Earlier this year, we sat down with newly joined Cleantech for UK coalition member, Robert Hokin, founder and Managing Partner at Greenbackers, to discuss how they are playing a role in the growth of cleantech in the UK. A veteran in the cleantech sector, Robert has been involved since cleantech emerged as a distinct asset class. With 35 years of experience in tech development, M&A, and finance, Robert now seeks to support cleantech through policy advocacy.
“It is absolutely crucial for the Government to empower those creating innovative solutions” – Robert Hokin, Managing Partner, Greenbackers
Cleantech for UK is continually expanding our coalition, uniting key players within the cleantech community to advocate for technologies that can achieve net-zero and create prosperity across the UK. One of the latest organisations to join Cleantech for UK is Greenbackers. With a mission to accelerate capital flows into cleantech, Greenbackers Investment Capital is a global funding and service program that connects VC funds, corporate venture funds, impact funds, and other aligned organisations to growth-stage investment opportunities. Their focus is on helping ventures secure their first institutional funding, a process that typically spans A, B, and C funding rounds.
“I saw the market potential in helping reverse humanity’s detrimental impact on the planet: we consume vast resources and produce substantial waste. The industry is now worth trillions. We now need a strong, unified voice for our industry. Up to now, we've seen advocates for specific cleantech sectors like e-mobility and renewables, but cleantech at large needs stronger representation.
We need to pull policy levers that shape industries and capital markets, which is why Greenbackers are keen to amplify our voice as part of the UK for Cleantech community."
“Our focus is on providing the first institutional funding for cleantech companies at late seed and Series A, B, and C stages. Institutional capital can be difficult for founders to access—worlds apart from what angels and early-stage investors provide. Our funds are specifically tailored to cleantech, or are generalist funds with a strong cleantech mandate.”
“Our observations largely align with those of policymakers as far as creating an investment-friendly environment for both domestic and international funds. But the UK lacks some critical support structures and, more importantly, we need rock-solid consistency from government policy. Whatever type of policy support is offered—whether through regulatory measures, incentives, or technology mandates—it needs to be long-term and predictable. Market signals that drive cleantech investment will only be strong enough if there is a steady course over time.
Support for innovation must extend throughout the entire lifecycle, from early-stage R&D to commercialization and scale-up. Currently, there is a ‘valley of death’ most innovators face when building first-of-a-kind projects. While there are some pathways to funding, they need significant strengthening. The regulatory landscape must prioritize cleantech innovation. Innovators aren’t asking for blank checks—they want stable regulatory environments to market their products, robust infrastructure, and a competitive landscape where new entrants can thrive alongside established players."
“It is absolutely crucial for the Government to empower those creating innovative solutions. There are many climate challenges that still lack technological solutions, but such solutions can be developed if the UK remains an attractive place for brilliant minds and an exciting market for scaling innovation.
To achieve this, prioritizing the most innovative solutions is key. For example, the recent £20+ billion allocated for Carbon Capture and Storage could have a transformational impact if directed toward start-ups and scale-ups that design carbon out of their processes from the outset.
The Government has unique levers it can pull to support cleantech growth. For instance, it can use tax measures and public spending to build up essential infrastructure, like an expanded and modernized electric grid, that supports an electrified industrial economy. It can also encourage consumer adoption of new technologies. Globally, we've seen governments use subsidies and discounts to stimulate the electric vehicle market, and public procurement could play a similar role. By electrifying its own vehicle fleet, for instance, the Government can lead by example.
These are just examples, but at the core, the cleantech community needs proactive Government action for it to reach its full potential."
