The Clean Growth Strategy announced the government’s ambition to provide up to £20 million to support a new clean technology early stage investment fund.
The Clean Growth Fund aims to speed up the deployment of innovative clean technologies that reduce greenhouse gas emissions, by making direct investments in companies seeking to commercialise promising technologies.
The Fund forms part of BEIS’ £505 million Energy Innovation Programme, which aims to accelerate the commercialisation of innovative clean energy technologies and processes through the 2020s and 2030s.
The new £40 million Fund combines a £20 million investment from BEIS alongside £20 million from a private sector investor CCLA, a UK institutional investor with an environmental social governance agenda. The Fund has ambitions to reach £100 million and CGIM is now seeking additional investment from other private sector investors.
Further information on the fund’s eligibility criteria and investment approach is available from CGIM’s Clean Growth Fund website.