Four London-based companies have been named in the Sunday Times BGF 10 Green Tech to Watch, researched by Fast Track.
Published in the 20th anniversary edition of the Sunday Times Tech Track 100 ranking of the UK’s fastest-growing private tech companies, the inaugural 10 Green Tech to Watch list recognises private UK-based firms that are developing technology to help mitigate or reverse the effects of human activity on the environment, based on research sponsored by BGF – the UK’s most active investor in growing businesses
This year’s 10 Green Tech to Watch includes four London-based companies. These include Highview Power, which stores spare energy by cooling and liquefying air to -196˚C, releasing it to drive turbines and generate clean electricity; and EnvoPAP, which blends agricultural waste and wild grass fibres to create tree-free office paper and packaging materials.
Carbon Clean is a carbon capture technology developer which is cutting the cost of CO2 capture from industrial emissions by more than half. Meanwhile Whitefox Technologies has created an industrial membrane that is used in countries ranging from Germany to Guyana to efficiently remove excess water from biofuel production.
Stephen Welton, executive chairman of BGF, who helped judge the finalists, said, “As we come out of the Covid-19 crisis, a major and radical shift to new sectors of the economy is now going to happen much faster. Top of the list is the environment. Turning net-zero emissions pledges into reality is a huge opportunity for investors, but it requires a significant amount of capital. BGF plans to increase our investments into sustainable businesses from 5% today to up to 20% in the next 18 months. The 10 Green Tech to Watch is a great platform to showcase promising companies in this space.”
The 2020 Sunday Times BGF 10 Green Tech to Watch includes the following companies:
|Location||Year end‡||*Latest sales £000||Funds raised||Staff||Founded|
Reusable battery developer
|Claims to make the world’s first serviceable, upgradable and recyclable lithium batteries, with applications including household energy storage. The company was co-founded by chief executive Amrit Chandan and chief technology officer Carlton Cummins, both 31. Sales, including grant revenue, reached c.£1m in 2019. This year BGF invested £1.45m and other investors include Mercia Asset Management.|
|Carbon Clean |
Carbon capture technology developer
|Central London||Mar 20||1,508||£24.7m||17||2009|
|Says its process removes more than 90% of CO2 from industrial emissions and has raised more than £17m this year – and £25m in total – from investors including America’s Chevron and the Norwegian Equinor Ventures. Co-founded by chief executive Aniruddha Sharma, 33, and chief technology officer Prateek Bumb, 35.|
Waste technology developer
|Its technology produces renewable energy from waste that would otherwise end up in landfill by partially transforming it into gas. Founded in 2014 by chairman David Pike, 67, and chief executive Ian Brooking, 50. Partners include Lockheed Martin and |
Balfour Beatty; and investors include Foresight VC and Canada’s Stantec.
Sustainable materials producer
|Central London||Mar 20||1,933||£0.8m||24||2015|
|Blends agricultural waste and wild grass fibres to create tree-free office paper and packaging materials, with customers including L’Oréal and Lloyds Bank. Chief executive Kaushal Shah, 28, founded the company in 2015 while he was a student at the University of Southampton, and retains a majority stake. Investors include Founders Factory.|
|Highview Power |
Energy storage technology developer
|Central London||Dec 19||**£10,000+||c£74m||40||2002|
|Stores spare energy by cooling and liquefying air to -196˚C, releasing it to drive turbines and generate clean electricity. Led by chief executive Javier Cavada, 44, the company raised £35m in February from Japanese manufacturing giant Sumitomo, and in June received a £10m UK government grant.|
|i2O Water |
Smart water networks
|More than 100 utility companies across 47 countries use its technology to monitor and control water supplies – customers include Anglian Water and the city of Cape Town. Led by chief executive Joel Hagan, 51, it has raised more than £31m from investors including UK environmental tech investor Ombu.|
Liquid cooling technology
|Its liquid cooling system reduces the need for fans in power-intensive data centres, cutting energy costs. Raised £6m in February last year from investors including UK environmental tech investor Ombu and French venture capital firm Aster. The company is led by chief executive David Craig, 56.|
Sustainable ventilation specialist
|High Wycombe||Dec 19||11,300||£2.7m||82||1974|
|Waitrose, Ford, and IKEA use its ultra low-energy ventilation, lighting and cooling systems, which it says has saved 400,000 tonnes of CO2 over the past two decades. It is led by managing director Andrew McCubbin, 51. The company has raised £2.7m in funding to date, including from BGF.|
|OXIS Energy |
Lithium-sulphur battery manufacturer
|Developing lithium-sulphur batteries, which it says pack in 5x more energy than lithium-ion batteries. Run by chief executive Huw Hampson-Jones, 65, it has raised £49m from investors including Brazilian private equity firm Aerotec and South Africa’s Sasol, and is building a factory in Brazil opening in 2023.|
|Whitefox Technologies |
Industrial membrane solution developer
|Central London||Dec 19||5,687||£8.9m||29||2000|
|Its filtering technology is used in countries ranging from Germany to Guyana to efficiently remove excess water from biofuel production. Founded in 2000 by chief technology officer Stephen Blum, 59, it has been led by chief executive Gillian Harrison, 46, |
since 2009. It is backed by private investors.