UK companies attracted 18% of Europe’s cleantech investment amid a record year of funding for the sector, according to new data.
The report, compiled by IP and R&D tax credit firm GovGrant, shows that last year investors poured £134bn into cleantech firms across Europe.
That’s up by 4.4% from the previous record year, 2018. Over half of last year’s total investment in cleantech has gone into energy-related businesses.
The report found that 23% of the 8,500 businesses in Europe who create renewable energy technology, decarbonisation, agricultural technology and associated sectors are from the UK.
“The strength of the sector in the UK is also really pleasing. Clearly, our cleantech sector, helped by tax credits, is flourishing. It’s going to be exciting to see where the industry goes and what rising investment can do for the future of the planet,” said Adam Simmonds, investment research analyst, GovGrant....