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TechNation and PwC have selected 20 startups to join their Climate Technology Accelerator programme, a late-stage UK climate technology company with significant emissions reduction potential.
In the year Launched on 4 October 2022, the Net Zero X program aims to future-proof the UK’s climate technology sector by reducing the climate tech carbon funding gap and enabling research and development (R&D) intensive companies to survive longer. A business trip.
We are delighted to be partnering with PwC to create our new Net Zero X programme, a future climate change unicorn. These companies are pushing boundaries across industries and working hard to shape our world for the better,” said Gerard Grech, CEO of TechNation.
“With 40% of emissions reductions based on technologies not yet commercialized at mass market level, we need to give these UK-based entrepreneurs and innovators all the support they need to lower global carbon emissions and create a more sustainable future. Everyone.”
Unlike TechNation’s Net Zero Accelerator Program, now in its third year and focused on early-stage climate technology initiatives, Net Zero X is limited to later-stage companies.
Of the 20 organizations that joined the inaugural team, 11 – Magway, Better Milk, Solvis, Petalite, Cero, Small Robot Company, Olio, Artemis Technologies, Greyparrot, Satellite Vu and CATAGEN – are alumni of the Net Zero program.
TechNation says the first Net Zero cohort has raised over £150m after completing the program (an average raise of $5m each), while the second cohort has raised over £100m in the last 6 months.
“I’m delighted to welcome the UK’s high-impact, late-stage climate technology companies to Tech Nation and PwC’s Net Zero X program for the first time. Sammy Fry, director of the Net Zero X program at TechNation, said the need to disrupt industry has never been greater.
“As a number of these companies have previously graduated from TechNation’s Net Zero program as first-tier climate technology companies, it’s a privilege to see how quickly these companies have grown in impact and scale, and it’s great to support. A wide range of new companies decarbonising in hard-to-reduce sectors.
The other nine organizations that have joined Net Zero X are the carbon-negative construction company Adaptavate; Angara Global, a supplier of decarbonate technology; zero emission hydrogen producer HiiROC; direct aerial photography company Mission Zero Technologies; Logistics company OX Delivers; electric vehicle charging technology company Petalite; and green aerospace startup SATAVIA.
Over the next 6 months, all 20 companies joining NetZero X will help address the sector and fund level-specific challenges with sessions delivered by exceptional coaches and entrepreneurs.
In addition to participating in roundtables with industry leaders across the policy, corporate and investment landscape, this will look at how to collectively increase the impact of climate technology.
Founders and their leadership teams accepted into the program benefit from Tech Nation and PwC expertise, investor networks and mentorship.
Attendees at London Tech Week’s Climate Technology Summit in June 2022 heard from delegates that technology companies looking to improve the sustainability of their operations must rethink their approach to growth and collaborate across the sector to meet the challenges of the climate-driven timeframe. Crisis.
For example, Lubomila Jordanova, the founder of the carbon footprint reporting organization Plan A, the “window of opportunity” for effective climate action is currently about three years. “That’s the way it is,” she said. “After that, if we don’t implement scalable solutions, we are not in a position to stop the climate crisis. Life will be very difficult.”
A big part of the problem, Jordanova says, is the way tech companies and the broader economy measure success with very narrow metrics, leading to effectiveness and obscuring the nature of the problem.
“We have KPIs. [key performance indicators] such as growth and GDP and [profit] Unrealistic margins are environmental, social and administrative because they do not take into account the missing parts, he said. You do not know how to achieve them.
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