business

Two Yorkshire Scaleups Selected To Join World-first Net Zero Programme

Leeds-based companies Antonym and Hark have been selected to join Tech Nation’s Net Zero programme.

The programme has been designed to support 30 of the UK’s most promising scaleups that are contributing to the UK reaching its goal of net zero greenhouse gas emissions by 2050.

Antonym, Leeds - Road Freight
The road freight market is worth £2.5 trillion, but it's a big culprit when it comes to carbon emissions. Antonym is tackling the issue with smarter, safer, cleaner and greener logistics. Using proprietary in-house EV technology and advanced manufacturing techniques like Metal 3D printing, Antonym offers a bolt-in plug and play solution to electrify existing diesel trucks to make them electric, zero-emissions, and noiseless.

Revannth N Murugesan

Revannth N Murugesan, Co-founder & CEO, Antonym, commented: “Having been through Tech Nation Rising Stars in 2019, we are very aware of the huge scope of opportunities that came our way through Tech Nation.

"As a company, our vision is to accelerate the UK's low carbon economy by decarbonising transportation, and we are sure by being part of the Net Zero programme, we'll be able to achieve this effectively with the support from Tech Nation.”

Hark, Leeds, Yorkshire - IoT
How businesses and big buildings consume energy needs to change if we’re going to hit net zero in 2050. Hark is tackling this issue by helping enterprises increase efficiency, maximise yield and reduce waste.
Hark provides energy analytics and industrial IoT for enterprises, allowing Energy Managers and Asset Operators to easily connect to, monitor and control their buildings, energy meters and industrial process assets.

Jordan Appleson

Jordan Appleson, CEO, Hark, commented: “We are excited about the potential to build on and around areas we may not have considered, as well as applications of our tech we may have overlooked. Ultimately, we want to surround ourselves with smart, talented and innovative people. This programme focuses on core elements of Hark's mission and that is exciting!”

“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."Gerard Grech, Chief Executive, Tech Nation

Tech Nation, the growth platform for tech companies and leaders, announced the 30 scaleups that have been selected to join the new Net Zero programme.

Alok Sharma MP

Announced in Business and Energy Secretary, Alok Sharma’s, speech yesterday at London Tech Week, the companies come from across the UK and across a range of sectors including construction, agriculture, and energy. Mr 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.”

The cohort includes companies that are building electric vehicles, creating vertical farms and animal-free dairy products, measuring environmental footprints, and improving manufacturing and recycling supply chains. These companies represent the most promising UK scaleups contributing to the UK reaching its goal of net zero greenhouse gas emissions by 2050.

Gerard Grech, Chief Executive, Tech Nation

Gerard Grech, Chief Executive, Tech Nation, commented: “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.”

In a newly published report, Tech Nation found that the UK leads Europe for the number of Net Zero companies, at 323 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 of growth, showing an impressive pipeline for the sector. 26% of UK Net Zero companies are late-stage, highlighting the growth already happening to meet emission targets. In 2019, the UK also led Europe for VC investment into Net Zero companies at £336mn in VC investment, 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 government-backed initiative is the first of its kind, designed to accelerate the growth of the UK’s most promising Net Zero scaleups. Sessions will include quantifying sustainability, navigating the regulatory landscape, and how to internationalise a Net Zero business. The programme comes at a critical moment, with Covid-19 highlighting the key role played by technology in aiding a green recovery to the crisis and the importance of building a sustainable future.

The programme is supported by partners BNP Paribas, who bring their expertise to scaling up climate action.

Anne Marie Verstraeten

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 the innovative start-ups 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.”

In addition to the 30 companies joining the Net Zero cohort, four additional ‘Fellows’ will join the programme.

The Fellows selected are net zero companies at a later stage of funding, or are alumni of Tech Nation growth programmes.

The Fellows will have access to the Net Zero coaching sessions and peer-to-peer learning opportunities. The Fellows will also share their learnings and experience as net zero companies who already have experience scaling within this unique space.

The 30 UK tech scaleups tackling climate change to watch
The UK led Europe for VC investment into Net Zero companies in 2019, at £336mn in VC investment - up 28% on the previous year, according to new research published today
Tech Nation has selected the 30 most promising scaleups from across the UK to join world-first Net Zero programme
Companies are tackling a range of climate issues with innovative technologies, including in construction, farming, robotics, and e-mobility
The Net Zero programme has been designed to support innovative companies that will help build a cleaner, greener, and more sustainable future

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