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The Clean Growth Fund will invest in the UK鈥檚 most promising early-stage 鈥渃lean growth鈥� companies pioneering carbon emission reductions in the areas of power and energy, buildings, transport and waste. 听

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鈥檚 efforts to deliver net zero by 2050.

There is a strong market need for new funding to support clean growth companies at the 鈥榚arly鈥� stage of their development. 听BEIS and CCLA want to support and enable an increase in early stage investment in clean growth technologies and solutions. 听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 (新香港六合彩开奖结果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.

Professor Rapley said: "We urgently need to accelerate the scale and pace of action to address climate change 鈥� both to reduce our impacts on the climate system and to become more resilient to its impacts on us. Investments in early stage clean growth companies will be a key contribution to the national and global effort to reach net zero carbon emissions by 2050."

The Clean Growth Fund will be managed by Clean Growth Investment Management LLP (CGIM). 听The Managing Partner of CGIM is Beverley Gower-Jones, working in partnership with NorthStar Ventures to bring together in-depth knowledge of the UK low carbon technology sector and investment expertise.

BEIS and the CCLA are the cornerstone investors for the Clean Growth Fund, investing 拢20M each. 听The Fund has ambitions for a 拢100M fund and CGIM is now seeking wider private sector investment from others 鈥� pension funds, Limited Partner (LP) investors and family offices.

Business Secretary, Alok Sharma, said: 鈥淭he need for innovative and ambitious ideas across green industries has never been greater. I am pleased that with the help of this fund, promising clean growth start-ups will be able to step up to accelerate the UK鈥檚 recovery, while supporting our path to Net Zero by 2050.鈥澨�

鈥淭his pioneering new fund will enable innovative low-carbon solutions to be scaled up at speed, helping to drive a green and resilient economic recovery.鈥�

James Bevan, CCLA鈥檚 Chief Investment Officer said: 鈥淲e decided that it was time for CCLA to invest in the very best early stage technologies to support the UK Net Zero objective.听 In partnership with BEIS, we have developed a solution, the Clean Growth Fund.听 Through the Clean Growth Fund, we now look forward to working with other investors to support these exciting young UK companies aiming to reduce carbon emissions.鈥�

Beverley Gower-Jones, Managing Partner of CGIM said: 鈥淭he Clean Growth Fund is a significant boost to the country鈥檚 low carbon sector and is a clear signal from the UK Government that new and innovative technologies will be crucial to deliver Net Zero and the clean growth agenda. We want to hear from the very best clean technology businesses from across the UK.鈥�