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BGF bolsters its clean growth advisory board following two new appointments
BGF has added two new high-profile names to its clean growth advisory board, which was set up earlier this year to accelerate BGF’s investments in companies engaged in carbon reduction and the energy transition. The advisory board is chaired by Julia King (Baroness Brown of Cambridge).
Juliet Davenport OBE, the founder of Good Energy, and Laura Sandys CBE, a senior policy and business advisor specialising in the energy, food and sustainability sectors, have both joined the board.
They will provide guidance on sector trends, market opportunities and government policy to support BGF in its clean growth investment and portfolio activities.
Juliet Davenport founded Good Energy over 20 years ago with a mission to power a greener, cleaner future. It has since grown to supply over 200,000 customers, providing 100% renewable energy across its platform. As a climate scientist, renewable pioneer, businesswoman and environmental activist, Juliet is regarded as one of the UK’s leading figures in the fight against climate change.
Laura Sandys served on the Energy and Climate Change Select Committee and recently chaired the Energy System Data Taskforce on behalf of BEIS. She is an advocate of the low carbon economy and wrote the Reshaping Regulation report stressing the value of data in transforming the energy system.
Julia King (Baroness Brown of Cambridge), chair of the advisory board, is an engineer whose academic career at the University of Cambridge led to senior business and engineering roles at Rolls-Royce. She is an independent member of the House of Lords, chair of the Carbon Trust and chair of the adaptation subcommittee of the UK Committee on Climate Change.
Juliet Davenport said: “As a founder myself, I know first-hand how important it is to assist those who are growing businesses in the clean growth ecosystem. By joining forces with BGF, I look forward to imparting this knowledge so that the next wave of entrepreneurs have access to the skills, strategy and financial support needed to pave way for a more sustainable future.”
Laura Sandys added: “It’s vital that the business community plays its part in the drive towards a cleaner, greener future. The market opportunity for innovation in the field of clean growth is huge, and it’s therefore critical that we bring together the resources needed to help reach the UK’s ambitious climate change target.”
Julia King, Baroness Brown of Cambridge and Chair of the BGF clean growth board, said: “I am delighted to be joining BGF to Chair its Advisory Board. BGF has already demonstrated its desire to support the many businesses which are contributing to our net zero targets, and I am looking forward to helping them to accelerate their activity in this area.”
BGF is one of the leading investors in the field of clean growth, having already committed £225 million to cleantech and clean growth investments, and with a team of 12 specialists across its regional network focused on the sector.
Investments include a diverse range of businesses, such as those that develop hydrogen fuel cells, maintain wind turbines, recycle organic waste, and apply energy efficient practices in building and construction.
Andy Gregory, chief investment officer, BGF said: “We’re thrilled to bring together three leaders in the field of clean growth. With unrivalled experience across policy, business and innovation, BGF’s clean growth board will play a central role in strengthening the impact of our investments in this sector and ensuring we are taking the right steps in meeting our pressing climate goals. The UK is a hotbed of innovation in this field, and it is vital that the investment ecosystem is supporting entrepreneurs and innovators to drive growth and development across key areas in the fight against climate change.
“BGF has backed over 20 companies in the field of clean growth, but we have plans to substantially expand investments in this area as part of the essential effort to transform our energy sector and the wider economy.”
BGF has already supported a number of businesses in the renewable energy and green transition space – including ACELERON, who are designing innovative lithium-ion batteries, Bramble Energy Limited, which produces hydrogen fuel cells on an industrial scale, and Reactive Technologies Limited, an innovative business helping to optimise grid stability.
This year marks a decade of growth for BGF, which has invested £3 billion in more than 450 growth economy companies since it was set up in 2011. Today it is the most active growth capital investor in the UK, making more than an investment a week.
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