Matt Ovenden

And the UK's largest emitters are... Ember's latest annual review of sources of emissions lists Drax as the largest single source of CO2 in the UK. Ember's analysis says that by "Emitting 11.5 million tonnes (Mt) of CO2 in 2023, Drax is by far the largest single CO2 emitter in the UK, responsible for the equivalent of 2.9% of total UK territorial emissions." Ember adds that "Although it is the recipient of public funding earmarked for low-carbon projects, Drax remains the largest single source of CO2 in the country." Drax is followed by various heavy industrial plants, refineries and works plus airlines - see graph and list below. On Drax’s claims that its burning of imported wood pellets is sustainable and carbon neutral, Ember states: “Carbon savings not guaranteed from burning biomass” and that: “Serious concerns remain about the overall emissions of using biomass for power generation. The EU and UK emissions trading schemes (ETS) do not require wood-burning power plants to report their emissions, assuming the emissions are offset by forest regrowth. However, direct emissions are reported by Drax itself. This assumption provides biomass power plants in the UK with a sustainability classification meaning that they are eligible for public subsidies, even though the carbon savings are in doubt. From 2002 to 2023, Drax has received £6.5 billion in public funding. “Unfortunately, the assumed carbon savings from biomass is far from guaranteed. There is a mounting body of evidence and expert opinion that this assumption is critically flawed and must be overturned. The European Academies Sciences Advisory Council states that using woody biomass for power “is not effective in mitigating climate change and may even increase the risk of dangerous climate change”. Furthermore, BBC investigations have shown examples of rare old growth forests being cut down and turned into wood pellets, increasing the potential ecological harm inflicted. It is therefore likely that burning biomass to generate power is failing to deliver any carbon savings and is in fact a contributor to climate change. Continuing to subsidise this practice is a very risky gamble that comes at a high cost to consumers.” Port Talbot Steelworks, Pembroke Gas, Scunthorpe Iron and Steel, Ratcliffe Coal, Staythorpe, Esso Petroleum, Pembroke Refinery, West Burton B, Stanlow Refinery, Immingham, Humber Refinery, Ryanair, Grain, Saltend, Didcot B, Easy Jet UK, EP SHB, Seabank, Keady, Spalding, Lindsey Oil Refinery, Carrington, Marchwood, Hope Cement, British Airways, Little Barford, Enfield, Cottam Centre, Connahs Quay. https://lnkd.in/epw63dMw

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Water you waiting for? As the UK and Welsh Governments embark on the most comprehensive review of the water sector since privatization, it’s clear that transformative change is not just necessary—it’s imperative. The recent establishment of the Independent Commission, chaired by Sir Jon Cunliffe, underscores a commitment to overhauling regulatory frameworks, attracting investment, and restoring public confidence in our water infrastructure. The most important recommendation Sir John can make, is not who should control the water monopoly, but the dissolution of all the monopolies and the present regulator, Ofwat, which has enabled water company abuse of their customers and the environment. There is one in a generation opportunity to reimagine the very foundation of water company ownership in the UK. I propose a pioneering business model where resident water bill payers automatically become the owners of their water suppliers. This model not only aligns with the Commission’s objectives, also offers a sustainable and equitable path forward.

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If you want a glimpse into the future once Trump/Musk start tearing up all the US regulations and consumer safeguards in favour of maximising corporate profits then look no further than what happened to the UK water utilities after 12 years under the Tories: 1) Privatisation of pretty much every public utility 2) Massive profits and record dividends and bonuses 3) Loading up the companies with debt to enable cash payouts and share buy-backs 4) Big reduction in service standards leading to the mass dumping of raw sewage in our river, lakes and beach fronts

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Really useful post from Hannah Ritchie summarising the PHEV vs BEV debate For me it’s clear that BEVs are the future - and that we need to incentivise the purchase of them to keep the momentum of rapid market scale up that we’re now seeing … hopefully new battery chemistries will drive down costs and lifetime carbon even more… #climatechange #climatecrisis #energytransition #electricvehicles https://lnkd.in/e4QnwujA

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Founders and business owners will be relieved to hear the Chancellor’s continued support for the Business Asset Disposal Relief (BADR), which is vital for incentivising entrepreneurs to take the risk of starting their own businesses. After rumours of BADR being abolished completely, maintaining the £1 million lifetime limit on gains is a good outcome for entrepreneurs. Although relief will increase from its current level of 10% to 14% in April 2025 and 18% from 2026, this maintains a significant gap compared to the higher rate of capital gains tax (CGT). The news is also a victory for thousands of workers with access to equity-linked rewards like employee share schemes. While founders were the focus of much of the discussion around BADR ahead of the Autumn Statement, it also provides relief to employees who benefit from a successful exit. These schemes are vital for the founders and workers generating the growth that is important to the government’s goal of restoring public finances. Schemes like BADR, the Enterprise Investment Scheme (EIS) and similar initiatives such as the Enterprise Management Incentive (EMI) employee share scheme are rightly acknowledged as the global gold standard and have put the UK at the forefront as an incubator of innovative startups. We will need more of these schemes to provide a relative ‘safe space’ to help businesses scale, so they can bring their full economic potential to this country, rather than being bought and taken offshore. You'll find the full budget here: https://lnkd.in/egB9PZu8 Let me know your thoughts on yesterday's announcements!

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One of our portfolio companies, Tradeaze UK LTD, is a fantastic example of the type of businesses we love to invest in. Co-Founder, Jack Hopkins, is an electrician by trade. During his time as an electrician, he experienced first hand the pain that came with ordering parts and tools for trade jobs. He and his team would regularly have to leave projects to go and collect new parts, spending hours travelling to and from warehouses and hardware stores, often stuck in traffic. This is the same experience across the industry. Jack soon discovered his opportunity to fix this pain point and Tradeaze was born. Initially, to understand if there was a market for his service, Jack bought an iPhone which he used to communicate with tradespeople. He’d approach potential customers in the street, hand out flyers or post in Facebook groups handing out the Tradeaze number. After a while, tradespeople would ask Jack to pick up a box of screws or a spare part, which he would deliver on his bike with a sum up machine to take payment. After a while as the only delivery rider, Jack brought on a bigger team, giving him more time to develop the business. Tradeaze then started working with merchants directly, seeing this as a much better commercial option. As an MVP, Jack gave the merchants a tablet in kiosk mode with an online form to fill in requests. Tradeaze would receive an email with the request and deliver it directly to the tradesperson. Seeing the viability and need for the service, Jack then brought on co-founders Joe Blair and Ruben Engel. Joe had experience building multiple businesses, helping build one from Seed to Series B so joined to sort the commercial and financial sides of the business. Ruben has built multiple tech products for various businesses and joined to build out the tech side of the business. Now, they’re continuously scaling the business, developing their tech and looking to move into new markets… and working with us ! It’s the perfect example of a domain expert, seeing a real pain point within their industry, scrapping together an offline/low-tech proof of concept and finding product market fit.   It’s everything we love to see in the founders and businesses we work with ! #investment #startups #founders ------ If you liked this post, I also have a newsletter where I speak about topics like this in more depth. You can subscribe in the comments below. See you there !

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Should household recycling be simple. Please share your thoughts? Households in England will be able to put recyclables in one bin under simpler collection rules, the government has announced. The Environment Department (Defra) announced on Thursday that the same materials will be collected from homes, workplaces and schools across the country in order to end the confusion caused by councils operating different systems. Under the new rules, people will be able to put plastic, metal, glass, paper and card in one bin. Councils will also be able to co-collect food and garden waste. Defra said the new measures will mean households no longer have to check which materials their specific council will accept for recycling. They will also reduce complexity for waste collectors and boost recycling rates, it added. Elsewhere, the government said it is supporting councils to increase the frequency of collections in a bid to prevent bins from cluttering streets. A minimum backstop will be introduced so that councils are expected to collect black bin waste at least fortnightly, alongside weekly food waste collections, it announced. Recycling Minister Robbie Moore said a "patchwork" of different bin collections across England means it can be hard to know what your council will accept. “Our plans for Simpler Recycling will end that confusion: ensuring that the same set of materials will be collected regardless of where you live," he added. Paul Vanston, chief executive of the Industry Council for Packaging and the Environment (INCPEN), said households can take this government announcement as a pledge that local councils all over the country "will all speedily implement recycling collections of the full range of materials that will match on-pack recycling labels citizens rely on for guidance”. Defra said the plans will apply to all homes in England, including flats. https://lnkd.in/e8x7uGCW UK government Department for Environment, Food and Rural Affairs (Defra) Robbie Moore MP

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The construction industry is known for their significant carbon footprint, with nearly 90% of its emissions stemming from cement production. Obviously, there is an urgent need for innovative solutions. That’s why breakthroughs in cement manufacturing - like the one below - can be game-changing, offering a profound opportunity to reshape the industry’s environmental impact.

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Looking forward to this, and in the coming weeks will be badgering people for contacts in the German energy networks, supply chain, authorities etc to see how we can help speed up good decisions relating to #hydrogen on the what/ where/ when/ how #wasserstoff

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🚨LinkedIn - I want to hear from you... 🗺️ We recently launched the UK’s first map of green-tech investors.  Adopter (✅ B Corp) developed the map to help startups connect with the investors that they need to scale. We want your input to continue improving it. 👀 You can take a look at the map by clicking here: 🔗 https://lnkd.in/evahWDZp Comment below to let me know: ➕ Any green-tech investors you think we should add 💡 Other details or features that we could include in the next iteration 📣 Any other thoughts and suggestions 🟢 We want the tool to benefit the green-tech community, so your feedback is invaluable to us. (Ft - my pitch introducing the map at the FinTech North Newcastle Conference last month).

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Anticipating ECO5: The Next Step in Britain's Green Journey With the government's ongoing commitment to environmental sustainability and the target of carbon neutrality by 2050, the "upcoming" ECO5 scheme is expected to introduce ambitious measures to make Britain greener. If there is to be an ECO5, I'm going to be dropping what I think it will look like over the next week. First point though: Broader Eligibility & Deeper Retrofits Expanded Access: ECO5 may widen eligibility to include more low-income and vulnerable households, supporting a larger demographic in energy efficiency improvements. Whole-House Upgrades: Even more of a push to a comprehensive, whole-house retrofits—addressing insulation, renewable heating, and smart energy systems together. Do you think they will lower the access barrier so more people can access the scheme?

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I am thrilled to announce the launch of the UK Net Zero Business Census, a ground-breaking research survey to determine the number of businesses in the UK with net zero targets.   This initiative, delivered by the UK Business Climate Hub in partnership with Planet Mark, aims to be the largest of its kind, setting a definitive benchmark for the private sector's role in achieving the UK's ambitious 2050 net zero target.   Together with over 40 partners, we embark on a journey to engage as many businesses as possible across the UK - regardless of size, industry or sustainability credentials, unravelling the depth of their commitments and actions in driving positive change for society, business and nature. This is about increased transparency, accountability and shared responsibility on the journey to net zero.   The urgency to support the UK's transition to net zero has never been clearer. This research will provide crucial insights, from the prevalence of net zero targets among businesses to the concrete steps taken to reduce carbon footprints.    I am immensely optimistic that the forthcoming report will shed light on the shared experiences, challenges and successes of businesses on a net zero pathway, guiding us toward the necessary actions to support them. We can and must inspire others to join the race to zero, catalysing a wave of transformative change across industries and sectors.   Together, let's move towards a more sustainable future, where innovation, collaboration and unwavering commitment propel us closer to the national 2050 net zero target.

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If we are serious about climate change, we need to collaborate like never before. This is why I'll be running this LinkedIn Live with Matt Ward on July 24 at 5pm UK time. And I'd love to see you there. Matt has been a driving force in creating 4WARD and Climate Techies, a worldwide movement of professionals and stakeholders joining forces to tackle climate change. In this session, you will: ✅ Learn how to foster collaboration to tackle climate change effectively ✅ Discover the benefits of breaking down siloes between communities, groups, and stakeholders ✅ Get insights into the resources available through the Climate Techies platform ✅ Ask questions directly to Matt Ward The event will be divided into: 1️⃣ 45 min fireside chat with Matt Ward 🔥 2️⃣ 15 min interactive Q&A 🗣️ Come join us and let's collaborate like never before! Link in the comments =) Update: the event will now be on Wednesday 24th July (instead of 17th July). Hope you can still make it!

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As we wind down the year, let us take stock of what is happening in the UK tech investment landscape. Deal Lite just reported the weekly stats. If you have not received it in your inbox, please subscribe at https://lnkd.in/efmz5xBP UK Tech Investment News by Deal Lite - Week 337 A total of £200 Million was raised by 21 UK technology companies during the period ending 8th December 2024. Total raised this year so far is: £9.069 billion. Last year, it was £9.749 billion. 2021 was the mega year with £21.292 billion. Would 2025 be the turnaround year? With Syria falling and the conflicts accelerate, no one can predict the future. One thing is sure though. There would be more investment going into DefenceTech as alluded by Steve Blank - Steve is calling for private sector to get involved. I prefer no wars altogether but humans are complex beings who cannot live in harmony. Let's take a quick look at some of the companies who announced investment rounds last week: - Wexler raised £1.1 million Pre-Seed round led by Myriad Venture Partners. Wexler is incubated by Entrepreneur First. Gregory Mostyn is the CEO. - Jove Insurance raised £3.6 million Seed round led by Explorer. Want access to data? Subscribe https://lnkd.in/dcBH9kx Join us on 18th https://lu.ma/5se8gmqs to learn more and meet other tech founders. #DealLite #TechInvestment #funding #investment #venturecapital #seed #seriesA #preseed

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💷 ⬇ ⚡✅ Cheaper ‘Plunge Pricing’ arrives on public EV charging This is one we’ve been very excited to bring to life: combining public EV charging with energy market flexibility to bring cheaper charging to drivers. Plus in doing so, create a stronger consumer link between charger pricing and the energy grid that powers them. The very first Plunge Price event was fascinating: it was a 40% discount. But for ‘just’ two operators (both destination charging rather than on-street), and for two hours from 10pm-12am. I.e. required some driving effort at an unusual time of day in order to benefit. Yet, we saw a 490% uplift in charging sessions during that first event compared to normal activity, and increases of similar scale have continued in subsequent sessions. A cool example of how charging behaviour can be shifted to the benefit of all. These events have been first steps: recent Plunge Price events have included more CPO operators, and at different times of day. We’ll be working to open public charging up to a wider variety of market and grid signals so we can increase the regularity of driver savings https://lnkd.in/es-e7bbZ https://lnkd.in/eERUrf2J Octopus Electroverse Taichi Hobbs (Matsumoto) Kori Noonan

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2024 is no better than 2023. UK Tech investment landscape surely can't get any gloomier than this, could it? Up to date data from https://deallite.uk Please note we only cover UK Tech Companies. #techinvestment #venturecapital #vc #privateequity #equityinvestment #equity #tech #uktech #techcelerate #deallite #deals #techdeals #funding #techfunding #investment #seed #seriesA #preseed #growthcapital

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SwimAbility.co.uk is now available for sale through Sedo.com. This is a premium domain name that encapsulates the essence of #swimming and aquatic activities. This domain is not just a web address; it’s a brandable asset that can elevate your business in the swimming industry. Why Choose SwimAbility.co.uk? Memorable and Brandable: The name “SwimAbility” is catchy, easy to remember, and directly relates to swimming and #wateractivities. It evokes a sense of skill and capability in swimming, making it perfect for businesses focused on #swim lessons, #aquaticfitness, or #watersports. Targeted Audience: With an increasing number of individuals seeking swimming lessons and aquatic #fitness programs, this domain positions you perfectly to attract parents looking for swim classes for their children or adults interested in improving their swimming skills. SEO-Friendly: The inclusion of “swim” in the domain name enhances its search engine optimization (SEO) potential. This means that your website will have a better chance of ranking higher in search results related to swimming, thereby driving more traffic to your site. Versatile Applications: Whether you are starting a #swimschool, launching an online store selling swim gear, or creating content around aquatic fitness, SwimAbility.co.uk provides the flexibility needed for various business models within the swimming niche. Professional Image: Owning a .co.uk domain adds credibility to your business. It signals professionalism and trustworthiness to potential customers who are searching for reliable services or products related to swimming. This domain not only represents your passion for swimming but also serves as a powerful tool for building your brand in the aquatic industry. Don’t let this chance slip away. #swimability #domains

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