TechNation, the UK’s leading technology development platform, today announced the selection of 34 climate technology companies in Net Zero 3.0 – the third iteration of the Net Zero Growth Programme.
Net Zero 3.0 is the first government-backed program designed to support the most promising climate technology companies to accelerate the UK’s path to net zero. This year’s successful companies were reviewed by over 50 judges from key industries, including climate specialists, investors and senior representatives from companies such as Google for Startups, Sage and BNP Paribas.
Companies are based on their ability and potential to help the UK reach its high priority net zero goal. The selected companies are actively divesting major sectors, from energy and transportation to construction and agriculture.
This year’s Net Zero team shows that tackling climate change is a priority for all parts of the UK. .
The United Kingdom leads Europe in the number of climate technology companies and investment
New data from TechNation and NetZero Insights has revealed that there are over 4,400 climate tech start-ups and stages in the UK. 60% more than the number in France (2,793) and 43% more than in Germany (3,100).
The UK is a European leader in climate technology investment, with 249 climate technology rounds raising a total of $2.6 billion in 2021 – a 63% increase on the $1.6 billion raised in 2020. Technology investment, raising $2.1 billion so far in 2022, will total $2.6 billion by 2021. Growth in the UK’s climate technology sector is showing no signs of being affected by the economic downturn.
Through the first two Net Zero programmes, TechNation has already supported the development of 62 of the UK’s leading climate technology companies. Together with the Net Zero 3.0 Group, these companies have collectively raised over £500mn in VC investment.
Most Net Zero 3.0 companies are operating in the energy sector.
As the UK finds itself in an energy crisis, just over half (17) of the companies that have joined Net Zero 3.0 are working to make the UK’s energy consumption cleaner and more affordable for customers.
Joining this year’s Net Zero 3.0 team, bringing solar power to city homes, integrating solar technology with blackout/security blinds and garage doors, Electric Miles has developed algorithms that accurately measure, collect and convert energy demand from electric vehicles. To balance supply and demand, they are focused on grid stability, sustainability and energy security and Equiwatt supports the transition to renewables.
Engineering algae to reach net zero
With scientists recently declaring algae a ‘climate superpower’, as microalgae grow 10 times faster than plants on Earth and can absorb 10-50 times more CO2, UK climate technology companies are looking at how they can take advantage. Algae to help the UK reach its net zero goals.
For the first time, TechNation’s Net Zero program is welcoming 3 algae engineering companies to the Net Zero 3.0 team, demonstrating the plant’s versatility in the various ways they are using it to lead sustainably.
Kelpie is using algae to create packaging that is completely biodegradable, PhycoBloom is engineering algae to create sustainable biofuels, and PhycoWorks is using artificial biology and machine learning to produce algae at scale, which greatly increases carbon sequestration.
Net Zero 3.0 Mission
Encouraging all these climate technologies Tech Nation’s mission is to support UK tech companies that are shaping our world for the better. As 40% of emissions reductions are based on technologies at mass market scale, it is important to support the growth of these companies and the Net Zero program to realize their potential to significantly reduce global emissions. Over the past two programs, companies that are part of the Zero Program have grown nearly three times as much as the rest of the climate tech industry, underscoring the value the program provides.
Over the next 6 months, every company in Net Zero 3.0 will be given unparalleled long-term investment opportunities, education, talent, exposure and a platform to influence green policies and create the right conditions for growth.
TechNation is proud to be a founding member of TechZero, an organization of tech companies of all sizes and levels, whose TechZero pledge recently surpassed 345 signatories. TechNation is also committed to reducing its own carbon footprint, measuring and publishing an annual sustainability report.
TechNation is delighted to announce that this year’s Net Zero program will once again be supported by headline partner BNP Paribas and program partner Sage. These organizations provide invaluable support, expertise and insights to the Net Zero 3.0 community.
“Climate innovations are needed in every key industry to change the trajectory of global emissions, and we’re proud to have companies breaking ground in every critical area of our Net Zero program,” said Sammy Fry, Net Zero Program Leader at TechNation. We are also delighted to see climate technology reach new heights despite a challenging economic context, demonstrating the resilience and confidence in the sector. Now in its third year, our Zero Program looks forward to continuing to advance climate technology and providing these companies with the support they need to reduce and reduce global emissions.
Pippa Gawley, founding partner at Zero Carbon Capital and a Net Zero 3.0 judge, said: “TechNation’s Net Zero program provides valuable support to UK climate technology companies looking for constructive advice, wireless mentorship and a place to share with co-founders. As they face the challenges of growing their companies, I’m excited to work with this year’s amazing line-up.
Mayank Girdhar, co-founder of Upspark and Net Zero 3.0 judge, said: “The Net Zero 3.0 program brought together the best of UK climate technology this year. These 34 startups are truly expanding the global boundaries of business and technological innovation on the road to zero. I am thrilled to see their great potential emerge and accelerate through the incredible resources and invaluable network of peers, partners, mentors and investors provided by TechNation. It’s an honor to be part of the TechNation community supporting such important work and amazing founders on their journey to solve climate challenges.
Octopus Ventures Investor and Net Zero 3.0 Judge Natasha Jones said: “TechNation’s Net Zero 3.0 program is at the heart of the UK’s climate tech community. It brings together founders across multiple verticals united by one central mission to combat climate change. It’s an exciting and inspiring program to be a part of and I can’t wait to see these businesses grow from strength to strength over the next six months.
John Coker, General Partner and Founder at Ica Ventures and Net Zero 3.0 Judge, said, “This is my third year participating in the Net Zero program, and it’s amazing to see the quality of amazing entrepreneurs in each group. They are building inspiring technology companies focused on solving one of the biggest challenges facing society today.
Shane Milley, founder of Bright Blue Hare and NetZero 3.0 Judge, said: “Why is TechNation’s NetZero program so important? It’s not just the practical mechanics of the development program – it’s the visibility that all applicant organizations get with a diverse group of mentors.” But importantly, from being part of a nationally and internationally recognized initiative, individual companies benefit, but so does the entire climate technology sector – and society – as well.
Jamie Rowles, co-founder and managing partner at Planet Fund and a Net Zero 3.0 judge, said: “I’m impressed by the level of climate tech startups developing new science and technology. Retool every industry to Net Zero. It’s exciting to have a front-row seat to watch this next batch of companies!”
“I have been a judge of the Net Zero program since its inception,” said Cansu Denise Bayrak, senior partner at Bethnal Green Ventures and Net Zero 3.0 judge. It’s very encouraging to see the breadth of applicants expand year on year, which to me reflects the growing entrepreneurial interest in contributing to Net Zero and helping to transition to Net Positive as a community. The climate crisis is a complex issue that requires cooperation from all sectors, not just the usual suspects like energy.
Jeffrey Krogh, Managing Director of BNP Paribas (TechNation’s headline partner for Net Zero 3.0) and Net Zero 3.0 Judge said, “Startups play a critical role in accelerating change and driving innovation towards net zero. I was impressed by the quality of nominees this year, their impact and their ability to scale. Previous group companies have rated the program highly, and we are pleased to support the common goal of making this upcoming TechNation Net Zero 3.0 initiative a success.
Mathias Karadi, VP Product Strategy at Sage and Net Zero 3.0 Judge, said, “Sage is committed to supporting SMBs to take action to reduce our environmental impact and break down barriers to sustainability. We are committed to once again supporting the Net Zero 3.0 program as the next generation of fast and innovative companies are key to ensuring the UK is at the forefront of tackling the climate crisis. It was a great privilege to be a Tech Nation Zero judge and I’m thrilled to be able to support them throughout the program.
Savitri Tan, Investment Associate at Isomer Capital and NetZero 3.0 Judge, said, “I was impressed by the caliber of candidates applying to become Future Fifty members and excited to see that the new team members are working to change the world as we know it. ; From bringing leading scientific researchers into industry, influencing drug discovery and changing how we shop for everyday essentials. I am confident that being a part of Future Fifty will help them achieve these goals faster.
