• Atmospheric CO2 /Parts per Million /Annual Averages /Data Source: noaa.gov

  • 1980338.91ppm

  • 1981340.11ppm

  • 1982340.86ppm

  • 1983342.53ppm

  • 1984344.07ppm

  • 1985345.54ppm

  • 1986346.97ppm

  • 1987348.68ppm

  • 1988351.16ppm

  • 1989352.78ppm

  • 1990354.05ppm

  • 1991355.39ppm

  • 1992356.1ppm

  • 1993356.83ppm

  • 1994358.33ppm

  • 1995360.18ppm

  • 1996361.93ppm

  • 1997363.04ppm

  • 1998365.7ppm

  • 1999367.8ppm

  • 2000368.97ppm

  • 2001370.57ppm

  • 2002372.59ppm

  • 2003375.14ppm

  • 2004376.96ppm

  • 2005378.97ppm

  • 2006381.13ppm

  • 2007382.9ppm

  • 2008385.01ppm

  • 2009386.5ppm

  • 2010388.76ppm

  • 2011390.63ppm

  • 2012392.65ppm

  • 2013395.39ppm

  • 2014397.34ppm

  • 2015399.65ppm

  • 2016403.09ppm

  • 2017405.22ppm

  • 2018407.62ppm

  • 2019410.07ppm

  • 2020412.44ppm

  • 2021414.72ppm

  • 2022418.56ppm

  • 2023421.08ppm

Partner Content

Creating tomorrow’s climate tech leaders: Clean Growth Fund

The £101m venture capital fund could play a key role in helping firms reduce their Scope 3 emissions argues Beverley Gower-Jones, founder and managing partner at the Clean Growth Fund

By Beverley Gower-Jones

The Clean Growth Fund (CGF) was launched in 2020, with cornerstone investment from CCLA and the UK Government. A £101m venture capital fund that is backing some of the UK’s most promising early-stage climate tech companies; those that are pioneering carbon emission reductions in the areas of power and energy, buildings, transport, agriculture and waste. CGF’s investment strategy is focused on technologies that reduce Scope 3 emissions, which are critically important to listed portfolios that must decarbonise.

CGF’s remit is to drive superior financial returns for its investors and accelerate the development and commercialisation of the UK climate tech sector – leading to the creation of new and skilled jobs across the country and contributing to the UK’s efforts to deliver net zero. To date, it has invested in 16 exciting and ambitious companies – employing 479 people across the UK.

Three companies within CGF’s investment portfolio that can make a particular impact on reducing Scope 3 emissions are, Holiferm, Sunswap and FutraHeat.

Holiferm is an award-winning University of Manchester spin out which uses eco-friendly ingredients (like honey) to manufacture personal and home care consumer products such as shampoo, detergents, laundry powder and shower gels (rather than using fossil fuels and tropical oils). CGF invested in 2021 and made a follow-on investment last year. Holiferm opened its first commercial manufacturing plant in Wallasey (Liverpool) twelve months ago and is now working with a variety of partners from local independent businesses to multinationals.

Sunswap has developed a zero-emission transport refrigeration unit (TRU) enabling the transport of cooled and frozen goods using refrigeration powered by renewable electricity rather than diesel fuel. The TRU, now in use with some of the UK’s main logistics companies, combines solar panels and battery storage, in combination with a cloud-based remote monitoring and control system, to deliver a drop-in clean technology solution to HGV refrigeration; it can reduce emissions by up to 93%.

Futraheat is pioneering the development of a high temperature heat pump for industries that will target applications in 100°C - 200°C process heating such as food and pharmaceuticals. This hard-to-decarbonise temperature range is currently responsible for over 3% of total global emissions – more than the entire aviation industry.

Other companies within CGF’s portfolio include Arda Biomaterials – a young London company that transforms brewery waste into leather alternatives for fashion and retail use and Above Surveying, which uses the latest data tools and digital technologies to optimise the generation capacity and operational efficiency of solar farms. 2024 has seen CGF invest in two bio-tech companies – FA Bio (its bio-products increase crop yields, protect biodiversity and reduce GHG emissions) and HutanBio (it has invented a biofuel for use by the shipping and aviation industries that uses unproductive land and does not use any fresh water - reducing GHG emissions).

CGF looks for innovations that will abate significant amounts of CO2-eq (equivalent) per year and will typically make an initial investment between £500k and £3m – predominantly during Seed or Series A stages. With the support of CCLA and its other investors, CGF is dedicated to and passionate about creating tomorrow’s climate tech leaders.

With the need to accelerate the growth of an innovative and sustainable climate tech sector – one that is creating long-term and skilled jobs, seizing the export opportunities that exist whilst helping the UK reach its net zero targets, CGF has plans to establish a second climate tech investment fund within the next 18 months.

For further information about Clean Growth Fund and the companies in its investment portfolio, please visit www.cleangrowthfund.com or contact Beverley Gower-Jones, founder & managing partner - Beverley.Gower-Jones@cleangrowthfund.com

Sponsored by CCLA

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