Barclays Eagle Labs and Sustainable Ventures launch the National Climate Tech Accelerator to boost the UK’s green innovation economy
The UK’s climate tech sector is set for a major boost as Barclays Eagle Labs and Sustainable Ventures officially launch the National Climate Tech Accelerator (NCTA) – a nationwide program designed to accelerate the growth of the UK’s most promising climate and sustainability startups.
Applications opened in early November and more than 80 promising climate technology founders from across the UK have already applied, highlighting the need for funding, technical support and market access at a crucial moment for the sector.
The NCTA brings together one of the UK’s largest entrepreneurial ecosystems, Barclays Eagle Labs, with Sustainable Ventures’ proven track record as Europe’s leading climate technology growth platform. The result is one of the most ambitious funding programs ever aimed at scaling UK climate innovators.
Barclays clients benefit from an expanded set of tools designed to accelerate time-to-market, fundraising capability and scale-up planning.
Founded in 2011, Sustainable Ventures has backed more than 1,000 start-ups, supported the creation of 7,000 green jobs and raised over £1.2 billion in funding. The success rate of the portfolio companies is an impressive 80%, well above the industry average.
Barclays, meanwhile, has committed up to £500m of climate technology investment by 2027 through its Climate Ventures division, as well as its existing Climate Tech Escalator, which aims to support founders from “idea to IPO”.
Andrew Wordsworth, CEO and founder of Sustainable Ventures, said the partnership will dramatically accelerate the UK’s transformation economy: “This program will provide advice and support to hundreds of climate technology companies, giving them an unfair business advantage that will help them grow faster from idea to exit. These companies will play a crucial role in helping the UK reach its net zero targets.”
Abdul Qureshi, Head of Business Banking at Barclays, said the accelerator is vital to building a thriving domestic climate technology sector: “Scaling climate technology requires integrated support that brings together capital and expertise. By partnering with Sustainable Ventures, we are creating a platform to help ambitious UK climate start-ups overcome barriers to growth and become the market-leading companies the change requires.”
Founders across the spectrum of climate technology – from making lightweight electric vehicles to training green workers – are already participating in the program.
Mat Illic, CEO of Greenworkx, said the accelerator will support its mission to train 10 million people for green jobs over the next decade: “The digital support, network and technology loans will all help us on our growth journey to achieve this critical mission.”
Mark Tapscott, co-founder of Longbow, a company developing ultralight electric sports cars, added: “We look forward to collaborating with other forward-thinking innovators through NCTA and advancing our program.”
Showpower, Prima Materia and Vida Vodka also highlighted the value of NCTA’s specialized climate tech community and structured growth paths.
The accelerator comes at a crucial time. The UK’s climate tech sector faces stiff competition from the US and EU – both of which are pouring billions into clean technology industrial policy – as domestic investors continue to demand stronger support.
By combining growth capital, expert advice and national infrastructure, NCTA aims to establish the UK as a global launchpad for climate technologies ranging from clean energy to circular manufacturing.
