A growth platform for tech companies and leaders has announced the 30 scaleups selected to join the new Net Zero programme.
Among the cohort of companies was the Newport-based Surple, and Sero and Route Konnect, both in Cardiff.
Announced by Alok Sharma’s at London Tech Week, the companies come from across the UK and across a range of sectors including construction, agriculture, and energy.
Mr 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."
The UK government-backed initiative is the first of its kind, designed to accelerate the growth of the UK’s most promising Net Zero scaleups.
Sessions will include quantifying sustainability, navigating the regulatory landscape, and how to internationalise a Net Zero business.
James Williams, co-founder and managing director at Sero, said: “We're excited to interact with companies building solutions to the climate crisis and learn from the companies that have created great solutions in other industries.”
And Mohamed Binesmael, CEO & co-founder of Route Konnect, said that building relationships and forming connections is key the to unlocking opportunities for all involved.
"Without talking, we do not get the opportunity to get to the heart of what bothers people," he said.
"We're most excited about the opportunity to connect with a wider network and begin the talking process."
Peter Allan, CEO & founder, Surple, agreed saying the UK needs to think differently to get to net zero and is glad to be involved in a group of startups that are at the forefront of thinking differently.
The programme comes at a critical moment, with Covid-19 highlighting the key role played by technology in aiding a green recovery to the crisis and the importance of building a sustainable future.
If the UK is to achieve net zero by 2050, a lot of the work already needs to be underway. The Net Zero Report, which was released this week, found 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 points to the future. And, 26% of UK net zero companies are late-stage, which highlights the growth already happening.
The companies selected to be on the Net Zero programme cover a variety of subsectors, with the most prominent being associated with some of the most pressing industries when it comes to climate: energy and electricity (23%) and electric vehicle ecosystems (23%). Other subsectors featured are sustainable buildings (13%), waste management and circularity (13%), agriculture and food systems (10%), environmental footprinting, smart cities, supply chain and offsetting.
Susannah McClintock, investment director, Sustainable Ventures, and judge for the Net Zero programme, said: “It is fantastic to see how these exciting UK companies are contributing to the enormous challenge of achieving net zero; the applications showed the depth of innovation and talent in start-ups and early stage working to address climate change through commercial solutions”
The programmes also believes the first Net Zero cohort is evidence of how efforts are coming from every part of the UK, with 57% of the companies being headquartered outside of London. Wales accounts for 10%, with 13% based in Scotland, and 13% in the South West of England. Yorkshire, the North West, the Midlands and East of England also represented.
