Wales well represented in first Net Zero cohort
AGROWTH platform for techcompanies and leaders has announced the 30 scale-ups selected to join the new Net Zero programme.
Among the cohort of companies was the Newport-based Surple, as well as Sero and Route Konnect, both in Cardiff.
Announced by Alok Sharma at LondonTechWeek, the companies come from across the UK and span 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 start-ups 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 scale-ups.
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 and co-founder of Route Konnect, said that building relationships and forming connections is the key 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.”
Surple CEO and founder Peter Allan agreed, saying the UK needs to think differently to get to net zero and is glad to be involved in a group of start-ups 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 under way. The Net Zero Report, released this week, said 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 £336m. This was 55% more than France, which received £216m, and 18% more than Germany (£283m). VC investment in net zero in the UK has grown by 28% from 2018-19.
The report identified 323 net zero companies in the UK, compared to 207 in France and 150 in Germany.
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.
The programme 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 London. Wales accounts for 10%, with 13% based in Scotland.