New £40 million Clean Growth Fund to supercharge green start-ups

A new £40M fund to invest in the UK's most promising early stage clean growth ventures was today announced by the Department of Business, Energy & Industrial Strategy (BEIS) and CCLA as part of an initiative supported by UCL academic, Professor Chris Rapley CBE. The Clean Growth Fund will invest in the UK's most promising early-stage "clean growth" companies pioneering carbon emission reductions in the areas of power and energy, buildings, transport and waste. It will seek to accelerate the development and commercialisation of clean growth technologies, to create new and skilled jobs across the country, and contribute to the UK's efforts to deliver net zero by 2050. There is a strong market need for new funding to support clean growth companies at the 'early' stage of their development.  BEIS and CCLA want to support and enable an increase in early stage investment in clean growth technologies and solutions.  Partnering public funds with private capital is key for delivering Net Zero and this Fund will show the opportunities available in the clean growth space. Professor Rapley (UCL Earth Sciences), a specialist in climate science, has supported the initiative over the last five years by advising on science matters related to the climate crisis and the need for clean growth.