Let’s accelerate clean tech

Hi all!

According to the Massachusetts Clean Energy Center (MassCEC), Massachusetts needs 38,100 workers to transition to a clean energy state.

Their webinar forecasts thousands of new jobs by 2030 to meet the state’s decarbonization goals. But as of now, we don't have workers trained and ready to work on climate-critical jobs. Specifically, labor jobs are in high demand.

The State of Manufacturing

Our friends at EPE Components provided an update on the latest supply situation in the electronics industry:

Despite some initial uncertainty, inventory corrections are actively underway. Lead times have shown significant improvements, though there are still some cases where lead times continue to increase.

The automotive industry, which has long been burdened by extended lead times, is now witnessing promising signs of improvement, although certain constraints with sensors still persist.

Most IC growth is now centered on AI demand. However, there are some indications of a return to most market demand increases in the 2nd half of 2023.

Will a return of IC demand and growth see the return of component shortages and longer lead times? We think it's better to prepare now for the uncertain days ahead.

The Manufacturing PMI Index remains below the breakeven line, with July registering 0.4 points higher than in June.

Imports are slowly recovering, but Customer Inventories continue to grow, with eight industries reporting them as "too high".

Where are clean energy technologies manufactured?

When looking at where clean energy technologies and their components are made, one thing is very clear: China dominates the industry. Along with the rest of the Asia Pacific region, it accounts for approximately 75% of global manufacturing capacity, based on the IEA’s 2023 Energy Technology Perspectives report.

Massachusetts companies faced a 34% decrease in venture capital funding compared to the same period in 2022, with $8.3 billion raised in the first six months of this year, according to a new PitchBook-NVCA report. They also raised $3.9 billion in Q1 this year and $4.4 billion in Q2, so not everything is bad news!

100 Boston-area restaurants will have robots as waiters. Solgud Robotics, members of the January batch at Harvard Innovation Labs, is giving restaurants the opportunity to test robotic food carriers.

AllSpice Inc. raised approximately $6 million in equity. AllSpice is a hardware collaboration platform inspired by software development principles.

Calling all early-stage healthcare robotics startups! The applications are open for the Healthcare Robotics Startup Catalyst, presented by MassRobotics.

Apply here by September 9th

Secure your spot for the RoboSource, the ultimate showcase of the MassRobotics Associated Network and Partners, on August 10th at Venture Cafe Cambridge.

Pre-register here.

Apply now to the new MassChallenge Human Potential Sprint. The sprint is aimed at startups building solutions that extend the limits of human performance mentally and physically. Applications will open on August 14.

The Massachusetts Innovation Network and Vision Advertising's COO, Julia Becker Collins, are offering a free webinar to go over the basics of how social media should factor in business.

The meeting will happen on Thursday, Aug. 24th via Zoom and you can register here.

For 2023, we decided to switch up our process and provide Startup Spotlights each month on the best Startups with Hardware content in Boston.

If you know an exciting Startup that deserves a Spotlight, please send a brief message to Hello@newpageassociates.com, and we will consider them.

Altus Thermal is rethinking energy use in the home to deliver higher efficiency, greater comfort, an improved user experience, and increased benefits to the electrical grid.

Founded in 2019, they develop a smart, high-efficiency hardware product for the residential market.

Leveraging heat pump technology, Altus’s product increase comfort reduces emissions and operating costs and provides benefits to the electrical grid.

The technology is intended to electrify residential heating, cooling, and domestic hot water. The company provides services by maximizing performance and allowing for better integration with intermittent renewables and other distributed energy resources, enabling residents to efficiently and cost-effectively electrify their homes.

Click here to learn more about Altus Thermal.

In our July survey, we asked about the additional steps your company has taken to detect potential violations of modern slavery.

Almost 20% responded that writing or updating a modern slavery statement was their way to go, while 18% said that they are carrying out a risk assessment on existing contracts and suppliers.

As economists and industry experts have been discussing a potential economic downturn and a worldwide decrease in venture capital funding, companies are taking proactive measures to minimize the effects on their companies.

Apple has developed its own AI model, Ajax, and used it to create a chatbot. Apple hasn’t decided how to release the tech to consumers yet. AppleGPT

(Source: Bloomberg)

The next generation of EV batteries will feed energy to your home: Electric vehicles can now power your home for three days.

To make your day better: check out the finalists for the Comedy Pet Photography Awards. Can'tDecideTheWinner

Cheers,

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