Clean Growth Fund launched

21st May 2020

The government is launching the Clean Growth Fund to support green start-up companies across the UK to develop the next generation of clean, low-carbon technologies.

  • Government to contribute half of initial £40 million fund pot together with one of the UK’s largest charity investors, CCLA to be managed by Clean Growth Investment Management (CGIM)
  • Fund could reach £100m by 2021 with additional private sector investment

The Clean Growth Fund will help towards the UK’s plans to reach Net Zero by 2050 and will be accessible to UK-based companies driving green technology across the power, transport, waste, and building energy efficiency sectors.

Potential examples of projects the fund could support include:

  • energy storage and smart grid systems to bolster resilience in the power system
  • renewable heating and ventilation technologies across homes and commercial buildings
  • bio-fuels and bio-energy systems

The Fund is seeking to make investments at early stage, seed or Series A rounds in innovative clean growth start-ups. It will invest in businesses with a prototype product or service demonstrating a clear contribution to reducing greenhouse gases, together with compelling evidence of market demand.

The Fund is now seeking wider private sector investment and will aim to balance its portfolio across clean growth sectors.

Investment parameters for the Fund focus on clean growth technologies, hardware, products and services in sectors including power generation, waste, energy networks, buildings management, industries, bioenergy and alternative fuels.

For details on R&D Tax Credits, innovation or other forms of grant funding, contact Ewan McClymont, Grants & Business Development Director, on 03333-219000 or email emcclymont@bishopfleming.co.uk

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