/PE and Other Fund Investors
Foundry Group: Seed and Series A investment focused VC firm supporting technology companies. In February 2020, Foundry partnered with a number of VC firms to provide $58 million in funding Molekule.
Uncork Capital: Seed-stage VC firm with ~$500 million AUM. Currently invests out of two funds: Uncork VI for seed companies and Opportunity Fund for more mature companies, also helped finance the Molekule.
Crosslink Capital: Leading early-stage VC firm with over $2 billion AUM and invests in both private and public companies across all industries.
TransLink Capital: TransLink invests in seed, early, and expansion stage U.S. and Asian technology companies with a primary focus on Series A funding.
Final Thoughts
Air purification is a good complementary action to the efforts made towards reducing air pollution. However more needs to be done at a large scale as deaths increase and smog consumes cities.
It is also important to consider that many upcoming technologies might pose concerns to human health as rapid demand is trying to be fulfilled. Some studies have shown that ionization of particles might be creating a harmful byproduct. Research and development , as well as government, should also foster clear and accessible information to consumers.
Green City Solutions moss for filtration