Green companies climb out of economic canyon
Monday, July 20th, 2009Cash shortage in any industry is dire news, and is all too frequent in this economy. But local green-tech businesses don’t seem too concerned largely due to Obama’s promise to invest $150 billion in clean tech, and the stimulus package includes tax breaks for consumers who make renewable-energy and conservation investments in their homes. Also, businesses who’ve already developed sustainable technology have a competitive advantage. One example of this is Bob Miller’s company, Earthwise Environmental, Inc., whch began in 1995. Earthwise clients initially saved money by using fewer chemicals and less water. Now, with with a stronger focus on conservation and reducing toxic chemical waste, clients see their value in both economic savings and environmental impact. Miller expects his business to grow 50% in 2009.
Earthwise Environmental’s edge is that the company continually discovers new ways of developing sustainable solutions. To one client, Miller proposed a $225,000 project that would save more than $200,000 a year while reducing water use by 18 million gallons. This system also virtually eliminates toxic chemicals from the treatment process. “If you can give people a two- or three-year payback, they are willing to consider these projects,” Miller says. “But we’re seeing a much longer sales cycle for these green solutions.”
In previous rough economic times, ingenuity saved the day. Now, ingenuity and a green mind can both save the day and sustain the future.
Read more about clean-tech and other green businesses surviving the down economy. It’s the focus of Crain’s Chicago Business and ChicagoBusiness.com for the week of July 20, 2009 on their Web site, here.
