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In a momentous development, Sustainable Ventures has secured a substantial £3 million investment earmarked for driving its ambitious expansion efforts across the UK. Today, we proudly unveil this significant milestone that marks a departure from our bootstrapped beginnings in 2011. This crucial infusion of funds, led by the distinguished Barclays Sustainable Impact Capital, in conjunction with other visionary investors, signifies a significant turning point in our journey.
This infusion of capital, amounting to £3 million, catalyses our forthcoming expansion, which will debut in the vibrant city of Manchester in 2024. A city with a burgeoning tech scene, Manchester is poised to become the next tech epicentre outside of London. It boasts a staggering £5 billion digital tech ecosystem and over 10,000 thriving startup and scaleup companies. Notably, it holds the distinction of being the most digitally inclusive city in the UK. This expansion initiative aims to align the region with its accelerated 2038 net-zero target, all while fostering the creation of green jobs that are both inclusive and economy-boosting.
Barclays Sustainable Impact Capital, a renowned player in climate tech investments, injects an impressive £500 million from Barclays' equity capital into the ecosystem, propelling climate tech startups toward scalable solutions for pressing environmental challenges. This financial giant has previously backed three enterprises that also enjoy the support of Sustainable Ventures – Airex, the visionary creators of the world's first smart air brick; Brill Power, trailblazers in technology aimed at extending battery lifespans and output; and Sunswap, pioneers of zero-emission transport refrigeration.
At our core, Sustainable Ventures has always been dedicated to bridging the gap between local initiatives, visionary entrepreneurs, and capital. We intimately understand the trials and tribulations faced by early-stage businesses. This new investment injection opens the doors for us to nurture and empower hundreds more innovators, enabling them to chart an accelerated course in tackling the formidable challenges of climate change.
Andrew Wordsworth, CEO & Managing Partner at Sustainable Ventures, said:
"After specialising in the sector for more than 20 years, climate tech is now the sector of choice for entrepreneurs, and it's imperative that local initiatives, entrepreneurs and capital meet. This has been Sustainable Ventures' purpose for more than a decade. We're delighted that with the support of Barclays Sustainable Impact Capital investment, we can support hundreds more innovators to go further and faster on their journey to overcome the challenges of climate change."
Steven Poulter, Head of Principal Structuring and Investments at Barclays, will be joining the Board of Sustainable Ventures:
"The UK, with its world-leading universities, research and manufacturing capabilities, has the potential to be the global hub for climate tech companies that become future unicorns. Through Barclays Sustainable Impact Capital, the bank is investing its own capital in Sustainable Ventures' UK expansion to support growth at pace for these innovative low-carbon solutions leveraging our experience as an advisor, bank and investor."