UK CleanTech sector: headline figures
There are 978 companies operating in the cleantech, Greentech or clean energy space. Of these, 9% are academic spinouts, three times the overall proportion of spinouts among ambitious businesses in the UK (3%). The UK's cleantech innovators are spread across the country, but are especially concentrated in London (247), the South East (134), and Scotland (109).
Since 2011, the UK's cleantech and sustainability sector has raised more than 2.8k deals, worth a total value of £8.11b. Of these, 903 were announced rounds (totalling £3.61b), whilst 1,598 of them—64% of all cleantech deals—were unannounced funding rounds (totalling £1.68b). Together, UK cleantech start-ups have also secured at least 2.4k innovation grants over the past decade.
CleanTech investment trends
Investors are now putting their weight behind the movement. Between 2011 and 2021, announced equity investment into high-growth cleantech companies saw significant growth, in both number and value. In fact, just 130 investment deals were secured by CleanTech businesses 10 years ago, amounting to £257m. But by 2021, this had risen to a record-breaking 366 investment deals, whilst the amount raised soared to £1.18b.
The total amount of funding raised in 2020 and 2021 remained high, as the pandemic failed to deter several large funding rounds. Looking ahead to the rest of 2022, 10 fundraising deals have already been agreed, worth a staggering total of £1.74b. This is largely thanks to battery manufacturing start-up Britishvolt securing funding of £1.70b. At full capacity, the business' new Gigafactory will produce more than 300,000 EV battery cells every year.
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With thanks to Beauhurst for providing data and analysis.
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