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Clean Growth Fund

Clean Growth Fund

Venture Capital

Clean Growth Fund is a venture capital fund launched in 2020 targeting early stage British clean technology companies.

Portfolio

6

companies

AUM

£101M

under management


Portfolio companies

measurable.energy

measurable.energy

Measurable Energy designs and manufactures AI powered smart plug sockets that reduce office electricity costs and carbon emissions.

Piclo

Piclo

Piclo operates a global energy flexibility marketplace that makes electricity grids smarter and more sustainable.

ON

Oriole Networks

Oriole Networks builds optical networking technology to connect artificial intelligence chips and reduce energy consumption.

Kamma

Kamma

Kamma develops property data and analytics technology to support net zero goals in the real estate sector.

Carbon Re

Carbon Re

Carbon Re builds artificial intelligence to decarbonise energy-intensive industries.

Indra Renewable Technologies

Indra Renewable Technologies

Indra Renewable Technologies develops smart EV chargers and bidirectional charging solutions.


Team

BG

Beverley Gower-Jones

Managing Partner

JT

Jonathan Tudor

Investment Partner

Jonathan brings climate tech investment experience from roles at Clean Growth Fund, Centrica, and BP Ventures. He currently serves as an Investment Partner at Clean Growth Fund.

LinkedIn
LT

Lisa Thornley

Marketing Manager

PT

Paul Taylor

SM

Susannah McClintock

Investment Partner


Recent investments

Series A
£4.0M

Vertex Exploratory Fund and Clean Growth Fund co-led the £4m round to accelerate international expansion.

"The Vertex Exploratory Fund actively seeks out disruptive frontier technologies with climate as one of the core themes in our investment strategy. measurable.energy stood out as one of the most promising startups in the UK in the climate space, offering a low-touch, intuitive, and compliance-ready solution that effectively reduces power waste. The company is at the forefront of providing the tools necessary to drive positive change and the Vertex Exploratory Fund is proud to partner with them on this journey."
— Shang-Wei Chow, Managing Director, Investment
Bridge
Undisclosed

The funding round was co-led by EDP Ventures alongside Clean Growth Fund and Future Energy Ventures.

"We are delighted to join CGF and FEV as investors in this funding round and we’re thrilled to strengthen our partnership with Piclo. This collaboration will enhance our distributed energy resource assets, such as decentralized storage and industrial and residential assets, globally. With this partnership, we aim to contribute even more to the decarbonization of energy systems worldwide and explore new opportunities in flexibility markets"
— Frederico Gonçalves, Managing Director
Seed
£10.0M

The seed round was co-led by UCL Technology Fund, Clean Growth Fund, XTX Ventures, and Dorilton

"AI computational needs are increasing by 10 times every 18 months. This leads to distributed training and inference across large numbers of xPUs. Collective data movement across the servers in the data centre becomes a bottleneck which in turn limits the training and inference completion time. This requires a fundamental shift in the co-design of next generation networked systems."
— George Zervas, CTO
Series A
£4.5M

Clean Growth Fund led the financing round alongside backers including Vectr7 Investment Partners and MMC Ventures to support research and recruitment.

"Our technology offers a simple solution for office occupiers who are under pressure to take action and cut energy costs and reduce emissions. Our solution can pay back financially within two years and allows business customers to reduce their electricity bills by at least 20%."
— Dan Williams, CEO
Seed
£4.2M

The funding round was led by Planet A Ventures with participation from Clean Growth Fund, UCL Technology Fund, and Cambridge Enterprise.

"At a time of escalating fuel prices and increasing emphasis on CO2 reduction targets, there is an urgent need for action. Carbon Re is connecting the biggest challenge of our time – climate change – with the biggest opportunity – advances in AI. Our cement plant trials have demonstrated that Delta Zero can deliver dramatic CO2 savings on a near-live basis."
— Sherif Elsayed-Ali, CEO
Series A
£4.7M

Mott MacDonald Ventures has joined the Clean Growth Fund and Green Angel Syndicate to back the energy flexibility platform.

"Strategic partnerships are very important for facing up to the challenge of decarbonisation, so it’s fantastic to close our Series A round with a like-minded investor that is as ambitious as we are. Alongside Mott MacDonald with the active support of the Clean Growth Fund and the Green Angel Syndicate, Piclo will continue to accelerate flexibility markets in the UK and internationally, grow our team and ramp up the development of new solutions"
— James Johnston, CEO
Series A
£6.0M

The funding round was led by the Clean Growth Fund with participation from Gulf Oil International.

"Indra is all about technology and using it to support the journey to Net Zero. Thanks to the early investment by OVO Group, and now with the investment from the Clean Growth Fund and Gulf, we are in a very strong position to take full advantage of the growing EV market and the emergence of V2G solutions in the UK and globally."
— Mike Schooling, Chief Technology Officer