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Green Angel Syndicate welcomes £10m from British Business Investments to combat climate change

Press release 21 April 2022

Green Angel Syndicate today announces a further £5m commitment from British Business Investments, bringing its total investment since November 2021 to £10m.

Green Angel Syndicate is the UK’s largest network of specialist investors fighting climate change. This commitment is being made through British Business Investments’ Regional Angels Programme, which seeks to reduce regional imbalances in access to early-stage equity finance. It will match funds raised via Green Angel Syndicate’s network of investors and their EIS Climate Change Fund.

The GAS EIS Climate Change Fund supports a portfolio of UK-wide start-up and early-stage companies across the following sectors: energy, transport, buildings, food & agriculture, waste & recycling and environment.

Green Angel Syndicate only invests in those companies whose technology and process innovations have the potential to reduce or remove carbon dioxide or greenhouse gas emissions from the atmosphere.

Coming only a few months after the initial commitment from British Business Investments, this additional sum is very welcome. It comes at a time when the fight against climate change is more important than ever. GAS will continue identifying and investing in companies with the technology and drive to help us face the biggest challenge mankind has ever faced; we are very grateful that British Business Investments will help us make a bigger impact. - Cam Ross CEO, Green Angel Syndicate
This welcome additional commitment will expand our bandwidth even further, and hence the impact of our investments in the fight against climate change. The increased recognition from British Business Investments of the importance of investing in UK start-ups fighting climate change is an even more encouraging sign for the future. - Nick Lyth Founder, Green Angel Syndicate
Our Regional Angels Programme is designed to address imbalances in access to early-stage finance in the UK and to increase the capital available to smaller businesses through early-stage investors such as Green Angel Syndicate. This additional £5m commitment from British Business Investments further supports the UK’s green technology sector and early-stage businesses across the UK. - Judith Hartley CEO, British Business Investments

Companies which have recently benefited from British Business Investments’ existing commitment to Green Angel Syndicate include: Bristol-based agri-tech startup Glaia, Exeter-based deep tech engineering company New Motion Labs and construction sector startup Sphera, based in Stockton-on-Tees.

ENDS

Further Information

Notes to editors

About Green Angel Syndicate

Green Angel Syndicate (GAS) is the UK’s largest network of specialist investors fighting climate change. GAS has over 340 members and has invested in 30 start-up and early-stage companies across the following sectors: energy, transport, buildings, food & agriculture, waste & recycling and environment.

About British Business Investments

British Business Investments is the trading name of British Business Investments Ltd, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.

British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.

British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such.  They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.

The funding from British Business Investments to Green Angel Syndicate does not amount to any endorsement or warranty from British Business Investments, the British Business Bank plc, or the government of the UK.

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