Thursday, 03 November 2022 at 2:35 AM
A new study shows that UK investment in climate technology is poised for a double-digit increase after companies involved in the sector raised $7.5B in the nine months up to September.
According to new research by start-up Tech Nation, investment in UK climate tech companies has increased rapidly from $4m in 2021. This puts the UK behind only the US when it comes to cash pumped into this sector.
These numbers show that investors have largely ignored their fears about a recession so far, despite high interest rate and rising inflation which easily chokes the flow liquidity.
Tech Nation President Gerard Gretsch said: city in the morningYesterday, it was clear that this sector will play a crucial role in combating climate change.
“Nearly 40 percent of emissions reductions are still dependent on technologies that have not yet become a mass market, so it is imperative that we support companies that help significantly reduce our carbon emissions,” he said.
“Basically, every Net Zero startup is another step closer towards decarbonizing the planet and hopefully solving our climate problem.”
The UK figures were able to buck the wider slump in climate investment across Europe, the US and elsewhere, as US, Germany, and Sweden saw investment slow down.
The United States has seen a $2.14billion decline in climate technology investment so far this year. Germany and Sweden, however, have reported declines of $4.46billion and $2.17billion, respectively.
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