Sustainable Ventures, a climate tech hub, has secured £3million to support its UK expansion, starting with Manchester in 2024.
Having been bootstrapped since 2011, this funding, led by Barclays Sustainable Impact Capital and other investors, is an exciting milestone which will enable the tech hub to access talent and provide additional professional services to climate innovators across the nation.
This investment will link local stakeholders into growing regional clusters whilst ensuring climate tech specialists and entrepreneurs receive the bespoke support they need and deserve. Manchester is the fastest growing UK tech hub outside of London and it has been reported as the most digitally inclusive city in the UK, with a £5bn digital tech ecosystem and home to over 10,000 startup and scaleup companies. This expansion will assist the region in meeting its accelerated 2038 net zero target whilst delivering inclusive green jobs and boosting the economy.
Barclays Sustainable Impact Capital is investing £500million of Barclays own equity capital in climate tech startups, helping them to scale to solve environmental challenges. Barclays has previously invested in three businesses that are also supported by Sustainable Ventures – Airex, creator of the world’s first smart air brick, Brill Power, pioneers of technology to extend battery lifespans and output, and Sunswap, zero-emission transport refrigeration.
Sustainable Ventures purpose has always been to connect local initiatives, entrepreneurs and capital. Having first-hand experience of the challenges that come with running early stage businesses, this investment will allow them to support hundreds more innovators to go further and faster on their journeys to overcome the challenges of climate change.
Andrew Wordsworth, CEO & Managing Partner at Sustainable Ventures said:
“After specialising in the sector for more than 20 years, climate tech is now the sector of choice for entrepreneurs and it’s imperative that local initiatives, entrepreneurs and capital meet. This has been Sustainable Ventures’ purpose for more than a decade. We’re delighted that with the support of Barclays Sustainable Impact Capital investment, we can support hundreds more innovators to go further and faster on their journey to overcome the challenges of climate change.”
Steven Poulter, Head of Principal Structuring and Investments at Barclays will be joining the Board of Sustainable Ventures said:
“The UK with its world-leading universities, research and manufacturing capabilities has the potential to be the global hub for climate tech companies that become future unicorns. Through Barclays Sustainable Impact Capital, the bank is investing its own capital in Sustainable Ventures’ UK expansion to support growth at pace for these innovative low-carbon solutions leveraging our experience as an advisor, bank and investor.”