News and upcoming Deals from the Greenbackers Climate Tech Ecosystem
Welcome to the November edition of Greenbackers Spotlight, our member’s newsletter!
Every month we’ll be featuring “investment ready” deals (and much more!) across the cleantech landscape for your review.
New for this month:
Proteum Energy – The escalating climate crisis, driven by greenhouse gas emissions, demands urgent action in hard-to-decarbonize sectors. Proteum has developed proprietary reformer technology that revolutionizes hydrogen production with low-to-negative carbon intensity. The process uses less energy and water than SMR and electrolysis, while also yielding valuable co-products such as RNG and renewable methanol that greatly enhances both the economic and environmental value of their offering. Based Phoenix, USA (Series A Bridge Round $500k followed by Series B $5m)
FlyBox – Waste management & infrastructure operators face growing pressure to boost profits and cut emissions from organic waste processing. FlyBox’s Insect Waste Management (IWM) Technology uses black soldier fly larvae to bio-convert organic waste into valuable protein and fertiliser ingredients while reducing carbon emissions, helping operators meet stricter regulations and circular economy demands. Based London, UK. (£850k sales, £4M grants, seeking £1M).
Welcome to November’s Spotlight – your monthly guide to climate tech deals from Greenbackers Investment Capital.
At a fascinating inflection point for climate tech, this month’s deals land against a backdrop of major shifts. Donald Trump’s projected return threatens the future of America’s Inflation Reduction Act, potentially redirecting investment flows back to European shores. Meanwhile, the UK is positioning itself as an ideal home for climate innovation – something Swiss carbon capture startup Neustark is betting on with its new Greenwich facility, drawn by what it calls the UK’s “mature supply chain, infrastructure and government support.”
This momentum is backed by private capital too. Latest analysis (Sifted) shows family offices increasingly stepping into direct climate tech investments, with Belgium’s Korys and France’s Noria leading with 12 direct investments each – a sign that long-term, patient capital is recognizing the sector’s potential.
It’s a reminder of why Greenbackers’ focus on commercially viable climate tech has never been more vital. As always, this month we’re bringing you carefully vetted opportunities that promise both environmental impact and solid returns. You’ll find our latest curated deals in the Investment Showcase, where you can connect directly with innovative cleantech founders… take a look below!
Updates on Greenbackers Current Cohort
💻 Angara (AI platform for optimizing industrial asset efficiency, Raising £4.1M Series A) DecarbonX, Angara’s digital solution to heat exchanger fouling has won the prestigious Innovations in Oil & Gas Digital Technology award at the Asian Downstream Summit in Singapore! (more here).
🗑️ Danu Robotics Ltd (Raising £2m Seed, EIS) Are moving to close and announce pipeline of 5-6 new implementations for their AI-driven robotic waste management systems for efficient recycling.
🚤 Ecomar Propulsion (High-performance electric & hybrid marine propulsion systems, Raising £2m Seed, SEIS & EIS) MV Dirac, a hydrogen hybrid vessel, will begin zero-carbon freight operations in Scotland in early 2025, showcasing British innovation in partnership with Forth Ports (more here).
〰 Inyanga MEG (Turn-key tidal energy solutions for offshore renewables, Raising £5m Series B with a term sheet and commitments for £4m in place) Hydrowing (the tidal energy division of Inyanga MEG) has signed a binding agreement with one of PLN’s subholdings to develop plans for the first tidal current power plant in Indonesia, following their initial MoU in 2022 (more here).
🚰 H2C Safety Pipe (Safer, cheaper & retrofittable H2 transportation, Raising £5.8m Seed) H2 Clipper’s Patented “Hydrogen Ledger” Uses Blockchain Technology to Track Purity and Efficiency Across the Hydrogen Supply Chain (more here).
🌉 Horizon Bridge (Offshore wind cable monitoring, bridging technology and insurance, Raising £2m Seed) CEO, Joel Ferreira, has been awarded the title of Renewable Energy Equipment Manufacturing CEO of the Year 2024 – UK, by CEO Monthly Magazine (more here)
⚡ OOMPH EV (Electric vehicle charging solutions, Raising £1m Seed) Great look at the Powerlink product launch from OOMPH EV. A practical, and fast solution to EV charging especially for fleet management (more here).
🧪 Sonichem (Innovative Bio-Based Chemicals, Raising £2.5m EIS) were awarded £30k by the Industrial Biotechnology Innovation Centre to partner with the University of Glasgow for the characterisation and analysis of Sonichem’s lignin production, advancing chemical modifications that further demonstrate how their lignin can be used as a viable replacement to unsustainable, petrochemically-derived alternatives. (more here).
🌊 Gazelle Wind Power (Offshore wind floating platforms) open new HQ in Northern Portugal as part of Nau Azul Project, aiming to revolutionise offshore wind energy (more here).
♻️ IR Power (Proprietary electricity recycling technologies, Raising £3.8M Series A) 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.
🔥 Caldera (Storage Boilers help the industry decarbonise heat production, using natural and recycled materials, Raising £10M Series A) CEO James Macnaghten on the Unlocking the Energy Trilemma Podcast to speak about decarbonising industrial heat (more here).
🛳️ NEOL Copper (Innovative materials for energy efficiency, Raising £5m Series A) Paul Whiting, CEO of Delta-Xero, sat down with NEOL to discuss the inspiration and challenges of oil filtration and the future of sustainable lubricants. (more here).
🏍️ Verge Motorcycles (Advanced electric motorcycles with in-wheel rim motors, Raising Series A) Take a look inside the factory of Verge as they look to double the battery capacity of electric motorcycles (more here).
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
Greenbackers Climate Investment Showcase: London Cleantech Funding Event – 29/01/25
Connect with the future of cleantech investment at London’s County Hall. Join us for a full day of pitch presentations, one-on-one speed-networking sessions, and more with leading climate tech entrepreneurs and investors. This exclusive showcase brings together VC funds, family offices, and angel syndicates with carefully selected startups seeking Late Seed to Series B funding. With over 24 innovative companies presenting and dedicated networking time, this is your opportunity to shape the future of sustainable technology (Get more info here).
Future Events: Meet Us & Our Ventures
20 Nov: Meet Andrew Smtih at Accelerating Innovation Day, Maritime Innovation Week at the London Stock Exchange.
Register for the Greenbackers Xmas Party!
Time to take stock and celebrate! We’d love for you to join us at Greenbackers Xmas party at our offices at Barclays Eagle Labs.
Who’s coming? C-Suite executives in and focussed on Scotland, i.e, senior execs from industry, investment, SME’s, Global Scots, industry commentators and corporates with a strong vested interest in Scotland’s green growth story.
Greenbackers next big Investment Pitch event is in London in January 2025. Click here to attend as a funder or to apply as a cleantech venture raising funds
We will be back again next month with more deals and a climate tech news, in the meantime feel free to reply or reach out to us on LinkedIn.
