Investment boost for the UK’s very best early stage clean growth companies


The UK’s most promising early stage clean growth ventures have the opportunity to secure investment from a new £40M investment fund, established by the Department of Business, Energy & Industrial Strategy (BEIS), in partnership with CCLA, one of the UK’s largest fund managers.  

The Clean Growth Fund will invest in the UK’s most promising early-stage “clean growth” companies pioneering carbon emission reductions in the areas of power and energy, buildings, transport and waste.  It will seek to accelerate the development and commercialisation of clean growth technologies, to create new and skilled jobs across the country, and contribute to the UK’s efforts to deliver net zero by 2050.

There is a strong market need for new funding to support clean growth companies at the ‘early’ stage of their development.  BEIS and CCLA want to support and enable an increase in early stage investment in clean growth technologies and solutions.  Partnering public funds with private capital is key for delivering Net Zero and this Fund will show the opportunities available in the clean growth space.

The Clean Growth Fund will be managed by Clean Growth Investment Management LLP (CGIM).  The Managing Partner of CGIM is Beverley Gower-Jones, working in partnership with Northstar Ventures to bring together in-depth knowledge of the UK low carbon technology sector and investment expertise.

BEIS and the CCLA are the cornerstone investors for the Clean Growth Fund, investing £20M each.  The Fund has ambitions for a £100M fund and CGIM is now seeking wider private sector investment from others – pension funds, Limited Partner (LP) investors and family offices.

Business Secretary, Alok Sharma, said:

The need for innovative and ambitious ideas across green industries has never been greater. I am pleased that with the help of this fund, promising clean growth start-ups will be able to step up to accelerate the UK’s recovery, while supporting our path to Net Zero by 2050.

This pioneering new fund will enable innovative low-carbon solutions to be scaled up at speed, helping to drive a green and resilient economic recovery.

James Bevan, CCLA’s Chief Investment Officer said:

We decided that it was time for CCLA to invest in the very best early stage technologies to support the UK Net Zero objective.  In partnership with BEIS, we have developed a solution, the Clean Growth Fund.  Through the Clean Growth Fund, we now look forward to working with other investors to support these exciting young UK companies aiming to reduce carbon emissions.

Beverley Gower-Jones, Managing Partner of CGIM said:

The Clean Growth Fund is a significant boost to the country’s low carbon sector and is a clear signal from the UK Government that new and innovative technologies will be crucial to deliver Net Zero and the clean growth agenda. We want to hear from the very best clean technology businesses from across the UK.

Beverley Gower-Jones co-founded Carbon Limiting Technologies, a low-carbon business incubation consultancy, and was a founder and Vice President at Shell Technology Ventures where she was instrumental in defining Shell’s technology venturing strategic approach.  She chairs the commercial panel of the BEIS Energy Entrepreneurs Fund, which has invested more than £72m of grant funding into early stage, cleantech ventures.

The multi-national law firm, Pinsent Masons, advised Clean Growth Investment Management LLP.  Ian Warner led the team at Pinsent Masons. 

For further information, please visit:   / twitter: @CleanGrowthFund

Beverley Gower-Jones is available for interview.

Clean Growth Fund/CGIM:
Beverley Gower-Jones, Managing Partner:
Paul Taylor, Taylor Keogh Communications: +44 (0)20 8392 8250 / +44 (0)7966 782611 /

Vanessa Moore, Media Officer, Department for Business, Energy and Industrial Strategy 020 7215 5689 /

Miranda Barham, Fable Bureau: +44 (0)7899 030 304 /

Northstar Ventures:
Sharon McKee, Marketing & PR Manager: +44(0) 7753 414 236 /

Notes to Editors:

CGIM’s Advisory Panel includes Michael Liebreich, Professor Chris Rapley, Vicki Bakhshi, George Whitehead and Robert Bahns.

BEIS brings together responsibilities for business, industrial strategy, science, innovation, energy, and climate change. The Clean Growth Fund is funded by the BEIS Energy Innovation Programme and further details can be found at:

CCLA manages investments for charities, religious organisations and the public sector. Founded in 1958, it aims to deliver strong long-term returns and has unmatched experience in providing ethical and responsible investment to charities. CCLA is independently owned by its clients with £10 billion of assets under management.

CCLA Investment Management Limited (Registered in England & Wales under number 2183088) and CCLA Fund Managers Limited (Registered in England & Wales under number 8735639) are authorised and regulated by the Financial Conduct Authority (FCA).  Their registered address is Senator House, 85 Queen Victoria Street, London, EC4V 4ET.

Northstar Ventures is a venture capital and social investment firm based in the North East of England.  Northstar Ventures Limited (Registered in England & Wales under number 5104998) is authorised and regulated by the Financial Conduct Authority (FCA).  Its registered address is 5th Floor, Maybrook House, 27-35 Grainger Street, Newcastle upon Tyne, NE1 5JE.