Barclays has called on the government to address a £1.5bn financing gap for growth-stage climate tech firms, which it says is critical if firms are to scale at pace and the UK is to meet its net zero ambitions.
While welcoming the UK Labour government’s recently announced plans for a £7.3bn National Wealth Fund to “unlock investment” in new and emerging industries, in a report on scaling net zero technologies, Barclays called on the UK Infrastructure Bank and the British Business Bank to launch a dedicated climate tech fund with a specific focus on supporting debt and equity transactions with a £10mn to £25mn ticket size.
