In June 2018, the then Minister of Trade and Industry, Rob Davies, confirmed the designation of the Atlantis Special Economic Zone (ASEZ) and the approval of cabinet in writing to the then Western Cape Minister of Economic Opportunities, Alan Winde. The designation sees the Atlantis Industrial area being declared a Special Economic Zone for Greentech manufacturing .

Greentech refers to green technologies that reduce or reverse the impact of people on the planet. This includes renewable energy technologies. Wind turbines, solar panels, insulation, biofuels, electric vehicles, materials recycling and green building materials are all examples of greentech.