Clean Growth Fund Backs UK Climate Tech to Slash Scope 3 Emissions
The Clean Growth Fund (CGF), a £101m venture capital fund, is backing UK climate tech companies to tackle Scope 3 emissions. Launched in 2020 with investments from CCLA and the UK Government, CGF aims to drive superior financial returns while accelerating the UK's climate tech sector.
CGF focuses on technologies that reduce emissions in various sectors. Holiferm, a portfolio company, uses eco-friendly ingredients to manufacture personal and home care products, significantly reducing fossil fuel and tropical oil usage. Another company, Sunswap, offers a zero-emission transport refrigeration unit, cutting emissions by up to 93% compared to diesel fuel. FutraHeat is developing a high-temperature heat pump for industries, targeting applications in the 100°C - 200°C range.
As of now, CGF has invested in 16 companies, employing 479 people across the UK. The fund's strategy targets technologies that reduce emissions in power and energy, buildings, transport, agriculture, and waste sectors. While specific companies and their emissions reduction focus in the last 18 months are not detailed, investments broadly support clean energy, renewable fuels, and sustainable agriculture technologies.
CGF plans to establish a second climate tech investment fund within the next 18 months, further demonstrating its commitment to reducing Scope 3 emissions and driving growth in the UK's climate tech sector.
Read also:
- Emerging Investment Trends in China's Ethical Finance Sector for 2025
- Construction and renovation projects in Cham county granted €24.8 million focus on energy efficiency
- Colombia's Court Abolishes Local Referendums on Land Use, Sparking Mining Sector Concerns
- Trump challenged in court over halting billions in funding for electric vehicle charging infrastructure
