Artemis Technologies has been selected as one of 30 companies (and 4 fellows) chosen to join Net Zero 1.0. The Net Zero growth programme is the very first in the world to focus on sustainable, carbon conscious companies that are helping the UK work towards achieving its goal to be net zero by 2050.
The announcement of the cohort coincides with the release of Tech Nation's Net Zero Report, which takes a closer look at the state of net zero tech within the UK, and within the global context.
Business and Energy Secretary Alok Sharma said:
“As part of our plan to reach net zero emissions by 2050, we are funding green startups and unleashing the talent and creativity of entrepreneurs across the country.
“Innovative companies like these will help us to create green jobs and build back better as we recover from the coronavirus pandemic.”
Gerard Grech, Chief Executive, Tech Nation, comments:
“The UK’s net zero sector already leads Europe for VC investment, at £336mn, and is home to 323 tech companies that are working hard to reduce carbon emissions globally. Scaling such businesses can be hard, which is why we are delighted to launch a new programme focused on businesses at this stage of growth from all over the UK, especially given the impact they will have on climate change and their drive towards a net zero economy.”
Tech Nation also announced that BNP Paribas will be supporting Net Zero 1.0 as the headline sponsor. Anne Marie Verstraeten, UK Country Head, BNP Paribas, commented:
“Supporting Net Zero in the UK requires collective mobilisation, and clean tech solutions are a vital part of accelerating the energy transition. As a bank supporting the transition to a low carbon economy, we have a responsibility to connect our ecosystem of clients and innovative scaling companies at the forefront of developing technologies that tackle environmental challenges. This partnership with Tech Nation highlights the power of coalitions that is essential to scaling up climate action and creating a fairer, greener and more resilient world.”
The Net Zero Report
If the UK is to achieve net zero by 2050, a lot of the work already needs to be underway. Released today, The Net Zero Report shows that the UK already plays a leading role in tackling climate change through innovative technology. In 2019, the UK led Europe for VC investment in net zero companies at £336mn in VC investment. This was 55% more than France which received £216mn, and 18% more than Germany with £283mn. VC investment in net zero in the UK has grown by 28% from 2018 to 2019.
The report has identified 323 net zero companies in the UK, a notable amount when compared to 207 in France (35% less) and 150 in Germany (53% less). Furthermore, 37% of UK net zero companies are at an early stage, which shows an impressive pipeline. 26% of UK net zero companies are late-stage, which highlights the immense growth already happening to meet emission targets. However, while big strides are being made, there is much to be done.
The Cohort Stats
Net zero in itself is an incredibly broad category within tech. Sustainability and environmental impact needs to be considered by every single industry in order for net zero to be achieved.
The companies selected to be on our Net Zero programme represent a rich variety, with the most prominent subsectors being associated with some of the most pressing industries when it comes to climate: energy and electricity (23%) and electric vehicle ecosystems (23%). Other subsectors featured are sustainable buildings (13%), waste management and circularity (13%), agriculture and food systems (10%), environmental footprinting, smart cities, supply chain and offsetting.
Susannah McClintock, Investment Director, Sustainable Ventures, Judge for the Net Zero programme, said:
“It is fantastic to see how these exciting UK companies are contributing to the enormous challenge of achieving net zero; the applications showed the depth of innovation and talent in start-ups and early stage working to address climate change through commercial solutions.”
The first Net Zero cohort is also evidence of how net zero efforts are coming from every part of the UK, with 57% of the companies being headquartered outside of London. A healthy 13% of our cohort are based in Scotland, with another 13% are based in the South West of England. 10% of our cohort are Welsh, with Yorkshire, the North West, the Midlands and East of England also being represented.
Zheela Qaiser, Programme Lead, Net Zero Programme, comments:
“All 149 applications we received for the Net Zero programme were excellent, showcasing the richness of solutions that small teams of innovators are working on to help us make monumental changes to the way our human world and systems impact our planet. I’m so impressed with our final cohort, and am looking forward to helping them work through the unique challenges that net zero companies face.”
In addition to the 30 companies in the Net Zero cohort four additional ‘Fellows’ were selected to join the programme. The Fellows selected, are net zero companies at a slightly later stage or are alumni of other Tech Nation growth programmes. The Fellows will have access to the Net Zero coaching sessions, the peer-to-peer learning, and will be able to share some of their wisdom as net zero companies who already have experience in scaling within this unique space.
Mark Hodgson, Chief Business Officer, Cervest, Judge for the Net Zero programme, said:
“I was hugely impressed by the high standard of submissions for Tech Nation’s Net Zero Programme. These inspiring, growing companies are creating a more resilient economy and I look forward to working with them to drive the UK’s Net Zero ambitions forward.”
More information on the programme, and a full list of the companies selected, can be found here.