A climate tech fund that has secured £63 million from investors to back pioneering UK tech firms has called the turn on two difficult years for the sector despite waning political support for net-zero targets.
Jon Pollock, chief executive of Elbow Beach, said its success showed there had been a change, but that climate tech investors were having to be more disciplined in the type of start-ups they were supporting.
“The nature of that turn is away from broad climate tech and towards tech that has real impact on the customer,” he said. “Those that are just looking for funding which doesn’t have that laser focus on improving the economic outcome for the end customer will continue to struggle even more.”
Jon Pollock of Elbow Beach
He said climate tech
