Early stage green tech startups in the UK will now have access to a £20m venture capital investment fund.
The Mulberry Green Fund, a joint venture between the Adapt Low Carbon Group at the University of East Anglia and Cocoon Networks, will seek to solve China’s environmental problems by scaling innovative UK tech solutions in the country.
The fund’s launch comes after a recent government report by Chinese president Xi pledged to address the country’s environmental issues as he stated that “tackling climate change is a shared mission for mankind”.
Announced today at the China-UK Hi! Technology Festival, held today in London, the fund will focus on a wide range of verticals within green tech, including water and soil management.
Speaking at the launch, John French, CEO of Adapt Low Carbon Group, said: “The fund sends out a strong message that the UK is open for business and offers a great opportunity for us work with the Chinese to support their aim of reducing their carbon footprint.
“Our mission is to demonstrate the role that technology has to play in reducing pressure on the planet’s finite resources by improving the efficiency of buildings and transport, reducing the amount of resources used in manufacturing, increasing recycling and helping farmers to grow more with less,” he added.
The news comes after Cocoon Networks announced the launch of a staggering £500m London-based venture capital fund to invest in technology companies across the UK and Europe.