Source: British Business Investments
British Business Investments, a commercial subsidiary of the British Business Bank, today announces a new £5m commitment to green economy investor, Green Angel Syndicate, to support early-stage UK businesses operating in the green technology sector.
The commitment is being made through the Regional Angels Programme, which seeks to reduce regional imbalances in access to early-stage equity finance. It will match funds raised via Green Angel Syndicate’s network of investors and their EIS Climate Change Fund. The fund supports a portfolio of UK wide, early-stage climate tech companies, primarily in the agritech and water, built environment, energy, transport and waste and recycling sectors.
Green Angel Syndicate’s specialisation is in the fight against climate change and it only invests in companies whose technology and process innovations have the potential to reduce carbon or greenhouse gas emissions or to remove carbon from the atmosphere.
Judith Hartley, CEO, British Business Investments, said: “Our Regional Angels Programme is designed to address imbalances in access to early-stage finance in the UK and to increase the overall amount of capital available to smaller businesses through early-stage investors such as Green Angel Syndicate. This £5m commitment from British Business Investments means increased support for green technology sector early-stage businesses across the UK.”
Nick Lyth, CEO, Green Angel Syndicate, said: “This welcome commitment will expand our bandwidth substantially, and hence the impact of our investments in the fight against climate change. The recognition from British Business Investments of the importance of investing in UK start-ups fighting climate change is an encouraging sign for the future.”
Some of the companies that have benefited from Green Angel Syndicate’s EIS funding during the last 12 months include: Surrey-based DNA biomonitoring service provider NatureMetrics, Bristol-based greenhouse gas detection technology company QLM Technology, and sustainable seaweed product developer Oceanium, which is based in Scotland.