International law firm Simmons & Simmons has today announced the first cohort of winners for its GreenTech Fund, the initiative that supports start-ups that are focused on using technology to mitigate the climate and biodiversity emergencies.
The winners, selected following an open application and interview process, represent the most innovative businesses in the sustainability and energy transition spaces and cover the rooftop-solar industry, the green hydrogen sector, sustainable fashion and carbon reduction / biodiversity enhancement projects.
Solar Options for Schools Ltd
Solar Options for Schools offers hands-on education packages for teachers and students covering renewable energy and sustainability. The packages are funded through revenue generated by the roof-top solar arrays installed on school rooftops. Their ambition is to scale internationally, including in developing countries, to provide accessible and affordable energy to those who need it most as well as to empower future generations with knowledge that may help our collective efforts to mitigate against the climate emergency.
Fairbrics
The Fairbrics engineers have found a way to utilise captured CO2 from the atmosphere, and turn it into synthetic fibres thereby developing circular manufacturing processes, reducing reliance on expensive fossil fuels and helping to create a market for concentrated CO2 which is fundamental to the economics of long-term, cross-sectoral decarbonisation strategies.
Rebalance Earth
Rebalance Earth is an initiative that is working to create a biodiversity token using blockchain technology that will leverage the voluntary carbon markets through a methodology relating to the enhancement of critically endangered species (such as African Forest Elephants) that play a vital role in capturing carbon dioxide and restoring ecological resilience.
Hydragonix
Hydragonix is a company with a mission to facilitate the technical optimisation of green hydrogen-producing electrolysers through sophisticated software and use of a purpose-built AI platform.
Each of the four successful businesses will get legal advice to the value of £25,000 from the relevant teams across the Simmons’ network.
Commenting on the outcome of the process, co-chair of the green room, Simmons’ environmental sustainability network, Ali Crosthwaite said: “We are extremely excited to be announcing the first cohort of our GreenTech Fund. It was an absolute privilege to interview all of our shortlisted businesses and have the opportunity to interact with universally awe-inspiring people devoting energy to such urgent and meaningful work.” She adds: “Simmons cannot wait to start working with our cohort to help them cut through their legal issues - so they can concentrate on their core missions tackling the climate change and biodiversity emergencies.”