3 of 30 cohort are GAS portfolio companies
The 30 companies joining Net Zero 1.0 - Tech Nation include AirEx, Naked Energy and Zeigo, all GAS portfolio companies as well as Spark EV, currently in due diligence.
For the full list click here.
Today Tech Nation has announced the 30 companies (and 4 fellows) chosen to join Net Zero 1.0. The Net Zero growth programme is the very first in the world to focus on sustainable, carbon conscious companies that are helping the UK work towards achieving its goal to be net zero by 2050.
The announcement of the cohort, which includes 3 GAS portfolio companies, coincides with the release of the Net Zero Report, which takes a closer look at the state of net zero tech within the UK, and within the global context.
Business and Energy Secretary Alok Sharma said: “As part of our plan to reach net zero emissions by 2050, we are funding green startups and unleashing the talent and creativity of entrepreneurs across the country.
“Innovative companies like these will help us to create green jobs and build back better as we recover from the coronavirus pandemic.”
Gerard Grech, Chief Executive, Tech Nation, comments: “The UK’s net zero sector already leads Europe for VC investment, at £336mn, and is home to 323 tech companies that are working hard to reduce carbon emissions globally. Scaling such businesses can be hard, which is why we are delighted to launch a new programme focused on businesses at this stage of growth from all over the UK, especially given the impact they will have on climate change and their drive towards a net zero economy.”
Tech Nation is also delighted to announce that BNP Paribas will be supporting Net Zero 1.0 as the headline sponsor.
Anne Marie Verstraeten, UK Country Head, BNP Paribas, commented “Supporting Net Zero in the UK requires collective mobilisation, and clean tech solutions are a vital part of accelerating the energy transition. As a bank supporting the transition to a low carbon economy, we have a responsibility to connect our ecosystem of clients and innovative scaling companies at the forefront of developing technologies that tackle environmental challenges. This partnership with Tech Nation highlights the power of coalitions that is essential to scaling up climate action and creating a fairer, greener and more resilient world.”
The Net Zero Report
If the UK is to achieve net zero by 2050, a lot of the work already needs to be underway. Released today, The Net Zero Report shows that the UK already plays a leading role in tackling climate change through innovative technology. In 2019, the UK led Europe for VC investment in net zero companies at £336mn in VC investment. This was 55% more than France which received £216mn, and 18% more than Germany with £283mn. VC investment in net zero in the UK has grown by 28% from 2018 to 2019.
The report has identified 323 net zero companies in the UK, a notable amount when compared to 207 in France (35% less) and 150 in Germany (53% less). Furthermore, 37% of UK net zero companies are at an early stage, which shows an impressive pipeline. 26% of UK net zero companies are late-stage, which highlights the immense growth already happening to meet emission targets. However, while big strides are being made, there is much to be done.