What cleantech firms could apply for the Chinese joint fund?

Cleantech firms can follow in the footsteps of their UK contemporaries and help China innovate.

Last month we reported that UK cleantechs had the chance to develop their product in an accelerator in China. But what types of companies can have access to the world’s largest consumer and producer of cleantech technologies — China — and which have already signed commercial agreements?

The opportunity, a £24 million joint fund between Chinese energy giant SHEnergy and BGTA, is an example of China opening its doors to UK companies.

The accelerator is looking for companies that want to improve energy generation, storage, infrastructure and efficiency. It is also interested in firms that can prove it can reduce emissions and waste in the transport sector.

China investing billions to improve farming

Company’s that aim to reduce water and wastewater in the supply chain are also being urged to apply as well as those who have a product that can, for example, improve crop yields in a sustainable way and cut down on waste and increase recycling.

According to a report by Bloomberg, China is spending billions on improving the way it uses water in its farming and has a goal of being entirely self-sufficient in staple foods like corn and rice.

One UK company that could theoretically apply is The Furniture Recycling Group, who was interviewed by GrowthBusiness earlier this year. The company currently prevents a third of mattresses in the UK from being dumped in a landfill through recycling.

The Shanghai International Energy Innovation Centre says it does not have dates for demo days yet.

See more:

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Scottish Equity Partners exits cleantech company

Keenan Recycling expands in Central Belt with BGF investment

Ban on UK plastic

Last summer the Chinese government banned 24 different types of solid waste from countries including the UK, including plastic bottles and mixed paper. Companies in the air and environment, materials and manufacturing and industrial sector are also welcome to apply.

This week, Coventry-based automotive manufacturer and supplier Expert Tooling and Automation announced a joint venture in China with Chinese firm Star Eagle, which means both firms will invest £5 million into a 200,000 sq ft plant in Hefei, Eastern China.

Professor Doug Crawford-Brown, director of the Cambridge Centre for Climate Change Mitigation Research said in May last year, ‘Cleantech innovations have the potential to significantly reduce the energy, carbon, environmental and resource intensity of industrial processes. By coupling cleantech support to industrial growth, the nation (UK) can achieve the economic growth sought from the industrial strategy while improving the environmental performance of the economy.’

Michael Somerville

Uriel Beer

Michael was senior reporter for GrowthBusiness.co.uk from 2018 to 2019.

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Venture capital funding