The UK Is Fourth in Europe for Green Tech Innovation, Study Finds

As per a European Clean Energy sector study, the UK has gotten the fourth spot in Europe. Germany topped the list while Sweden was second, and France and the Netherlands shared the third spot. The sustainable consumer goods firm Bower Collective conducted the research and analyzed investments and patents. It also unveiled that just under four in 10 green startups in the UK are working towards clean and affordable energy.

The research also highlighted that the UK had issued the third most green technology patents in Europe. It has issued 1,066 patents to date. Bower Collective also reported that about €1.3bn per country was invested into green tech startups since 2018. The nations that topped the list invested more. For instance, Swede raised €7.6bn.

Nick Torday, the co-founder of Bower Collective, stated, "Overall, it is heartening to see significant capital coming in to support businesses focused on creating a more sustainable future. The UK is in the top five, and we certainly see lots of opportunity and innovation happening in our space, with increasing appetite from investors to prioritize impact as one of their key investment criteria."

The UK has been working towards the goal of achieving net-zero carbon emissions by 2050. The Department published a plan for Business, Energy, and Industrial Strategy last year, including huge investments into non-carbon energy tech. Since then, more startups in the UK have been working towards finding and developing the most innovative methods of decarbonization.

Data also shows that energy tech startups in the UK are struggling to scale and attract later-stage investment compared to other areas where investments are huge, such as AI and fintech.

EU Green Deal

EU hopes to become the world's first climate-neutral continent by 2050. It is also an opportunity to modernize the economy, society, and re-orient the continent towards a just and sustainable future. Research and innovation will play a vital role in accelerating and navigating necessary transitions, deploying, demonstrating, and de-risking solutions, and engaging citizens in social innovation

Horizon Europe

To help achieve the goal of becoming a climate-neutral continent, the EU has started a research and innovation program (2021-2027) named Horizon Europe. The powerful instruments and innovative governance can help bring necessary systemic changes, ensure an inclusive ecological and economic transition, and reach climate neutrality

In synergy with other EU programs, Horizon Europe can be essential in leveraging national public and private investment. They can foster innovative technologies, sustainable solutions, and disruptive innovation together and spread successful fresh solutions across Europe and the world. More than 35% of Horizon Europe's spending is allocated to addressing climate change.

Green Partnerships Matter

Horizon Europe includes new research and innovation partnerships. Such partnerships can lead to huge transformations in the environment, society, and the economy. To boost such partnerships, the EU works closely with industry and countries. Examples of such partnerships include transport (use of batteries), clean hydrogen, circular biobased sectors, low-carbon steel, the built environment, and biodiversity.



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