Zero Carbon Capital Closes £20 Million Fund for Climate Tech Startups

Zero Carbon Capital (ZCC), a venture capital firm, announced on May 16, 2024, the successful closure of its £20 million fund. The fund is designated for pre-seed and seed-stage companies in Europe that are developing scientific solutions for deep decarbonisation. The investment pool attracted a diverse range of institutional, corporate, and individual investors, including notable names such as Isomer Capital, Green Future Investments, Bunge Ventures, and Extantia Climate All-stars.

Led by Pippa Gawley, who brings eight years of experience in climate tech investing, ZCC intends to deeply integrate scientific expertise into its investment strategy. Gawley stated the firm's vision: "We deeply believe that the combination of brilliant scientific advances with sustainable, scalable commercial models is the best way to get to a future where humans are thriving on a healthy planet with healthy ecosystems."

The fund has already committed capital to 12 companies whose missions align with its decarbonisation goals. Portfolio examples include Level Nine, which produces chemicals from biological feedstocks; Ionate, developing smart transformers for the renewable grid; NetZeroNitrogen, utilizing bacteria to fix atmospheric nitrogen and reduce fertilizer use; and RepAir, which is creating low-power electrochemical direct air capture technology.

Beyond financial backing, ZCC aims to provide strategic support to its portfolio companies and foster a community of innovators in the climate tech sector. The firm began its investment activities with a proof-of-concept fund in 2020, which supported seven early-stage decarbonisation companies in the UK.