Five Thames Valley companies given Tech Nation boost
Five companies across the Thames Valley have been taken on by Tech Nation, the UK’s leading growth platform for tech scaleups to participate in its second Net Zero growth programme. Net Zero 2.0 is the first government-backed growth programme designed to support the most promising climate tech companies in the UK.
This year’s successful companies were assessed by 40 specialists across key industries and sectors. The companies were judged based on their scalability and potential to help the UK reach its high-priority net zero goal. Companies are actively decarbonising each key sector, with the most prominent including energy and electricity, transport, buildings and cities, and agriculture. Carbon removals and space-tech are two new focus areas this year. The selected companies include, Oxford-based Ambue, Oxwash and PowerMarket, Bicester-based Electric Assisted Vehicles, and measurable.energy in Reading.
With 40 per cent of emissions reductions reliant on technologies not yet at mass-market scale, it is imperative to support the growth of these companies. In the run-up to COP26, the Net Zero programme aims to help realise these vital tech companies’ potential to drastically reduce global emissions. Every company in the Net Zero 2.0 cohort will be given unparalleled access to long-term investment opportunities, education, talent, press opportunities and a platform with which to influence green policies and create the optimum conditions for growth.
The UK leads the way in Europe for its number of climate tech companies
New data from Tech Nation and Dealroom has revealed there are 519 Net Zero startups and scaleups in the UK, nearly double the number in France (270) and 63 per cent more than in Germany (318).
With its Net Zero 1.0 cohort and new Net Zero 2.0 cohort, Tech Nation has now supported the growth of 13 per cent of the UK’s climate tech companies in total, who are leading the race to net zero by innovating across entech, healthtech, agritech, fintech and even space tech.
Southeastern tech is booming
The Southeastern climate tech companies joining Net Zero 2.0 are part of a fast-growing Southeastern tech scene. According to data from The Tech Nation Report 2021, the UK’s South East is home to more than 49,320 digital tech firms (and seven tech ‘unicorns’ – companies valued at more than $1 billion), and its tech sector employs more than 328,000 people, with an annual turnover of $91 billion.
Oxford – where five of the seven Southeastern Net Zero 2.0 companies hail from – is the South East’s largest tech hub, and received £344 million in investment in 2020 despite the Covid-19 pandemic, making it the second largest tech hub in the UK overall (behind only London).
“Climate tech is playing an enormous role in reducing carbon emissions. Technology that helps reduce greenhouse gas emissions, either directly or indirectly, across all sectors of society is in hot demand. But with 40% of emissions reductions reliant on technologies not yet at mass-market scale, there is huge potential still to be realised. With these companies needing to scale further and faster than any other technology has before to meet the demand, we are committed to doing all we can at Tech Nation to support and accelerate their growth.”
Gerard Grech, Founding CEO of Tech Nation and Founding Member of the Tech Zero Taskforce
To read more, click here.