We’re excited to bring you February’s Greenbackers Spotlight, our member’s newsletter! Every month we feature active, “investment ready” deals across cleantech for your review. New for this month:

• Hemspan (UK)- Hemspan is a construction technology business developing bio-based, circular systems to capture and store atmospheric carbon in buildings to enable mass adoption of climate-positive living. Raising £5M Series A, EIS approved.

• C-Power (USA) – Turning the Ocean into a power and data enriched environment through easy-to-deploy, autonomous, offshore power systems that convert the energy of waves into accessible, on-demand, charging and data server access points. Raising £10m Series B.

• Triton Anchor (USA) – Setting new standards in offshore wind anchoring innovation with highly cost-efficient and flexible, modular anchoring systems that enable faster installations with reduced sea life impact.

Welcome to February’s “Spotlight,” your monthly window into the world of Climate and Cleantech investments, courtesy of Greenbackers Investment Capital.

Sorry! There’s no escaping AI in climate tech either… As we move deeper into 2025, AI continues to reshape every corner of innovation – and the climate sector is no exception. The traditional sustainability landscape finds itself transforming as technological advancement meets environmental imperative.

The climate tech investment sphere presents a complex picture. While overall VC investments have declined for the third consecutive year, new dedicated funds are breathing life into the ecosystem. Junction’s €115M Article 9 fund, Shift4good’s €220M raise, and World Fund‘s ambitious €500M target signal renewed momentum in European climate tech financing. Course Corrected VC‘s successful €63.9M first close of their second fund further reinforces this trend.

Perhaps the most intriguing development is the evolving relationship between AI and sustainability. The assumed trajectory of AI’s insatiable energy appetite is being challenged by breakthroughs like DeepSeek‘s energy-efficient model. Yet, questions remain about whether efficiency gains in training will translate to reduced overall energy demand. This uncertainty hasn’t deterred investment in the space – energy sector funding jumped 12% to $9.4 billion, while building technologies saw a 10% increase to $2.7 billion, largely driven by AI-related infrastructure demands.

NVIDIA‘s growing influence in climate solutions presents another dimension. Their vision of AI-powered weather forecasting, geospatial monitoring, and digital twins is reshaping how we approach climate challenges. The push for cleaner data centers has become particularly urgent as hyper-scalers navigate the dual pressures of AI advancement and environmental responsibility.

As always, you’ll find the latest updates on our curated deals in the Cohort update below…

Updates on Greenbackers Current Cohort

💻 Angara (AI platform for optimizing industrial asset efficiency, Raising £4.1M Series A) Welcomes industry veteran Mutlaq Al-Morished as Senior Advisor and future Non-Executive Director, bringing decades of experience including SABIC and TASNEE (more)

🌳 Balance Eco (Innovative Voluntary Carbon Market solution and tech platform, Raising £3M Seed, EIS approved) Recently presented at the United Nations HQ in New York (See their presentation), which led to a significant increase in their sales pipeline, now over £2.25m, and the signing of Two Magnolia VC as a client, making 50 of their investments “balanced“.

❄️ Camfridge (Solid-state cooling technology, Raising £2.5M+ Seed, EIS approved, soft lead commitment secured) EPTA, leaders in commercial refrigeration, moving forward with Camfridge Refrigeration Technology to bring a product to market in 2026.

🪲 FlyBox (Insect-based waste management solutions, £850k sales, £4M grants, syndicate forming for their £1M Seed round, EIS Approved) Celebrates milestone of 4,000 LinkedIn followers, highlighting their growing community’s passion for sustainability, innovation, and the future of Insect Waste Management™ (more)

♻️ IR Power (Proprietary energy recycling flywheel technology, Secured lead for a £3.8M+ Series A – Final terms and round participants being confirmed). Deploying paid model installation at UK customer, following successful pilot projects at global Tier 1 automotive manufacturers, setting the template for future rollouts across the customer’s 100+ factories globally.

🔧 NEOL Copper (Innovative lubricants to stop wear and efficiency loss in machinery, Raising £5m Series A, SEIS & EIS approved) PT Cuprum Performance Indonesia launched a new range of Cuprum Motor Oil products, featuring Neol’s next-gen CuGlide tech, designed to enhance motorcycle performance & superior engine durability. (more)

〰 Inyanga MEG (Turn-key tidal energy solutions for offshore renewables, Closing £5m Series B) Secures key role in £8M Welsh government-backed Morlais project, set to deploy 20 HydroWing turbines generating 20MW of clean power by 2026 (more)

🌊 Sundew (Biological solutions for aquatic ecosystems, Raising £4.5M Series A, EIS pre-assurance in process) Collaboration with U.S. Geological Survey highlighted at Midwest Fish and Wildlife Conference, showcasing microalgae technology for targeted RNAi delivery in invasive Asian carp control (more)

🚗 RBW (First new-build classic electric vehicle’s, combining classic, sports cars chassis with state-of-the-art, proprietary and modular electrification systems, Raising £6-12M Series B) Strengthens leadership team with Colin Sattar as Sales Director, bringing 35 years of experience from brands including Bentley, Lamborghini & Porsche (more)

📜 Nafici Environmental Research (Converting agricultural waste to sustainable paper pulp, Raising £5.1-12.9M Series A, EIS pre-assurance in process) Announces collaboration with Pulpex through Innovate UK’s Net Zero Fibre Bottle Challenge IX, exploring non-wood fibre materials (more)

⚡ OOMPH EV (Electric vehicle charging solutions, Raising £1m Seed, EIS approved) Launches PowerStream solution for construction sites, enabling rapid DC charging for electric plant equipment without reliance on diesel generators (more)

🌽 Lambda Agri (Innovative spray coating that increases crop growth) Featured on BBC News for pioneering light-converting greenhouse spray paint technology, demonstrating increased crop yields in early tests without additional electricity or land use requirements (more)

Let Greenbackers know if you’d like more info or an intro to any founders – their detailed profiles can be viewed on our online showcase here.

Greenbackers Updates

Future Events: Meet Us & Our Ventures

• Feb 26: Greenbackers at the EIC’s Bankable Energies 2025 in London  

• Feb 27: Greenbackers x OakNorth Fundraising Masterclass in London Join Andrew Smith for an exclusive lunchtime session on sharpening your fundraising skills. Click here to register.

• Mar 4-6: Greenbackers at Subsea Tieback Forum & Exhibition Mark Hannigan attending this premier subsea technology event at Moody Gardens Convention Center, Galveston, TX.

• (End of) April – date TBC: An exclusive “arrive and drive event” showcasing the facility, vehicles and systems behind RBW EV Cars. A rare opportunity to experience the best of geniune British Automative engineering – watch this space!

Updates from Greenbackers partners

We will be back again next month with more deals and climate tech news, in the meantime feel free to reply or reach out to us on LinkedIn.

Robert Hokin, Andrew Smith, Mark Hannigan, Annika Borrmann & Anton Themen.