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1、Showcasing 50 UK climate tech start-ups that are driving the decarbonisation of key sectorsPwC Net Zero Future50ForewordWhile 2024 was marked by bold ambition in the UK,with the new Government stepping up its climate commitments,global developments are testing our collective ability to decarbonise a

2、t pace.Against this backdrop,the role of innovation has never been more important.Climate action is gaining momentum in the UK.The Governments climate policies,investments,and incentives aim to accelerate the transition and strengthen climate resilience,while a new phase of ESG is pushing businesses

3、 beyond compliance and towards data-driven targets,AI-powered insights,and greater integration of sustainability into core business strategies.But despite these encouraging trends,the urgency of the climate crisis has only intensified.Global temperatures surpassed the Paris Agreements 1.5C threshold

4、 for the first time in 2024,1 while three of the UKs four warmest years have occurred since 2022.2 At the same time,policy changes in the US may slow the transition to clean energy.To limit further warming,the United Nations has called for a staggering 42%reduction of annual greenhouse gases by 2030

5、.3 Inger Anderson,Executive Director of the United Nations Environment Programme,warns that achieving this will require“global mobilisation on a scale and pace never seen before,starting right now.”Governments,companies,investors and consumers all have a role to play.And at the centre of this transf

6、ormation lies innovation and emerging technologies that can reshape industries.We have been tracking the UKs climate tech ecosystem for years.In 2022,we screened thousands of UK-headquartered climate tech start-ups to curate the PwC Net Zero Future50 a selection of fifty nascent companies,each offer

7、ing innovative solutions for our journey to net zero.Although commercialising and scaling new technologies is challenging,some have succeeded against the odds,securing funding and bringing their products to market.For an update on a selection of our 2022 Future50,go to the where they are now section

8、 at the end of this report.We have now repeated this exercise using our AI-powered net zero accelerator to enhance the breadth and depth of our search for innovative start-ups.The new cohort showcases the UKs climate tech ecosystem and features a remarkably diverse range of solutions from lithium-fr

9、ee batteries and oil-free plastics to motor optimisation and grid efficiency.Some solutions are just emerging from the lab and taking their initial steps into the real world,while others are experiencing rapid roll-out to paying customers.While technology alone isnt enough,it remains one of the most

10、 critical building blocks.The innovations spotlighted in this report reveal the immense potential of the UKs climate tech sector,and the shared vision of a more sustainable and resilient future.1.World Meteorological Organization,“WMO Confirms 2024 Warmest Year on Record,About 1.55C Above Pre-Indust

11、rial Level.”2.Met Office,“2024 Provisionally the Fourth Warmest Year on Record for the UK.”3.UNEP 2024 Emissions ReportPwC Net Zero Future50April 2025|2ContentsPrevious pageNext pageNet Zero Future50Our Net Zero Future50 showcases some of the UKs most innovative climate tech start-ups,each accelerat

12、ing progress towards a more sustainable and resilient future.This selection of companies illustrate the opportunity to decarbonise across all sectors,but is neither exclusive nor exhaustive.The company information has been derived from publicly available sources and discussions with management.PwC h

13、as not independently verified any of the company information.This publication has been prepared for general guidance on matters of interest only,and does not constitute professional or investment advice.You should not act upon the information contained in this publication without obtaining specific

14、professional advice.No representation or warranty(express or implied)is given as to the accuracy or completeness of the information contained in this publication,and,to the extent permitted by law,PricewaterhouseCoopers LLP,its members,employees and agents do not accept or assume any liability,respo

15、nsibility or duty of care for any consequences of you or anyone else acting,or refraining to act,in reliance on the information contained in this publication or for any decision based on it.Select a logo below to explore each companys innovative solution.PwC Net Zero Future50April 2025|3ContentsPrev

16、ious pageNext pageContentsResults:Net Zero Future503.1 Mobility and transport3.2 Energy3.3 Food,agriculture and land use3.4 Industry,manufacturing and resource management3.5 Built environment3.6 Greenhouse gas capture,removal and storage3.7 Climate change management and reporting03Methodology02Marke

17、t context01Where they are now04Whats next?05Team overview06April 2025|4PwC Net Zero Future50ContentsPrevious pageNext page01Market contextThe tech gap to net zeroPwCs 2024 Net Zero Economy Index reveals that the world must decarbonise at a rate twenty times faster to limit global warming to 1.5C abo

18、ve pre-industrial levels.Even achieving the 2C,at the lower end of the Paris Agreements target,demands a sevenfold increase in the current decarbonisation rate.Such a rapid shift will require significant advancements in climate tech.In the UK,56%of decarbonisation will need to be delivered by techno

19、logies or solutions that are not yet commercially mature.3 This presents a once-in-a-generation investment opportunity,which is already unfolding.A decade ago,climate tech accounted for just 1%of global venture capital(VC)and private equity(PE)investment,but has since risen to 8-10%,reflecting its c

20、ritical role in the transition to net zero.43.PwC,“De-risking the Energy Transition in Europe.”4.PwC,State of Climate Tech 2024:Seeking an edge as deal-making slows.56%of the UKs decarbonisation needs to be delivered by technologies or solutions that are not yet commercially mature.April 2025|5PwC N

21、et Zero Future50ContentsPrevious pageNext pageContentsPrevious pageNext pageGlobal and UK emissions versus investment by sectorThe mismatch between emissions and investmentEarly-stage investments are heavily weighted towards sectors that are easier to decarbonise,resulting in a significant funding g

22、ap in other areas.The vast majority(70-80%)of global climate-related venture funding currently goes into the energy and mobility sectors,where the transition is well underway.5 In contrast,sectors like buildings,food,agriculture and heavy industry,which have disproportionately high emissions compare

23、d to their level of funding,receive far less attention.Its now vital to expand the focus beyond energy and mobility,and identify solutions across a much broader range of sectors that require greater government support and investor attention.GlobalUKEnergyMobility and transport*UK GHG emissions 2023*

24、Removed mobility mega deal valued at 0.8bn Note:Emissions are 2023 and VC investment is 12 months to Sept-24.All other numbers,aside from UK emissions,are taken from PwC State of Climate Tech report.Figures have been rounded and may not total 100%.5.PwC,State of Climate Tech 2024:Seeking an edge as

25、deal-making slows.Industry,manufacturing and resource managementFood,agriculture and land useBuilt environment%of total VC investment32%38%13%10%6%of total emissions14%14%22%34%16%of total VC investment26%31%19%12%12%of total emissions29%20%13%19%20%April 2025|6PwC Net Zero Future50ContentsPrevious

26、pageNext pageCatalysing net zero through investment Driving investment is essential for achieving net zero,particularly given the steep risk and cost of capital curve associated with net zero solutions.Successfully moving technologies up this curve unlocks larger pools of capital at lower costs,deli

27、vering strong returns for early backers and attracting investors with deeper pockets to scale the technology.Most early-stage climate tech investors are angel investors or venture capitalists with a high-risk high-return appetite,but private equity and infrastructure investors are increasingly enter

28、ing the space.Large corporates are also playing a crucial role in scaling climate tech solutions by adopting technologies,forming partnerships,and financing or acquiring start-ups.Around 25-30%of recent climate tech deals have involved large corporates,6 and 72%of business leaders say they are likel

29、y to use transactions to cut emissions and achieve net zero goals.7Despite these encouraging trends,securing investment remains a challenge.While many founders are given a strong start through government funding,the start-up and scale-up funding ecosystem is weaker in the UK than other countries,suc

30、h as the US.We are frequently approached by early-stage companies who tell us that US investors have the scale and risk appetite needed to back companies in this space.The complexity of the decarbonisation agenda and the fragmentation of the climate tech market in the UK also makes it difficult for

31、start-ups to find the right investors and strategic partners.6.PwC,State of Climate Tech 2024:Seeking an edge as deal-making slows.7.PwC,“Fast-Tracking Green Growth.”Disclaimer The company information presented in the results section has been derived from publicly available sources and discussions w

32、ith management.Any metrics presented,including Technology Readiness Level(TRL),emissions reductions or cost savings,have been provided by the company but not independently verified by PwC.72%of business leaders say they are likely to use transactions to cut emissions and achieve net zero goals.PwC N

33、et Zero Future50April 2025|7ContentsPrevious pageNext page02Methodology1.SearchWe used our AI-powered net zero accelerator to scan the UK market by sector.This process helped us identify a long list of thousands of innovative solutions and companies that are driving decarbonisation.2.ScreenWe used C

34、O2 emissions reduction potential and technology readiness level(TRL)metrics provided by our AI net zero accelerator,along with insights from PwC subject matter experts across each sector,to assess the long list of solutions and create a shortlist.We then evaluated the companies using maturity and sc

35、alability metrics and further oversight from PwC UK specialists.This narrowed the shortlist down to approximately 150 companies.3.SelectWe conducted surveys and interviews with the shortlisted companies and selected 50 innovators for inclusion in our Net Zero Future50,seeking a broad range of soluti

36、ons across sectors,regions,themes,maturity and founder background.Our list is neither exhaustive nor exclusive but intended to showcase the breadth and variety of innovation taking place.Our AI net zero accelerator has been developed by codifying the technical expertise of PwC experts into a series

37、of recursive queries,designed to identify innovative solutions and suppliers driving decarbonisation within a matter of hours.Its inputs can be tailored to specific sectors and value chain areas,producing a tailored list of decarbonisation steps,levers,solutions,and suppliers,along with a set of met

38、rics to help users to prioritise and shortlist.To find out how we can use our accelerator to help you identify potential suppliers,strategic partners,or M&A targets,please refer to the contact details at the end of this report.April 2025|8PwC Net Zero Future50We would like to thank all the companies

39、 we interviewed.This report could have been filled three times over with innovative technologies and solutions,and the exclusion of any company on this list does not reflect our view on its potential.ContentsPrevious pageNext page03Results:Net Zero Future50Our Net Zero Future50 reflects the diversit

40、y of the UK climate tech ecosystem.In selecting these companies,we considered factors such as underinvested areas,geographical spread,technological maturity,and founder backgrounds to ensure broad and impactful representation.Emissions and investments We have featured more start-ups in under-investe

41、d sectors relative to their emissions contribution.With the mobility and transport and energy sectors accounting for almost half of UK greenhouse gas(GHG)emissions,a large proportion of UK VC in climate tech investment has focused on these areas.While further investment is needed to fully decarbonis

42、e them,the carbon funding gap is smaller than in other carbon-intensive sectors such as industry and built environment.We also recognise the need for significant investment in GHG capture,removal and storage and climate change management and reporting,and included start-ups driving innovation in the

43、se areas.SectorUK GHG emissions*UK VC Investment*Number of start-ups in our Future50Mt CO2e%of total emissionsFunding raised(m)%of totalMobility and transport11229%203*22%9Energy7520%24527%7Food,agriculture and land use4913%14516%6Industry,manufacturing and resource management7119%9611%9Built enviro

44、nment7820%9310%9GHG capture,removal and storagen.a.n.a576%5Climate change management and reportingn.a.n.a698%3*UK GHG emissions 2023*This reflects global VC investment into UK climate tech companies for the 12 months to Sept-24 ref,PwC State of Climate Tech*Removed mobility mega deal valued at 0.8bn

45、 PwC Net Zero Future50April 2025|9ContentsPrevious pageNext pageGeographical distribution All our climate tech start-ups are headquartered in the UK,although many have operations overseas.Promising climate tech start-ups are springing up across the country but,as expected,there is a notable concentr

46、ation in London.The Cambridge area also boasts a significant number of start-ups due to spin-offs and incubation by Cambridge University,while other universities are similarly collaborating with founders to advance research.Climate tech is key to the governments industrialisation strategy,particular

47、ly in the regions.To support this,regional innovation hubs and clusters have been established.They are focused on developing and commercialising new technologies,promoting green job creation,and ensuring the transition to a green economy that benefits all parts of the UK.LondonSeafields SolutionsRar

48、e Earth GlobalSustainable planetSwitcheeQFlow(Qualis Flow)BiohmEtopiaSeratechBlack Bull BiocharMission Zero Technologiesev.energyPicloZero PetroleumAddionicsSeaboundRecycleyeCirculorNaked EnergyCambridgeOutfield TechnologiesLambda AgriBiozerocHyran TechnologiesMonumoXamplaQPT(Quantum Power Transform

49、ation)HutanBioNeutreenoEdinburghCCU InternationalE.V.A.BiosystemsEarth BloxSheffieldFuture GreensIceotopeYorkAzotic TechnologiesEarthSenseBirminghamGrid EdgeLancashireLiNa EnergyManchesterUrbanChainPlymouthAltilium Clean TechnologySwindonTetronics TechnologiesBristolFirefly Green FuelsKelpi(Kelp Ind

50、ustries LTD)GlasgowHVS(Hydrogen Vehicle Systems)ClitheroeSustineri HampshireIlikaLiverpoolUlemcoBerkshiretepeoNottinghamConcrete4Change HertfordshireStraw InnovationsEssexSuperdielectrics GroupEghamQiO Technologies9 Cambridge18 London1 Egham1 Berkshire1 Hampshire1 Plymouth1 Swindon2 Bristol1 Essex1

51、Hertfordshire2 Sheffield1 Birmingham1 Nottingham1 Liverpool1 Manchester1 Clitheroe2 York1 Lancashire3 Edinburgh1 GlasgowPwC Net Zero Future50April 2025|10ContentsPrevious pageNext pageFounder diversityBehind these innovations are the Future50 founders,who come from a diverse range of backgrounds fro

52、m young academics to seasoned entrepreneurs.The cohort reflects the richness and depth of the UK climate tech talent pool,and this diversity is essential for fostering innovation and breakthrough solutions.Technical maturity We have selected technologies at various stages of maturity,guided by their

53、 technology readiness level.Some are lab-proven,others have been successfully demonstrated in real-world settings,and a few are scaling commercially with paying customers.Our research indicated that the mobility and energy sectors have a higher proportion of more mature start-ups compared to other s

54、ectors,which aligns with the significant investment these sectors have already received.The technical maturity of our 50 innovators,categorised by sector,also reflects this.Level 4Level 5Level 6Level 7Level 8Level 9187101122Technology Readiness Level Lab proven In customer use Number of start-upsPwC

55、 Net Zero Future50April 2025|11ContentsPrevious pageNext pageDecarbonisation themesIn every sector,reaching net zero requires challenging the way we do things.We have tagged each of our start-ups to decarbonisation themes that cut across sectors and reflect how the technology reduces carbon emission

56、s.Demand reduction through efficiency:These solutions increase efficiency,thereby cutting the overall need for energy and the emissions that come with it.Examples include energy-saving technologies for buildings,fuel efficiency improvements in vehicles,and the use of waste heat boilers for industria

57、ls.Cost out,carbon out:These innovations reduce operating costs while simultaneously cutting carbon emissions.Examples include optimising electric vehicle(EV)charging to match times when electricity is greener and cheaper,or using less fertiliser in agriculture.Waste reduction and circularity:Waste

58、materials,from non-degradable plastics to agricultural run-off,present an opportunity for a more sustainable solution.These innovations use waste as a feedstock,reduce problematic waste,or produce long-life,recyclable or easily biodegradable materials.Biodegradable packaging,battery recycling,and co

59、nverting waste into fuel all fall into this category.Digitalisation:More accurate and insightful data enables better decision-making.These solutions harness the power of AI,machine learning and Internet of Things(IoT)technologies to gather and use data and analytics to power decarbonisation,whether

60、through supply chain analysis,building monitoring,or predictive modelling.Nature-based solutions:Working with nature,not against it,is essential.These solutions harness natural processes in the pursuit of net zero by replacing or augmenting traditional solutions to become more nature-positive,often

61、generating carbon credits in the process.Examples include seaweed feedstocks and agritech innovations.Resource transition:Decarbonisation goes beyond the energy transition and the shift from fossil fuels to renewables.Achieving net zero also depends on the development and use of cleaner raw material

62、s across industry,manufacturing,and the built environment.Examples include bio-based plastics,non-lithium batteries,and alternatives to cement.Disclaimer The company information presented in the results section has been derived from publicly available sources and discussions with management.Any metr

63、ics presented,including Technology Readiness Level(TRL),emissions reductions or cost savings,have been provided by the company but not independently verified by PwC.PwC Net Zero Future50April 2025|12ContentsPrevious pageNext pageMobility and transportFuture50 companies ULEMCoAddionicsHVSIlikaSustine

64、ri FuelsHutanBioFirefly Green FuelsZero PetroleumSeaboundApril 2025|13PwC Net Zero Future50ContentsContentsPrevious pageNext page3.1 Mobility and transportMobility and transport accounted for 29%of UK GHG emissions*and attracted 22%(203 million*)of UK climate-related VC investment*in the 12 months l

65、eading up to September 2024.Despite heavy investment,greater funding is needed to address the sectors high emissions.Although there have been some twists and turns on the road to mainstream adoption of EVs and their associated infrastructure largely due to changing government targets the path forwar

66、d for passenger cars is clear.The focus is now on other forms of transport such as heavy goods vehicles(HGVs),rail,shipping,and aviation,which are harder to abate.AcceleratorsEV maturation:The growing adoption of EVs has led to more funding and infrastructure investment.This maturation is driving ma

67、rket competition,involving both traditional automakers and new entrants,with significant R&D expenditures as companies strive to become market leaders.Economic incentives:The rising cost and volatility of fossil fuels can make sustainable transport options more economically attractive,especially whe

68、n coupled with tax breaks,rebates and grants.Mobilisation of government funds:Governments play a crucial role in greening the transport sector by setting emissions standards and educating the public.Significant government funding has also been directed to this sector in the form of subsidies for sus

69、tainable transport and investments in transportation infrastructure.BarriersSupply chain challenges:The increasing demand for precious metals for vehicle componentry,particularly for EVs,has created bottlenecks in the supply chain.Further electrification could result in ore depletion,and there are c

70、oncerns about the pollution and environmental damage caused by extracting these materials,as well as the social concerns around child labour and poor working conditions for miners.Safety regulations impacting innovation:While safety regulations are important in this sector,they can slow down the imp

71、lementation of new technologies due to the time-consuming and costly testing and approval process.The regulations themselves are not always appropriate for new technologies and regulatory bodies can take time to adapt.Greater collaboration between regulatory bodies and technology developers is requi

72、red.Infrastructure inertia:Building new infrastructure,such as electric charging and hydrogen facilities,requires significant investment.For these assets to be attractive to the private sector,investors need to have confidence in the long-term outlook.Many factors can dent this confidence,such as ch

73、anges in government policy or consumer sentiment.%of UK GHG emissions*29%UK climate-related VC investment*203mNo of start-ups in NZF509*UK GHG emissions 2023*This reflects global VC investment into UK climate tech companies for the 12 months to Sept-24 ref,PwC State of Climate Tech*Removed mobility

74、mega deal valued at 0.8bnPwC Net Zero Future50April 2025|14ContentsPrevious pageNext pageGrowth areasBattery technology:There are ongoing efforts to enhance the range and performance of batteries,particularly for heavier vehicles,while also focusing on using more sustainable and less hazardous mater

75、ials,improving lifespans,and advancing recycling processes.With increasing demand for EVs and other transport electrification,this provides a range of opportunities for both investors and start-ups.Greening HGVs:Approximately 80%of freight transport distance is conducted by trucks in the UK,and 20%o

76、f all UK domestic transport CO2 emissions is attributed to HGVs.The weight of HGVs creates performance challenges for electric batteries,resulting in range concerns for drivers.8 However,other methods are being explored such as hydrogen fuel cell vehicles(HFCVs),bio-fuel engines,and more.In 2023,the

77、 UK Government announced its 200m Zero Emission HGV and Infrastructure Demonstrator programme.9 While this is a promising start,with the rollout of 370 zero emission vehicles10 and the establishment of road freight infrastructure,substantial further investments will be required to fully transition t

78、he 550,000 or so HGVs across the UK.Sustainable Aviation Fuels(SAF):The UK government has introduced a SAF mandate,which commenced in January 2025,requiring that 2%of total UK jet fuel demand be met by SAF in 2025,increasing to 10%by 2030 and 22%by 2040.11 This intent signals opportunities for inves

79、tors to develop and scale SAF technologies.SAF is typically a biofuel that can be made from organic feedstock or non-hydrocarbon feedstock such as hydrogen.While bio-based SAF will have an important role to play,there is a particular need for further investment in non-bio alternatives which are not

80、constrained by the availability of feedstocks.Shipping:The sheer magnitude of operations make shipping a large contributor of GHG emissions.In the UK,maritime accounts for 20%of the countrys transport GHG emissions.The UK Chamber of Shipping has outlined a roadmap that includes a proposed 700 millio

81、n investment to make the UK a hub for clean shipping.12 8.PwC,State of Climate Tech 2024:Seeking an edge as deal-making slows.9.PwC,State of Climate Tech 2024:Seeking an edge as deal-making slows.10.UK Government,“Government Invests 200 Million to Drive Innovation and Get More Zero-Emission Trucks o

82、n Our Roads.”11.UK Government,“Sustainable Aviation Fuel Initiatives.”12.UK Chamber of Shipping,“Shipping Sets Out 700m Net Zero Investment Priorities.”April 2025|15PwC Net Zero Future50ContentsPrevious pageNext pageULEMCo retrofits existing diesel HGVs,other large vehicles and off-road machinery an

83、d equipment with hydrogen dual-fuel technology.This technology allows hydrogen to be mixed with diesel directly in a conventional combustion engine,supplied via onboard gas tanks,without altering the existing diesel engine.With ULEMCos system,vehicles can run with a mix of hydrogen and diesel or rev

84、ert to switch back to diesel when necessary,significantly reducing CO2 emissions while preserving full utility and productivity.This offers a cost-effective way to reduce emissions without a complete fleet or asset overhaul and can be adopted quickly.Impact ULEMCo estimates that for every kilogram o

85、f hydrogen used,approximately three litres of diesel-equivalent CO2 emissions are saved.Upgrading 30 vehicles in back-to-base fleets could save at least 250 tonnes of CO2 emissions per year.The prototype facility has capacity to retrofit over 100 vehicles annually.Highlights ULEMCo secured a contrac

86、t with Aberdeen City Council for hydrogen conversion of 35 vehicles,including refuse collection vehicles and road sweepers.The technology has been successfully demonstrated in the construction sector.ULEMCo holds patents for leak detection systems and intellectual property related to controlling hyd

87、rogen injections into engines.Company:ULEMCoFounder:Amanda LyneHQ:LiverpoolOperating regions:UKTRL:9Funding:Seed funding,government grants Resource transitionApril 2025|16PwC Net Zero Future50ContentsPrevious pageNext pageAddionics has designed a porous 3D current collector,using recycled copper,for

88、 use in automotive battery manufacturing.This design serves as a direct replacement for traditional flat copper and aluminium collectors,reducing raw material required per battery,increasing the energy density,and producing a longer-lasting cell.The 3D collector works with existing battery manufactu

89、ring equipment,minimising the need for expensive redesigns.It is chemistry-agnostic,making it equally applicable to lithium-ion,solid-state,and other battery chemistries.Addionics porous 3D current collector manufacturing facility operates at a 0.5 GWh scale and is already delivering products to ind

90、ustry-leading companies.Impact Addionics modelling indicates a potential CO2 saving of 6 tonnes over the lifetime of an EV with 77kWh of batteries.Addionics expects a reduction in copper and aluminium in batteries by up to 50%,which also decreases the space required per cell and the amount of casing

91、 and supporting infrastructure.By extending battery lifetimes,Addionics also reduces embodied carbon.Addionics says its technology accelerates the adoption of dry coating,significantly reducing time,energy,and emissions in the battery production cost by eliminating the drying and priming processes.H

92、ighlights Addionics is already collaborating with top automotive OEMs and battery makers.Recognised as a BloombergNEF Pioneer in 2022.Raised a total of$80 million,with the B round led by GM.Company:AddionicsFounders:Moshiel BitonHQ:LondonOperating regions:UK,US,Germany,Israel TRL:8 Funding:Series B,

93、various grantsCost out,carbon outResource transitionApril 2025|17PwC Net Zero Future50ContentsPrevious pageNext pageContentsPrevious pageNext pageHVS(Hydrogen Vehicle Systems)offers two solutions to target emissions from HGVs:aguidance system to help operators improve their driving efficiency and em

94、issions(AI-SEMAS),and a hydrogen-powered zero emission electric truck.AI-SEMAS can be easily installed in existing vehicle fleets,including diesel trucks.It uses in-built sensors to dynamically measure road topography,cargo weight and fuel weight.On pre-known fixed delivery routes,the system anticip

95、ates the road segment ahead and displays the scientifically optimal speed and approach.Unlike proof-of-concept hydrogen trucks built with a converted diesel chassis,HVSs vehicle is designed from the ground up for hydrogen and is therefore better optimised for hydrogen storage and electric drivetrain

96、.Impact HVSclaims its AI-SEMAS system can save up to 14%on hydrogen,10%on battery,and 5%on diesel,equating to approximately 5 tonnes ofCO2 saved per year per truck.The hydrogen-powered zero-emission electric truck replaces diesel trucks,eliminating associated emissions.Highlights Multiple patents ha

97、ve been granted for its AI-enabled emissions reduction technology.Accolades include the Greenly Gold Medal.Key strategic partners include Asda,Tesco and UPS.Company:HVSFounder:Abdul WaheedHQ:GlasgowOperating regions:UK,EuropeTRL:6Funding:Non-series equity raise,various grants Resource transitionDema

98、nd reduction through efficiencyApril 2025|18PwC Net Zero Future50ContentsPrevious pageNext pageIlika has been a publicly traded company on the AIM stock market since it was founded in 2004.However,it only started developing its larger Goliath solid-state batteries for EVs in 2018.Ilika markets these

99、 batteries,which are composed of an oxide solid electrolyte and a silicon anode,assafer,more efficient and more environmentally friendly alternative totraditional lithium-ion batteries.Solid-state batteries can operate safely at higher temperatures than lithium-ion,which can spontaneously ignite whe

100、n damaged.This allows for simpler safety systems,such as cooling and fire suppression.When used in EVs,solid-state batteries provide higher energy and power density,allowing for faster charging and lightervehicles with an equivalent range.Ilikas solid-state miniature battery technology has also been

101、 proven and commercialised as the Stereax product line for medical devices.Impact Ilika says its solid-state batteries are easier to recycle and reduce embodied carbon by 20%compared to lithium-ion batteries.They also enable a 20%weight reduction,which is particularly beneficial in EVs,where the bat

102、tery is a significant amount of the vehicle weight.Highlights Development partners for Ilikas Goliath EV battery include Agratas,BMW,and Fortescue.A pilot facility is under development in collaboration with APCs Automotive Transformation Fund.The technology is patented.Company:IlikaFounders:Graeme P

103、urdy,Prof Brian HaydenHQ:HampshireOperating regions:UKTRL:6 Funding:Various grantsResource transitionApril 2025|19PwC Net Zero Future50ContentsPrevious pageNext pageSustineri Fuels is developing a major new facility to convert biomethanol to sustainable aviation fuel(SAF),avoiding the complex gasifi

104、cation of solid waste typically required in traditional SAF projects.The process uses established components arranged in a custom configuration to produce a drop-in replacement fuel.Sustineri explains that biomethanol offers a practical and scalable alternative to current feedstocks such as crop-bas

105、ed or hydrotreated esters and fatty acid(HEFA)SAFs,which often face supply and demand challenges.Sustineri Fuels take a circular approach.Heat generated in the process is used to self-power the plant,with excess energy sent to the grid.Unreacted gases are recycled through the system to be used again

106、,and excess water is stored to be repurposed later.With the technology proven,the company is focused on process efficiency and commercialisation to ensure the SAF is viable at scale.Sustineri Fuels notes that they do not rely on solid waste gasification technology,which has proven challenging to sca

107、le economically.Impact Sustineri Fuels aim to produce over 250 million litres of SAF per annum by 2030,which could result in carbon intensity savings of approximately 80%versus fossil-based aviation fuel,equating to around 450k tonnes of CO2 saved.There is potential to use e-methanol in the future,w

108、hich could deliver further carbon savings and support the UK SAF Mandates separate Power to Liquids(PtL)quota.Highlights Significant infrastructure finance has been secured for project construction.Sustineri Fuels,with its technology partner,is hoping to gain industry approval for its SAF in the com

109、ing months.Company:Sustineri FuelsFounders:Karl Hylands,Steve Baker,Neil Bruce OBE,Mike Read,Richard NealeHQ:ClitheroeOperating regions:UKTRL:9Funding:Infrastructure capex committedResource transitionApril 2025|20PwC Net Zero Future50ContentsPrevious pageNext pageHutanBio produces a zero-carbon biof

110、uel for long-distance transportation using a recently discovered,oil-producing family of marine microalgae cultivated through automated agriculture techniques.The extracted bio-oil can be used as a direct drop-in replacement for marine fuel and as a feedstock for sustainable road diesel(HGVs)and avi

111、ation fuel(SAF).The algae grows in saltwater contained in photobioreactors,developed by HutanBio and engineered for performance and cost.The algae feed on CO2 and nitrogen,storing oil as a fat reserve.After the saltwater is drained,the oil is extracted,leaving behind a nutrient-rich biomass high in

112、protein and carbohydrates which provides an excellent resource for animal feed.HutanBio is targeting deployment at scale in coastal desert regions where sunlight and sea water are readily available for high efficiency algae growth.This creates value from land that is not suitable for agriculture and

113、 creates green jobs inthese areas.Impact HutanBio has found that its algae captures 1.83 tonnes of CO2 for each tonne of algal material grown and can replace fossil-based fuels across multiple transport applications.Unlike many forms of biofuel production,HutanBio uses saltwater instead of freshwate

114、r and does not contribute to deforestation.HutanBio algae captures CO2 directly from the atmosphere,but grows more quickly with higher densities of CO2,so it could be usedwith heavy emitters such as cement works.Highlights The core intellectual property is a family of microalgae discovered through e

115、xtensive sampling and stress testing of marine colonies.Accolades include the Cambridge Independent Innovation Awards(2024),the 21-to-Watch Awards(2023),and Startups 100 Index Top 100(2025).Company:HutanBioFounders:John Archer,Noor Azlin Mokhtar,Suhaiza Jamhor,Paul BeastallHQ:CambridgeOperating regi

116、ons:UK,MalaysiaTRL:6 Funding:SeedResource transitionNature-based solution April 2025|21PwC Net Zero Future50ContentsPrevious pageNext pageFirefly has developed a pathway to convert sewage into sustainable aviation fuel(SAF).Sewage biosolids,typically used as low-grade agricultural fertiliser,face in

117、creasing challenges due to PFAS contamination,leading to more being landfilled or incinerated.Firefly offers an alternative by using these biosolids as a feedstock for SAF.The SAF is produced throughhydrothermal liquefaction(HTL),which uses high pressures and relatively low-energy heat to convert se

118、wage into biochar and crude oil.The crude oil is refined through hydrotreating and fractionation using conventional methods.Firefly,in partnership with Chevron Lummus Global,has developed a new catalyst system to make this process energy-efficient,cost-effective,and scalable for SAF production.Firef

119、ly have noted that independent analysis suggests that the properties of the resulting SAF are almost identical to conventional A1 jet fuel.Impact Fireflys processclaims a 92%reduction in life cycle carbon compared to traditional fossil-based jet fuel,potentially saving 3.6MT of CO2e per year with fe

120、edstock volumes already secured from partners.Highlights The first commercial-scale HTL facility is expected to be operational by the end of 2025,with plans for a full commercial-scale refinery by 2029.An offtake agreement has been signed with Wizz Air,which has committed to purchasing 525k tonnes o

121、f fuel over 15 years.Agreements are in place with UK water companies,as well as strategic partnerships with Synagro in the US and Sanepar in Brazil to supply feedstock.Accolades include Aviation Innovation of the Year(2024),Aviation Strategic Investment of the Year(2024),and Waste Water Innovation o

122、f the Year(2024).Company:Firefly Green FuelsFounders:James Hygate,Paul HilditchHQ:BristolOperating regions:UK,US,BrazilTRL:Biocrude Hydrotreatment 8,Hydrothermal Liquefaction of biosolids 7Funding:Series A,government grantsResource transitionWaste reduction and circularity April 2025|22PwC Net Zero

123、Future50ContentsPrevious pageNext pageZero Petroleum usesits proprietary chemistry DirectFT to manufacture synthetic fuel,known as efuel,from green hydrogen(sourced from water)and non-fossil carbon(sourced from CO2 in the air or biogenic sources).TheCO2released when burning Zero Petroleums fuel matc

124、hes the CO2 captured in its production,creating a sustainable cycle when powered by renewable energy.Zero Petroleum states that these synthetic fossil-free fuels enable all forms of mobility to operate at 100%sustainably without requiring changes to vehicles or infrastructure distributions.Criticall

125、y,theyretain the energy density of liquid fuels,which is imperative for most mobility sectors,including aviation,agriculture,and road,rail,and sea freight.Zero Petroleums technology can produce all types of fuels,as well as carbon-neutral equivalents of fossil fuel based chemicals,such as plastics.I

126、mpact Zero Petroleumanticipates that synthetic fuel manufacture will scale to meet global demand at levelscomparable to the current fossil fuel industry,andcould achieve cost parity with fossil fuels within the next decade.Highlights Zero Petroleum is the official partner of the Formula 1 team Stake

127、 F1 Kick Sauber.Other notable partnerships include Airbus,Boeing,the Royal Air Force,Rolls-Royce,Qantas,ADNOC,Toshiba and Intertek.Accolades include the Low Carbon Transport Award at the British Renewable Energy Awards in 2023 and the Guinness World Records title of first aircraft powered by synthet

128、ic fuel in 2021.Company:Zero PetroleumFounders:Paddy Lowe,Professor Nilay Shah OBE,Anna Danshina,Doug McKiernanHQ:LondonOperating regions:UK,USTRL:6 Funding:Equity,revenue and government grantsResource transitionApril 2025|23PwC Net Zero Future50ContentsPrevious pageNext pageShipping has traditional

129、ly been difficult to decarbonise,as large diesel engines using inexpensive,dirty fuels are ubiquitous.However,Seabound has developed carbon capture systems for cargo ships.The technology uses calcium looping,where calcium hydroxide reacts with CO2 to form calcium carbonate.This inert solid is then o

130、ffloaded in port,where it can be processed to remove the CO2 for either sequestration or use in electro-fuel production.Seabounds system is designed for easy retrofit and is supplied in the form of modified 20 ft shipping containers.Seabound intends to set up secondary processing facilities near key

131、 ports to ensure it can offer a full service to its customers.Impact Seabound states that its system can capture up to 95%of the CO2 from ship exhausts.Sulfur emissions are also captured through the Seabound system.Highlights The 2023/4 pilot saw the technology fitted to a container ship and success

132、fully capture CO2 emissions at 80%efficiency during normal operations.The founders were listed on the Forbes 2023 30 under 30 Europe list for Social Impact,the MIT Tech Review Innovators Under 35 Europe and the company won Maritime UK Startup of the Year Award 2024.Other accolades include the Keelin

133、g Curve Prize(2024),and Riviera Tanker Entrepreneur of the Year(2023).Company:SeaboundFounders:Alisha Fredriksson and Roujia WenHQ:LondonOperating regions:GlobalTRL:7/8Funding:SeedResource transitionApril 2025|24PwC Net Zero Future50ContentsPrevious pageNext pageEnergyFuture50 companies PicloSuperdi

134、electricsev.energyNaked EnergyIceotope TechnologiesLiNa EnergyUrbanChainCirculorPwC Net Zero Future50April 2025|25ContentsPrevious pageNext page3.2 EnergyThe UK has made good progress in decarbonising its energy sector.It generated 20%of total UK emissions*but energy-based start-ups attracted 27%(24

135、5m)of UK climate-related VC investment*in the 12 months leading to September 2024.This reflects the demand for renewable energy and increased electrification of applications,as well as the maturity of technologies in this sector.AcceleratorsEnergy security:Global conflicts have highlighted the vulne

136、rability of energy supply to external shocks,prompting nations to seek greater self-sufficiency and control over their energy sources.In response,the UK has increased its use of renewables and is targeting 95%clean energy supply by 2030.Renewables including wind,solar,biomass,and hydro accounted for

137、 over 50%of the countrys energy generation in 202413,while coal has been eliminated for the first time since 1882.14 Government push:The UK Government has set new interim emissions reductions targets to ensure the country remains on track to reach net zero by 2050 and has set out a detailed action p

138、lan for reducing emissions in the energy sector.They have pledged substantial funding for offshore wind and solar projects and are encouraging community and local renewable energy projects through grants and subsidies.Demand for clean energy:Growing public awareness and advocacy for climate action,a

139、long with government-set targets and financial incentives,are driving increased consumer and corporate demand for clean and renewable energy sources.In addition,factors such as population growth,the electrification of transport and heating,and the rise of AI technologies are further increasing energ

140、y demand.It is essential that the development of efficient climate technologies outpace this growth to meet future needs.BarriersHigh costs:Many technologies within the energy sector are capital-intensive,with substantial upfront costs and long payback periods that can deter investment.This challeng

141、e is often compounded by immature commercial models.For example,a recent PwC survey found that high capital cost was the biggest barrier for large energy users to invest in behind-the-meter energy efficiency or energy management technologies.15Reform bottlenecks:Delays in planning consents,grid conn

142、ection backlogs,and slow progress in grid reforms and upgrades are hindering the deployment of innovative technologies and delaying the transition to a sustainable energy system.Policy support and reforms are essential to unlock investment and the Government is seeking to improve on this as part of

143、Clean Power 2030.Skills shortage:A lack of skilled labour is slowing the build-out of critical infrastructure and the deployment of innovative climate technologies.Without a sufficient workforce to meet industry demands,the scalability of new projects becomes uncertain,deterring investors and delayi

144、ng progress.Addressing this requires a focused effort to scale-up education and training programs to bridge the skills gap.13.UK Government,“Energy Trends:September 2024.”14.BBC News,“Electricity and Gas Prices Will Remain High for Years,Business Group Warns.”15.PwC,Powering the UKs path to growth:P

145、wC UK Energy Survey 2025.*UK GHG emissions 2023*This reflects global VC investment into UK climate tech companies for the 12 months to Sept-24 ref,PwC State of Climate Tech%of UK GHG emissions*20%UK climate-related VC investment*245mNo of start-ups in NZF507PwC Net Zero Future50April 2025|26Contents

146、Previous pageNext pageGrowth areasSmart grids:The rise of renewable energy generation has led to increased intermittency of electricity supply.Smart grids,including grid aggregators,use data analytics,the IoT and AI to help optimise the energy use.They are crucial to help effectively integrate renew

147、able energy,efficiently matching supply and demand to enhance grid stability,and create a more stable energy system.Energy storage:Both grid-scale and local energy storage is essential for maximising the benefits of intermittent energy sources and maintaining a consistent,resilient energy supply.Ene

148、rgy storage also helps integrate a higher percentage of renewable energy into the grid and can reduce the need for expensive infrastructure investments.By storing energy when it is cheap(during low demand periods)and using it when it is expensive(during high demand periods),significant cost savings

149、can be achieved.Sector coupling:Heat and energy are wasted in many processes.In the UK,around 50%of primary energy used to generate electricity is lost in conversion,transmission and distribution.16 There is growing research into synergies between sectors and new technologies to facilitate the redir

150、ection and repurposing of wasted energy to optimise energy use.AI and data centre demand:The National Energy System Operator(NESO)anticipates that electricity demand from UK data centres will quadruple from 2025 to 2030,driven by advancements in AI and off-site computation needs.17 Plans are underwa

151、y to develop the largest data centre in Europe in the North East of England.18 This will put significant pressure on the grid.Considering this,the development and adoption of new technologies to improve the energy efficiency of data centres,including advanced cooling technologies,are crucial.16.Depa

152、rtment for Business,Energy&Industrial Strategy,DUKES 2024 Chapter 5:Renewable Energy,UK Government,2024.17.BBC News,“The Boss of National Grid Warns of Increasing Energy Demand.”18.UK Government,“PM Tells US Investors Britain Is Open for Business as He Secured Major 10 Billion Deal to Drive Growth a

153、nd Create Jobs.”April 2025|27PwC Net Zero Future50ContentsPrevious pageNext pagePiclo is a software company with a mission to decarbonise the grid by making energy networks smarter,more flexible,and more sustainable.Piclo has established a marketplace for Distributed Energy Resources(DER),to match b

154、uyers typically grid companies and distribution/transmission system operators with flexible sellers,such as EV fleet and battery owners.Beyond the UK,Piclo has a growing presence in Europe,USA,and the Asia-Pacific.Impact Piclo has over 350,000 registered flexible assets,representing more than 26 gig

155、awatts(GW)of flexible energy capacity.Piclo reports saving over 9,000 tonnes of carbon to date by enabling grid operators to call on low-carbon sources for flexibility.Highlights High profile partners include National Grid in the UK and EDP in Portugal.Accolades include the 2024 Global Cleantech 100

156、 and Top Impact Startups on Norrsken Impact/100(2023)lists.Company:PicloFounders:James Johnston,Alice Tyler,Andy KilnerHQ:LondonOperating regions:UK,Europe,US,AustraliaTRL:9Funding:Series B Cost out,carbon outApril 2025|28PwC Net Zero Future50ContentsContentsPrevious pageNext pageSuperdielectrics ha

157、s developed an energy storage device that uses aqueous polymer technology,similar to that used in contact lenses,with enhancedelectrochemical properties.This innovation creates a hybrid between a battery and a supercapacitor.The materials used are recyclable and free from critical metals,reducing th

158、e environmental impact and strain on scarce resources.Key features of the product include fast charging and discharging,scalability,improved safety,high recyclability,and lower costs compared to traditional battery technologies.Research and development is ongoing,but proposed applications include sm

159、all lightweight vehicles such as e-bikes,various stationary home appliances and home energy storage,with hopes to expand to EVs,aviation,and vertical farming in future.Impact Superdielectrics says it has improved the energy density of its product by over nine times in two years.The device can charge

160、 faster than lead-acid and many lithium-ion batteries,and can effectively charge from intermittent sources.Superdielectics estimates that 93%of the material in its products can be recycled.Highlights Superdielectricswere named as a WIRED Trailblazer in 2024.It launchedits Faraday 1 energy storage te

161、chnology at the Institute of Energy and Technology in London in 2024.Partnerships are being established with large multinational companies to propel business growth.Company:SuperdielectricsFounders:Jim Heathcote,Dr Donald Highgate,Nigel SpenceHQ:EssexOperating regions:UKTRL:6/7Funding:Series B Digit

162、alisationResource transitionApril 2025|29PwC Net Zero Future50ContentsPrevious pageNext pageev.energy offers a smart charging platform and app to bridge the gap between energy providers and EV users.The platform uses advanced algorithms and real-time data to manage and optimise the charging process,

163、making it more efficient,cost-effective and environmentally friendly.By optimising EV charging times and taking advantage of off-peak electricity,ev.energy reduces grid demand,carbon-intensive energy use,and user charging costs.ev.energy has three main products.ev.insight helps energy providers unde

164、rstand and plan for the EV roll-out,including impacts on the grid.ev.engage bridges the gap between energy providers and EV charging,enabling energy companies to incentivise drivers to charge at the right time.ev.flex facilitates the creation of virtual power plants(VPPs),using EV batteries to tempo

165、rarily top up the grid.Impact By optimising charging and renewable energy integration,ev.energy estimates carbon emissions can be reduced by up to 70%while saving users 30%on their charging costs.In 2024,the ev.energy platform saved over 780 tonnes of carbon.Highlights The ev.energy platform is avai

166、lable to 80-90%of EVs currently registered in the UK.ev.energy is B-Corp certified.Accolades include Utility Week Flex Awards Finalists(2024),CleanTech 100(2023 and 2024),S&P Platts Global Energy Awards(2022),Volkswagen Future Mobility Incubator(2020)and EDF Energy Bluelab Pulse Innovation Challenge

167、 Winner(2019).Company:ev.energyFounder:Nick Woolley HQ:LondonOperating regions:US,UK,Europe,Australia TRL:9 Funding:Series B,various grantsDigitalisationCost out,carbon outApril 2025|30PwC Net Zero Future50ContentsPrevious pageNext pageNaked Energys Virtu solar heat and power collectors are designed

168、 for commercial and industrial applications.According to Solar Keymark data,they offer the highest energy density for flat roofs.The VirtuHOT model heats water up to 120C,while VirtuPVT combines solar photovoltaics(PV)with solar thermal technology,generating electricity and heat up to 75C.Virtu prod

169、ucts require less space than standard solar PV and solar thermal products.They have lower installation and maintenance costs due to their modular design and durability in extreme weather.They also efficiently pre-heat existing systems,like heat pumps,thus reducing carbon emissions.The target custome

170、rs include businesses with a constant heat demand,such as hospitals,residential developments,leisure centres,hospitality as well as various forms of manufacturing including food and beverage.Naked Energy also offers Clarity24-7,a platform providing performance data and remote monitoring capabilities

171、.Impact Naked Energy hascompleted 100+Virtu projects in 11 countries,displacing fossil fuels and saving 1500 tonnes of CO2.Naked Energy states that VirtuPVT achieves 4 times the CO2 savings per m2 of available roof space compared with standard solar PV panels.Highlights Virtu uses patented technolog

172、y.VirtuPVT is the worlds first hybrid evacuated tube collector to receive TV Rheinland certification.Accolades include Innovation Zero Award(2024)for the Built Environment,Mature Solutions category and Green Product Award(2023)in the Building Components category.The British Library commissioned the

173、largest solar thermal installation in the UK,spanning 712.5 m2,using Naked Energys VirtuHOT and VirtuPVT collectors.In a strategic partnership with E.ON Energy Infrastructure Solutions,Naked Energy provides renewable heat solutions for commercialand industrial decarbonisation projects.Company:Naked

174、EnergyFounder:Christophe WilliamsHQ:Crawley/London Operating regions:UK,Europe,USTRL:9Funding:Series B Resource transitionApril 2025|31PwC Net Zero Future50ContentsPrevious pageNext pageIceotope specialises in liquid cooling AI data centres.It provides innovative direct-to-chip and chassis-level imm

175、ersion cooling technologies designed to improve compute density and utilisation,enhance energy efficiency,reduce water consumption,and lower the total cost of ownership for data centre operators.Iceotopes technology is particularly well-suited for AI workloads,high-density computing,and applications

176、 requiring maximum thermal efficiency,making it a key player in the shift towards energy-efficient data centres.Its liquid cooling solutions use dielectric coolants to remove heat directly at the source,eliminating the need for traditional air-cooling infrastructure.By using fully sealed,rack mounte

177、d systems,Iceotope says that its technology eliminates operational noise,improves component reliability,and allows data centres to operate efficiently.Impact Iceotope states that its liquid cooling technology can reduce total data centre energy consumption by up to 40%compared to traditional air coo

178、ling systems.The solution also reduces water consumption by up to 96%,addressing critical environmental concerns.Iceotope explains that 100%of the heat recaptured from cooling electronics can be repurposed within the building ecosystem for applications such as central and water heating.Highlights Ic

179、eotope holds a robust intellectual property portfolio with nearly 150 granted and pending patents.A full launch of the product portfolio is planned for 2025,aiming to meet the escalating demands of modern AI workloads from the cloud to the edge.The company collaborates with major OEMs(e.g.,Dell,HPE,

180、Gigabyte),component manufacturers(e.g.,Intel,AMD,NVIDIA),and fluid manufacturers(e.g.,BP,Valvoline,Castrol,Exxon Mobil,Shell)to deliver cutting-edge cooling solutions.Iceotope has received numerous awards,including CRN Data Center 50:The Hottest Data Center Companies of 2025,Environmental Product of

181、 the Year and SDC Awards:Digital Transformation Company of the Year.Company:Iceotope Technologies Founder:Peter Hopton HQ:SheffieldOperating regions:United States,Europe,UK,Asia Pacific,Middle East TRL:8 Funding:Series B,government grantsDemand reduction through efficiencyApril 2025|32PwC Net Zero F

182、uture50ContentsPrevious pageNext pageLiNa Energy is developing and commercialising a low-cost,solid-state sodium battery used for renewable energy storage.LiNas innovative intellectual property enhances the performance of sodium batteries made from salt.The use of abundant raw materials,coupled with

183、 inherent safety features,enables LiNa to simplify the design of its energy storage systems,offering significant cost savings and improved performance compared to lithium-ion systems.LiNas advanced technology platform allows the customisation of extended charge and discharge times within the battery

184、 cells.This capability enables LiNa to address the growing demand for long-duration energy storage solutions needed to tackle the duck curve,i.e.,storing many hours of low-cost solar energy to replace hydrocarbon use when the sun is not shining.LiNa isprioritising emerging markets,where resilient,lo

185、ng-duration energy storage is crucial to harness the solar potential of the Global South and avoiding continued reliance on the worst emitting current fuels,such as coal.Impact LiNa suggests its system can reach over 92%round-trip efficiency(including heat losses from maintaining the cells at operat

186、ing temperature),approximately 10%better than a lithium battery of similar size.The absence of lithium and cobalt in the batteries minimises environmental and social impacts associated with mining these critical materials.Testing with ACWA Power confirmed that LiNa systems can maintain over 90%effic

187、iency,even under extreme temperature conditions ranging from-20C to+55C.Highlights LiNa Energy delivered its first energy storage systems to Indias largest integrated power company,Tata Power.LiNa Energy has secured agreements to develop a commercial pipeline exceeding 100 MWh in projects throughout

188、 the UK,Europe,Asia,and the Middle East.LiNa Energys technology is patented.Company:LiNa EnergyCEO:Will Tope HQ:LancashireOperating regions:UK TRL:7 Funding:Seed,government grantsResource transitionApril 2025|33PwC Net Zero Future50ContentsPrevious pageNext pageUrbanChain believes the energy market

189、was not built for todays energy needs.It was designed for large fossil fuel assets,benefiting major companies with power purchase agreements(PPAs),and restricts broader renewable adoption.UrbanChains solution is its blockchain-based system,eChain,which connects renewable energy generators with local

190、 users,supporting the transition to a decentralised renewable energy market.By promoting,generating and consuming locally,investors save on transmission losses and costs,and improve the viability of investing in renewable energy.The platform enables direct trading between consumers and producers,byp

191、assing traditional suppliers to offer higher returns for generators and savings for consumers,while reducing reliance on the volatile wholesale market.While UrbanChain cannot currently sell directly to residential customers,it is working on pilots with local authorities and housing associations to a

192、ddress fuel poverty.Impact UrbanChain says its founder has helped steer UK policy,including the legislation change in February 2025 that will reduce costs for smaller-scale renewable generators by up to 16%.UrbanChain states it has enabled over 230GW of renewable power sales since 2022,saving about

193、475k tonnes of CO2 vs non-renewable energy sources.UrbanChain helps generators get long-term stable prices for energy,encouraging renewable investment.Highlights UrbanChain achieved 10 x revenue growth in FY 2024,earning recognition as the third fastest-growing tech company in the UK by The Times.Ur

194、banChain has partnered with Equans to deliver a Virtual Power Plant(VPP)in Dudley,UK,to create the countrys first net zero neighbourhood.It has also partnered with Together Housing to deliver green energy to social housing.UrbanChain is part of the UKs Power Network SHIELD project to support low-inc

195、ome districts and the award-winning net zero terraced streets project to enable community heat solutions.Plan to launch in the US in 2025.Company:UrbanChainFounder:Somayeh TaheriHQ:Manchester Operating regions:UKTRL:9Funding:Series A,government grantsCost out,carbon outApril 2025|34PwC Net Zero Futu

196、re50ContentsPrevious pageNext pageCirculor is a supply chain traceability company that uses distributed ledger and AI to track where materials originate,how they move through production,and their final use in products.The platform offers end-to-end visibility by tracking the physical flow of materia

197、ls as they change state from source to manufacturer.It connects all supply chain participants and provides reliable,granular data all the way to Tier N(the deepest level of the supply chain).Companies work with Circulor to gain full visibility of their inherited upstream activity,mitigate risks,impr

198、ove responsible sourcing,protect their brands,and prove compliance with growing global regulations.To date,the majority of Circulors work has focused on batteries and critical minerals,where Circulors traceability helps downstream manufacturers create more responsible,sustainable,and circular batter

199、y value chains.Impact Circulor reports that approximately 77%of global cell manufacturers,by capacity,provide data through their platform.More than 159 million battery modules have traceability provided by Circulor.By the end of 2025,Circulor estimates that it will have helped manufacturers avoid ov

200、er 1 million metric tons of CO2e from their supply chains.Highlights Circulor is the battery traceability partner for eight major automotive brands,including Volvo,which launched the worlds first battery passport for its customers with Circulor.The company has strategic partnerships with Accenture a

201、nd Rockwell.Circulor has been named in the Global Cleantech 100 for three consecutive years.Company:Circulor Founder:Douglas Johnson-Poensgen,Veera Johnson HQ:LondonOperating regions:UK,Europe,US,Singapore TRL:9Funding:Series BDigitalisationWaste reduction and circularity April 2025|35PwC Net Zero F

202、uture50ContentsPrevious pageNext pageFood,agriculture and land useFuture50 companies Lambda AgriAzotic TechnologiesOutfield TechnologiesRare Earth GlobalFuture GreensSustainable PlanetApril 2025|36PwC Net Zero Future50ContentsPrevious pageNext page3.3 Food,agriculture and land useThe food,agricultur

203、e and land use(FALU)sector accounts for 12%of the UKs GHG emissions*and received 13%(145m)of UK climate-related VC investment*in the 12 months leading to September 2024.Notably,technology for climate Adaptation and Resilience(A&R)is a prominent theme in the FALU sector.In the first three quarters of

204、 the year,45%of the total UK A&R deals were concentrated in this sector,more than in any other sector.AcceleratorsClimate risk:Climate risks pose a significant threat to food security,as temperature changes and extreme weather events can drastically affect crop yields and disrupt the export and impo

205、rt of goods.This vulnerability highlights the urgent need for substantial investment in adaptation and resilience(A&R)agricultural practices and technologies.Addressing climate risks through strategic investments in this sector is essential to ensure a stable and sustainable food supply for the futu

206、re.Environmentally oriented consumers:By sourcing green and ethically farmed products,which utilise by-products and waste,a number of agriculture-dependent businesses such as restaurants and supermarkets can meet consumer demands for more sustainable products while meeting their own net zero goals.H

207、owever,this can be expensive,at least in the short term,which can be challenging when consumers are already battling high food costs.Chemical use:There are increasing restrictions on fertiliser and chemical use in agriculture to protect environmental and human health.Regulations are aimed at reducin

208、g synthetic inputs on soils.For example,the Nitrate Pollution Prevention Regulation(2015)restricts the use of nitrate-based fertilisers to reduce nitrate run off.The UKs Agricultural Transition Plan will also introduce the Environmental Land Management(ELM)scheme,which provides financial incentives

209、for sustainable farming practices,including reduced use of chemical inputs in favour of biological alternatives for fertilisers and crop protection.BarriersProducer resistance:Farmers are increasingly resistant to pressures from environmental NGOs and regulatory bodies,which are driving policy chang

210、es and imposing higher taxes and financial penalties.Currently,sustainable farming practices tend to be either more expensive and/or generate lower yields.This,combined with higher food prices and slower uptake from consumers,results in reduced returns for farmers.Although the government is mandatin

211、g a transition to greener farming,many farming communities feel that they are not receiving adequate financial support to facilitate this change.R&D investment:Insufficient investment in R&D limits the availability of new technologies that could help farmers to implement sustainable agricultural pra

212、ctices more easily.This lack of investment also affects their ability to maintain profits and make a return on capital outlays,which are often required in new technologies/equipment.Education:Traditional farming practices are often deeply rooted,with many communities having a strong attachment to co

213、nventional farming methods which,in many cases,currently still generate better yields and financial returns.Farmers need to be supported to take up more sustainable practices and provided with the support and tools to implement these.%of UK GHG emissions*13%UK climate-related VC investment*145mNo of

214、 start-ups in NZF506*UK GHG emissions 2023*This reflects global VC investment into UK climate tech companies for the 12 months to Sept-24 ref,PwC State of Climate TechPwC Net Zero Future50April 2025|37ContentsPrevious pageNext pageGrowth areasBio-stimulants/crop protection:There have been significan

215、t innovations in biological crop protection and stimulants driven by the need to reduce chemical inputs while enhancing crop productivity and resilience.Examples include microbial bio-stimulants and bio-pesticides,such as bacteria and fungi,which target specific pests and diseases.These advancements

216、 support the long-term viability of farming systems as well as benefiting the environment.Food waste:In the UK,10.7 million tonnes of food waste are generated annually.19 This presents a significant market opportunity to develop waste management technologies that transform organic waste into resourc

217、es,such as biofuel or nutrient-rich digestate,enhancing resource efficiency and generating revenues.There is also an opportunity to develop solutions for better storage and transport of food to reduce food waste at the source.These technologies are not only needed in the UK but can be exported to de

218、veloping markets where most food is lost across the supply chain.Internet of Things(IoT):The use of sensors,drones,AI and real-time crop and livestock monitoring provides farmers with valuable insights on how to optimise resource use and detect problems early.This enables precision agriculture and e

219、nhances supply chain efficiency.IoT technology offers significant benefits that drive increased crop yields,better return on investment,and reduced emissions by measuring precisely what the crop needs.19.WRAP,“Food Surplus and Waste in the UK:Key Facts,”November 2023.PwC Net Zero Future50April 2025|

220、38ContentsPrevious pageNext pageLambda Agri has developed an active molecular compound which absorbs UV light and re-emits itas photosynthetically active radiation to enhance plant growth,increasing crop yields and reducing energy consumption associated with traditional greenhouse lamps.This compoun

221、d is added to spray paint and polytunnel films at the point of manufacture.Lambda Agri explains thatits product is the only compound offered as part of spray paint in the market,and it iscurrently working alongside greenhouse farmers to trial the product.Impact Lambda Agri estimates it could save 55

222、 million tonnes of CO2e emissions by 2050.The company also claims its product could increase revenues by 35,000 and reduce costs by 5,000 per year per acre for farmers.Highlights Lambda Agri has patented the active chemical compound added to the spray paint.The company has been recognised by The Roy

223、al Society of Chemistry,Tech Nation Rising Stars,Santander X,Greentech Europe,and others.Company:Lambda AgriFounders:Monica SaavedraHQ:CambridgeOperating regions:UKTRL:5Funding:Pre-seed/seed,government grants Cost out,carbon outApril 2025|39PwC Net Zero Future50ContentsPrevious pageNext pageAzotic m

224、anufactures a proprietary nitrogen-fixing bacteria that colonises crops andconverts atmospheric nitrogen into a form that plants can use.This process supplements conventional crop nutrition practices by enhancing crop yield or allowing for reduced nitrogen fertiliser use while maintaining yield.Azot

225、ic explains that its bacteria are naturally occurring and food-grade.Unlike similar technologies,which are located around plant roots or in intercellular spaces,Azotics bacteria act directly inside plant cells.While manufactured in-house to maintain control of the process and its IP,Azotic is workin

226、g with a variety of agricultural distributors to ensure broad accessibility of its product.Impact Nitrogen fertilisers are energy and carbon intensive to produce and can pollute water ecosystems.Azotic states that its bacteria can reduce the need for nitrogen fertiliser by up to 20%without yield los

227、s.Highlights Azotics technology is patented.Over 2 million acres treated to date,with over 600 trial results on various crops recorded by the company.It was initially licensed in North America,where it is predominantly used in the Midwest,but is now available in Europe and growing in markets such as

228、 Germany,Poland,Turkey,UK and Southeast Asia.Company:Azotic TechnologiesFounder:No longer with company HQ:YorkOperating regions:UK,Europe,North America and othersTRL:9 Funding:Seed,various small business grantsCost out,carbon outDemand reduction through efficiencyApril 2025|40PwC Net Zero Future50Co

229、ntentsPrevious pageNext pageOutfield Technologies has built a cloud-based platform to help fruit growers,such as those managingorchards or vineyards,improve decision making.Using images from relatively inexpensive off-the-shelf drones and machine learning,Outfield automatically assesses key metrics

230、including tree size,blossom levels and fruit count.This helps farms improve yields while reducing agrichemical and water usage,and primes the onward supply chain in advance of harvest.Outfield can also directly inform precision farming equipment to target local application of chemical treatments,inc

231、reasing productivity and reducing overall chemical use.To enhance user-friendliness,Outfields platform generates flight plans that enable growers to conduct surveys themselves at the click of a button.Impact In case studies,farmers have been able to reduce the use of fertiliser and diesel by 50%by u

232、sing Outfield maps to deploy precision spraying.In addition to reducing agri-chemical use,the platform also helps to reduce food waste by increasing the proportion of saleable fruit grown.Highlights Outfield Technologies has been conducting trials with some of the largest growers in the UK and US.Ov

233、er 3,800 hectares have been surveyed to date,generating over 1,300 reports.The company isinvolved with various research projects with top horticultural research institutions,including Cornell University,Washington State University and University of Massachusetts in the US,and the National Institute

234、of Agricultural Botany in the UK.Company:Outfield TechnologiesFounders:Oli Hilbourne,Jim McDougall HQ:CambridgeOperating regions:UK,USTRL:8Funding:Seed,grants including Innovate UK DigitalisationDemand reduction through efficiencyApril 2025|41PwC Net Zero Future50ContentsPrevious pageNext pageRare E

235、arth Global operates a B2B marketplace that connects buyers with sellers oflow-carbon products made from industrial hemp.The company aims to support growers to improve crop quality for competitive pricing and product compliance.This localises supply chains and reduces reliance on harmful materials s

236、uch as soy,which is linked to deforestation,and fossil fuels.Focusing on the use of hemp seed in fish feed,Rare Earth Global develops intellectual property through joint research with leading institutes.They are currently collaborating with the Neville Centre of Excellence in Cement and Concrete to

237、commercialise structural hemp-based concrete from the stalk.By adopting Rare Earth Globals hemp products,companies are able to reduce their scope 3(supply chain)emissions.These customers can also gain access to carbon credits and life cycle data to meet their net zero and broader environmental targe

238、ts.Impact Rare Earth Global estimates that hemp sequesters approximately 1.5 tonnes of CO2 per tonne harvested.In applications where this carbon can be locked in,such as concrete,hemp products can be carbon negative.The use of hemp in aquaculture reduces both the dependence on soy linked to deforest

239、ation and fishmeal.Highlights Rare Earth Global is in the process of securing product patents,as well as developing a data-driven crop model to optimise the supply chain.Accolades include Aquaculture Award(2023),Argus Startup Award(2024),Greentech Fund Winner(Simmons&Simmons)(2024)and Earthshot nomi

240、nee(2024 and 2025).Company:Rare Earth GlobalFounders:Jamie Lewis,Suneet Shivaprasad,Stephen Wong HQ:LondonOperating regions:UK,Spain,ThailandTRL:9 Funding:Pre-seed,equity,grantsNature-based solution Resource transitionApril 2025|42PwC Net Zero Future50ContentsPrevious pageNext pageFuture Greens has

241、developed compact,high performance anaerobic digesters that break down waste 8-10 times faster than traditional systems,enabling a significantly smaller and more modular design.Its digesters are small enough to be installed at the site of waste production,such as food manufacturing facilities,thereb

242、y reducing transport emissions and providing a local source of green energy.By developing a novel reactor architecture and focussing on a pre-fabricated,modular design,Future Greens digestors are easier to deploy and service,and use AI to self-optimise.Impact Future Greens report that the average mi

243、d-sized brewery can save 1,100 tonnes of CO2e per year by processing on-site waste in the novel reactor.Additionally,a brewery of this size could save around 200,000 per year due to a combination of waste disposal charges and on-site energy generation.Highlights Future Greens are part of Tech Nation

244、s Climate Programme 2024,and won Tech Nations Rising Stars regional final.Future Greens has been awarded an Innovate UK Farming Innovation grant in collaboration with the University of Sheffield.The first full-scale pilot has been successfully deployed in Sheffield,processing spent grain from The Br

245、ewery of Saint Mars of the Desert.Company:Future GreensFounders:David Dixon,Alexander la Fleur,Gabriel Bartekait,Alastair Roper HQ:SheffieldOperating regions:UKTRL:7Funding:Pre-seed Resource transitionWaste reduction and circularity April 2025|43PwC Net Zero Future50ContentsPrevious pageNext pageSus

246、tainable Planet develops sustainable agricultural models and technology to produce plant proteins using water lentils.These products do not require any arable land and use 15 times less water to produce than soybeans.This mitigates the broader environmental impact and reduces land-use change in biod

247、iverse,tropical areas.The cultivated water lentils themselves are also a substantial carbon sink.Sustainable Planet is committed to supporting local economies in countries where it is trialling water lentils,including Egypt,UAE,Thailand,Indonesia and Mozambique.Water lentils can be used as animal fe

248、ed,human food,organic fertiliser and biofuel.Impact Sustainable Planet says it has produced 450,000 tonnes of sustainable protein to date,which has reduced carbon emissions by 30 million tonnes of CO2e.Water lentils can sequester approximately 300kg of CO2 per hectare per day during growth.Water len

249、tils can also be fed to cattle to produce less methane.Highlights Sustainable Planet won the Global Food Tech challenge in 2024,selected from 667 companies across 79 countries.Other accolades include UM World Food Startup Innovation Awards in 2023,UNIDO Award for Manufacturing and Processing in 2024

250、 and Impact Excellence Award for Food Security in 2024.Company:Sustainable PlanetFounders:Sven Kaufmann,Susan PayneHQ:LondonOperating regions:UK,UAE,Africa,AsiaTRL:7 Funding:SeedResource transitionApril 2025|44PwC Net Zero Future50ContentsPrevious pageNext pageIndustry,manufacturing and resource man

251、agementFuture50 companies RecycleyeHyran TechnologiesKelpi(Kelp Industries Ltd)Altilium Clean TechnologyTetronics TechnologiesE.V.A BiosystemsMonumoQPTXamplaQiO TechnologiesApril 2025|45PwC Net Zero Future50ContentsPrevious pageNext page3.4 Industry,manufacturing and resource managementThe industry,

252、manufacturing and resource management sector produces 19%of UK emissions*,yet received only 11%(96m)of UK climate-related VC investment*in the 12 months leading to September 2024.In light of this carbon funding gap,greater investment into this area is crucial and we hope the start-ups selected in ou

253、r Future50 begin to demonstrate the variety of solutions on offer.AcceleratorsEUs and UKs Carbon Border Adjustment Mechanisms(CBAMs):CBAMs will significantly impact the cost of carbon-intensive materials imported into the UK for industrial manufacturing processes.As a result,the development of low-c

254、arbon onshore materials will become increasingly important.Concerns over microplastics:Growing concerns about microplastics are driving research into alternative materials,such as bio-based and biodegradable polymers.This has led to advancements in recycling technologies and the implementation of ex

255、tended producer responsibility(EPR)schemes.The UK government has committed to the Global Plastic Treaty which aims to eliminate plastic pollution through a circular economy by 2040.Intensifying physical risks:Industrial facilities,often strategically located near natural resources like rivers for co

256、oling purposes,are experiencing increased disruption due to intensifying physical risks such as flooding,earthquakes,and hurricanes.These risks reduce the reliability of industrial supply chains by disrupting production and transport operations,reducing efficiency and increasing cost.This has increa

257、sed the demand for resilience technologies tailored to industrial needs,such as climate risk modelling,on-site renewable energy systems,and adaptive cooling technologies.BarriersCapex heavy:New technologies in the industrials sector are often asset heavy and require significant upfront capital inves

258、tment,including the cost of new machinery and retrofitting existing equipment.Development timelines can also be lengthy.The combination of these factors can often deter investors given the associated risks to ROI.In addition,the assets being replaced typically have long lives and are therefore often

259、 decommissioned early.Collaborations between government and the private sector,in the form of public-private partnerships,can often help here.International cooperation:Decarbonising the industrial sector requires international cooperation,as industrial products are traded across global value chains.

260、Initiatives and regulatory changes,such as the First Movers Coalition and CBAM,have begun to develop harmonised standards.However,many countries and companies that are yet to engage for fear that commitments could impact profits and a shift in focus could cause loss of market influence.Supplier read

261、iness:Industry supply chains can be extensive,complex and global.This creates a significant challenge when seeking to reduce scope three emissions as suppliers may not be equipped to meet green standards.Supplier engagement and incentivisation is likely to be required,although this is rarely straigh

262、t forward.%of UK GHG emissions*19%UK climate-related VC investment*96mNo of start-ups in NZF509*UK GHG emissions 2023*This reflects global VC investment into UK climate tech companies for the 12 months to Sept-24 ref,PwC State of Climate TechPwC Net Zero Future50April 2025|46ContentsPrevious pageNex

263、t pageGrowth areasOptimised manufacturing:The industrial sector is increasingly using artificial intelligence(AI),digital twins,and machine learning to optimise manufacturing processes,predict maintenance needs,and minimise waste and energy consumption.Advanced manufacturing techniques,such as autom

264、ation and additive manufacturing,just-in-time ordering,precision material use,and production processes can all enhance operational efficiency while directly lowering costs and carbon.Circular economy:Manufacturers are increasingly required to evaluate the environmental impacts associated with all st

265、ages of a products lifecycle,from raw materials(including mining and extraction)to end-of-life disposal or recycling.This creates opportunities for technologies supporting the development of more sustainable practices from raw material alternatives to product life extension,recycling and other circu

266、lar economy models.Green hydrogen-based alternatives:Hydrogen offers a clean energy solution for the industrial sector,particularly where high temperatures are needed,and electrification is challenging.It can be used in steel manufacturing or as a feedstock in producing chemicals like ammonia or met

267、hanol,helping industries reduce their carbon footprint and comply with stringent regulations.CCUS:Carbon capture,utilisation and storage(CCUS)technologies crucially reduce the carbon released from manufacturing processes.CCUS systems need to continue to be developed to leverage byproducts from manuf

268、acturing processes and reuse them in production.CCUS technologies can help companies in the industrials sector make strides towards carbon neutral production lines.April 2025|47PwC Net Zero Future50ContentsPrevious pageNext pageRecycleye uses machine vision and high-speed robotics to automate manual

269、 waste sorting in recycling facilities.The technology can conduct up to 65 successful targeted picks per minute using a robotic arm,or sort up to 1,000 in bulk using air blasts,thereby reducing labour costs and increasing the quality of recyclate.Recycleyes technology reduces the amount of waste sen

270、t to landfill and associated GHG emissions,release of toxins and leachate.Recycleye has partnered with several universities to use the data and analytics generated to create WasteNet,which is now the worlds largest dataset for waste.Recycleye has also developed a waste taxonomy to provide a global s

271、tandard for waste classification.Recycleye is headquartered in London,and has installed units in sorting facilities across Europe and in the US.Impact Recycleye reports facilities have recovered up to 30%more targeted material for recycling.Sorts material with purity of up to 98%,meaning plastic typ

272、es can be recycled into same product.Reduces reliance on manual labour in environments with high ignition risk from batteries.Highlights Recycleye equipment already installed and operational in 45+material recovery facilities(MRFs).Accolades include founders listed on the Forbes 2021 30 under 30 lis

273、t for Social Impact,and the European Patent Offices inaugural Young Inventors prize.Customers include leaders in waste management,such as Veolia and FCC Environment,and a strategic partnership with the Alliance for Beverage Cartons and the Environment.Company:RecycleyeFounders:Victor Dewulf and Pete

274、r Hedley HQ:LondonOperating regions:UK,Europe,USTRL:8Funding:Series AWaste reduction and circularity DigitalisationApril 2025|48PwC Net Zero Future50ContentsPrevious pageNext pageWaste due to overproduction and inaccurate forecasting is a challenge in the fashion industry.Traditionally,brands place

275、binding orders many months in advance which,due to unexpected market conditions and consumer behaviour,can result in excess inventory,waste,and financial losses.Hyran helps to reduce this by enabling brands to delay production decisions using near-season data.Hyrans AI platform integrates with suppl

276、iers data to provide full visibility into production pipelines,suggesting optimal timing and quantities for material movement.This adaptive approach accounts for unique product and supplier needs,aligning production with real-time demand patterns and lead times to minimise inefficiencies.Impact Hyra

277、n reports early adopters of its platform have achieved an average 71%reduction in raw material waste and 27%improvement in on-time delivery through increased material accuracy.Highlights Hyran has projects with New Balance and other well-known brands.Accolades include Shop Talk Europe(2023)Judges Ch

278、oice Award for its innovative technology.Company:Hyran TechnologiesFounders:Ahmed Zaidi,Jordan ZhangHQ:CambridgeOperating regions:UK,USTRL:7 Funding:Pre-seed(2023)DigitalisationDemand reduction through efficiencyApril 2025|49PwC Net Zero Future50ContentsPrevious pageNext pageKelpi has developed a bi

279、odegradable seaweed-based polymer designed to line paper,card and moulded fibre packaging.This offers an alternative to non-biodegradable fossil fuel based plastics commonly used in packaging for food,beverages,personal care,and household products.Unlike many bioplastics,Kelpis solution performs sim

280、ilarly or better than traditional plastics.It has a proven water barrier but disintegrates during the paper and card recycling process with no special modifications required to equipment.Kelpi is currently focused on scaling production of the polymer.This involves collaboration with seaweed farmers

281、and refineries for feedstock,as well as fibre packaging manufacturers that produce the substrate for the polymer film.Kelpi is also in the process of obtaining regulatory approval for use in food and drink packaging.Impact Kelpi says that its solution canreplace fossil-fuel based plastics as well as

282、 high carbon-emission glass.Seaweed sequesters carbon and re-oxygenates the ocean as it grows.It doesnt require land,fertilisers,or fresh water to thrive.Highlights Kelpi has R&D contracts with large multinational retail brands,including LOreal,Diageo,and Waitrose.Accolades include Barclays Entrepre

283、neur of the Year 2024 Award and Start Up Enterprise of the Year Global Good Awards in London 2024.Kelpi has achieved B-Corp status.Company:Kelpi(Kelp Industries Ltd)Founder:Neil MorrisHQ:BristolOperating regions:UK,US,EuropeTRL:6Funding:Seed(two rounds),Innovate UK grantsNature-based solution Waste

284、reduction and circularity Resource transitionApril 2025|50PwC Net Zero Future50ContentsPrevious pageNext pageAltilium specialises in recycling lithium-ion batteries from EVs using its proprietary EcoCathode process.This method recovers valuable minerals such as lithium,cobalt,and nickel from spent b

285、atteries and upcycles them into sustainable,low-carbon cathode active materials(CAM)for new batteries.This approach not only reduces the environmental impact of battery disposal but also ensures a sustainable supply of critical materials for the expanding EV and energy storage markets.Currently,most

286、 used EV batteries are exported for processing abroad.Altilium plans to construct a large battery recycling plant in the northeast of England,a project expected to supply 25%of the critical minerals needed for UK electrification with the feasibility study completed with funding from the UK Governmen

287、ts Automotive Transformation Fund.This initiative aims to strengthen the UKs energy security and support a more sustainable and resilient domestic supply chain.Impact Altilium claims that using its recycled materials could reduce the carbon footprint of new EVs by 25%,equating toaround 4 tonnes CO2e

288、 saved per vehicle.Materials produced using Altiliums process should cost 20%less and emit 74%less carbon than new materials,based on a life cycle assessment(LCA)conducted by external consultancy Minviro.Highlights Patents are pending forAltiliumsEcoCathode technology and proposal for safe collectio

289、n of used batteries.Altilium is involved in an Innovate UK/APC project with Jaguar Land Rover to recycle old EV batteries.New cellswill be produced at the UK Battery Industrialisation Centre for validation by a leading automotive OEM.First commercial plant opened in Plymouth in February 2025.Company

290、:Altilium Clean TechnologyFounders:Dr Christian Marston,Kamran Mahdavi,Sean JosephHQ:PlymouthOperating regions:UKTRL:7 Funding:Series A,Innovate UK grantsWaste reduction and circularity Resource transitionApril 2025|51PwC Net Zero Future50ContentsPrevious pageNext pageTetronics is an environmental t

291、echnology company and world leader in plasma arc systems,focussed on decarbonising challenging industrial processes such as steel,glass and cement.With the support of the UK government,Tetronics is developing a brand-new technology,Tetronics Hydrogen Plasmolysis(THP),that uses plasma for green hydro

292、gen production.THP technology aims to generate green hydrogen more efficiently than electrolysers,eliminating CO2 emissions from industrial processes and providing a zero-carbon fuel for use in heating,power,and transportation.THP is able to run on salt water and other sustainable feedstocks,such as

293、 biomethanol and ammonia,making ita more flexible technology than alternatives.Tetronics is also able to use its plasma technology to convert easily transported ammonia into hydrogen at the site of consumption,addressing a key industry challenge.Impact Tetronics is seeking to scale from a 300KW demo

294、nstrator to a 1MW module in 2026,increasing its emissions reduction potential.The company aims to create hydrogen fuel points in rural locations with access to wind or solar energy.Highlights Tetronicstechnology is patented.Grant funding has been received from the UK Governments Department of Energy

295、 Security and Net Zero through the Low Carbon Hydrogen Supply 2 competition.Multi-million pound contracts have been secured for its technology across various applications,including with clients like Sellafield,where it is used to stabilise and reduce the volume of nuclear waste streams.Company:Tetro

296、nics TechnologiesFounder:Graeme RumbolHQ:SwindonOperating regions:UK,US,Europe,Middle East,AsiaTRL:6/7Funding:Government grantsResource transitionApril 2025|52PwC Net Zero Future50ContentsPrevious pageNext pageE.V.A Biosystems is developing synthetic biological additives to be included in the manufa

297、cturing process of conventionaland recycled plastics.These additives detect specific environments,such as seawater or landfill,by recognising changes in conditions such as salt or pH levels through tunable biosensors.It then uses enzymes to microbiologically degrade the polymer chains at the molecul

298、ar level,with the potential to completely break down the plastic and minimise the release of microplastics.This selective degradation serves as a backup plan to mitigate environmental impacts if plastic escapes planned waste management.While biodegradable plastics exist,they are in short supply,more

299、 expensive,and have poorer material properties than conventional plastics.E.V.As goal is to maintain the benefits of conventional plastic while improving end-of-life outcomes and reducing plastic pollution.Impact E.V.A estimates that,in the UK,only 17%of plastic is recycled,with plastic pollution ma

300、ssively disrupting ecosystems.By reducing plastic pollution,E.V.A contributes to protect biodiversity and enhance carbon sequestration Given that only 0.7%of current global plastic production is bio-based,E.V.A sees significant potential in addressing non-biodegradable plastics,especially in markets

301、 with less developed waste management infrastructure like Southeast Asia.Highlights E.V.A Biosystems technology is in the early stages,focusing on R&D to optimise degradation and performance before seeking regulatory approvals.Accolades include Scottish EDGE(2022),Edinburgh Innovations Inspire Launc

302、h Grow(2023)and most recently the SSE Net Zero and IBioIC Industrial Biotech prizes in the 2024 Converge Challenge.Company:E.V.A BiosystemsFounder:Dr Alexander SpeakmanHQ:EdinburghOperating regions:UKTRL:4 Funding:Pre-seed,government grantsWaste reduction and circularity April 2025|53PwC Net Zero Fu

303、ture50ContentsPrevious pageNext pageMonumos Anser Engine is a combined simulation and optimisation tool that leverages machine learning and AI to optimise electric motor designs.The Anser Engine can reduce engineering projects that typically take years to complete by exploring millions of prototype

304、designs withinhours.Monumo explains that this technology will enhance the efficiency and range of EVs while lowering costs,thereby addressing key barriers to global EV adoption.The Anser Engine simulates and optimises the entire motor system,including the motor,inverter,and transmission,to understan

305、d the symbiotic relationship between components and achieve more sustainable designs.The technology is tailored to each customers drive system characteristics and parameters,exploring numerous design paths to identify efficient solutions that traditional methods may overlook.Although the company is

306、currently focused on EVs and their powertrains,Monumos long-term ambition is to create an electromagnetics foundation model for all types of electrification.Impact Monumo expects to improve overall motor performance by 20-30%,significantly reducing emissions and costs,and accelerating the adoption o

307、f EVs in the pursuit of decarbonising transportation.Monumo aims to reduce motor dependency on permanent magnets,thereby reducing the use of rare earth materials currently present in 80%of EVs,while still being manufacturable on existing production lines.Monumo is currently saving car companies and

308、its suppliers tens of millions on a production run of motors.Highlights Monumos technology is patented.Monumo won a contract with one of the worlds largest manufacturers of electric motors,and has partnered with leading German automotive consultancy,Hofer Powertrain.Accolades include a place on the

309、prestigious Europas 100 which showcases the 100 hottest tech start-ups in Europe.Company:MonumoFounders:Dominic Vergine,Ian Murphy,Martin Frost HQ:CambridgeOperating regions:Europe,Asia and othersTRL:8Funding:Seed,Innovate UK grantsDigitalisationDemand reduction through efficiencyApril 2025|54PwC Ne

310、t Zero Future50ContentsPrevious pageNext pageQPTs Intelligent Power Module(qIPM)is designed to transform electric motor drive systems by using gallium nitride(GaN)transistors,which operate at higher frequencies than traditional silicon or silicon carbide(SiC)alternatives.This results in improved mot

311、or performance,reduced energy losses,and cleaner sine wave outputs,leading to less noise,vibration,and harshness(NVH),higher efficiency,reduced wear,and extended lifespan.The compact,modular design allows easy adoption by major motor manufacturers with minimal redesign,and QPT has addressed thermal

312、and electromagnetic interference challenges posed by fast switching speeds.Target applications include industrial,automotive,and HVAC sectors.In EVs,enhanced drive efficiency can extend range or reduce battery size.In industrial motors,qIPM reduces heat and maintenance,extending equipment lifespan a

313、nd lowering total ownership costs.Impact QPT estimates that its technology could cut global energy consumption by 5%,delivering emissions savings equivalent to removing all planes from the sky.QPTestimates qIPM reduces energy losses by up to 80%and improves system efficiency by up to 10%,leading to

314、decreased energy demand,CO2 emissions,and costs.By using the qIPM,QPT estimates that motor drive power density can be increased by up to 20 times,aided by QPTs patented die attach process that enhances waste heat removal by up to 15 times.Highlights QPT is working with ABB to develop the first high-

315、frequency GaN based industrial motor drive,set for completion in Q2 2025.Patents have been awarded covering advanced thermal management and electromagnetic interference handling.Accolades include the Design Innovation Award at the TechWorks Awards(2024),Young Company of the Year Award at the Busines

316、s Weekly Awards(2024)and three IET awards in 2024,for Emerging Tech of the Year,Net Zero and Climate Action,and Power and Energy.Company:QPT(Quantum Power Transformation)Founder:Rob GwynneHQ:CambridgeOperating regions:UK,PortugalTRL:5 Funding:Angels,seed,Innovate UK grantDemand reduction through eff

317、iciencyApril 2025|55PwC Net Zero Future50ContentsPrevious pageNext pageXampla is a materials innovation company unlocking the power of natural plant polymers to create world-first patented materials.Xamplas Morro materials are designed to eliminate the most polluting plastics,and are made from plant

318、s without any chemical modification.Xampla say they are high performance,plastic-free alternatives for a range of products including barrier coatings,flexible films and edible packaging.In late 2023,Xampla announced its first technology licensing agreement with 2M Group of Companies,enabling Morro C

319、oating to be manufactured and produced at tonnes scale,and used by global packaging companies including Huhtamaki and Transcend.Xampla state that Morro is fully biodegradable in all environments,home compostable,and can drop-in to existing manufacturing supply chain as well as being compatible with

320、existing recycling processes.Impact Xampla believes its product has the potential to replace 25,000 tonnes of plastic coating by 2029.Highlights Xampla was spun out of the University of Cambridge.The technology is licensed and produced at scale in the UK and EU.Accolades include The Sunday Times One

321、s to Watch(2025),Capsule Scale-Up 50(2025),WIRED Trailblazer Award(2024),and the Seal Business Sustainability Award(2022).High profile partnerships with major brands include Huhtamaki,Elemis,Britvic,Gousto,and Yili.Xampla is B-Corp accredited.Company:XamplaFounders:Dr Marc Rodriguez Garcia,Professor

322、 Thomas KnowlesHQ:CambridgeOperating regions:InternationalTRL:9Funding:Series A and grant fundingNature-based solution Waste reduction and circularity April 2025|56PwC Net Zero Future50ContentsPrevious pageNext pageQiO has developed Foresight Suite for the industrial sector a collection of products

323、using IoT solutions to optimise industrial assets and processes.The suite can be deployed rapidly and deliver real outcomes in a matter of days,such as reduced costs,energy usage and carbon emissions,increased productivity and output,and improved uptime.Foresight can operate on the Edge using real-t

324、ime data to identify anomalies and provide immediate insights and solutions through closed-loop control that interfaces directly with industrial systems.For businesses that have multiple assets,data can be sent to the cloud,providing a full overview of equipment effectiveness,energy use and carbon s

325、avings through customisable dashboards.Impact QiO is committed to sustainable practices and helping manufacturers to meet their ESG goals.Through Foresight,QiO aims to enhance energy efficiency,cutting carbon emissions and reducing energy costs by up to 15%.Highlights QiO was included in Gartners Em

326、erging Tech:Techscape for Startups Creating Simulation report and recognised by CIOCoverage as one of the 10 Best Digital Twin Companies to Watch in 2024.The company was featured in edies Green Innovation Trends for 2024.Company:QiO Technologies LtdFounder:Rick Haythornthwaite,Baz Khuti HQ:Egham,Sur

327、reyOperating regions:UK,Europe,North America TRL:9Funding:Series BDemand reduction through efficiencyApril 2025|57PwC Net Zero Future50ContentsPrevious pageNext pageBuilt environment Future50 companies BiohmBiozerocGrid EdgeSwitcheeSeratechEtopiatepeoConcrete4ChangeQflowApril 2025|58PwC Net Zero Fut

328、ure50ContentsPrevious pageNext page3.5 Built environmentThe built environment generates 20%of UK GHG emissions*but raised only 10%(93m)of UK climate-related VC investment*in the 12 months leading to September 2024.The built environment is considered one of the hardest sectors to abate,and significan

329、t investment is needed in R&D to close the carbon funding gap and accelerate the decarbonisation of this sector.AcceleratorsRetrofitting:Housing often lacks proper insulation and energy management systems,leading to high utility bills that many inhabitants struggle to afford.This financial strain is

330、 driving homeowners to seek ways to improve their homes energy efficiency,thereby reducing their energy costs.Retrofitting of existing housing is also supported by the Social Housing Decarbonisation Fund,and the financial incentives offered under the Renewable Heat Incentive for the installation of

331、renewable heating systems.Growing population:The government has pledged to construct 1.5 million new homes over the next parliament.This ambitious plan addresses the needs of a growing population but also sets out to integrate advanced climate technologies.The Future Homes Standard,which is set to b

332、e implemented in 2025,will ensure new homes produce 75-80%less carbon emissions compared to current standards by integrating technologies such as high-performance insulation,smart energy management systems,and renewable energy solutions.Industry certifications:BREEAM(Building Research Establishment

333、Environmental Assessment Method)and LEED(Leadership in Energy and Environmental Design)are widely recognised certifications that assess the sustainability of buildings and encourage best practices in design and construction.The increasing adoption of these standards supports investment into the transition to a greener built environment.BarriersAlternative construction materials:The construction se