Maven invests £3m in climate tech software platform

Maven Capital Partners (“Maven”), one of the UK’s most active investors in growing businesses, has today announced that the Maven VCTs have invested £3m, alongside Amati AIM VCT, investing £2m, in Manufacture 2030 (“M2030”).

Manufacture 2030 (“M2030”) is an Oxford-based technology company, that works with some of the world’s largest businesses to reduce greenhouse gas (“GHG”) emissions across the value chain, including hard-to-measure, third party ‘Scope 3’ emissions.

M2030’s highly scalable SaaS platform and support services enable suppliers to measure, manage and reduce their environmental impacts, cut costs, and reduce risks, all while helping their customers meet their climate goals.

Its suite of tools and best-practice data, enables suppliers to baseline waste, water and GHG emissions, at a site level, and then build and implement detailed reduction plans to achieve science-based net zero targets. M2030’s platform currently supports thousands of suppliers in over 70 countries convened by more than 30 global supply chain programs, including those of Asda, Bayer, Ford, GSK, Reckitt, and Toyota.

The funding from the Maven VCTs and Amati AIM VCT will be used by M2030 to capitalise on opportunities in key global markets, including the pharmaceutical, retail, automotive and consumer packaged goods, while expanding into carefully selected new sectors.

The investment will also be used to accelerate product development, adding new functionality to its innovative, proprietary software platform, and scaling its go-to-market capacity across North America and continental Europe.

The business occupies an attractive position in a rapidly growing market that has strong underlying drivers, as global corporations and organisations seek to achieve net zero targets set by government and intranational institutions. A robust and implementable climate action plan is increasingly becoming a prerequisite for suppliers to be selected by their customers. M2030 makes it easier for suppliers to achieve this.

Luke Matthews, investment director at Maven, said; “The manufacturing sector and its 17 million factories are responsible for a third of global energy consumption and 36 per cent of carbon emissions.

“As a result, sustainability has become increasingly prominent in the agenda of corporate decision makers and solutions such as M2030’s are playing a critical role in helping manufacturers to become more resource efficient and minimise their environmental impact.

“The investment in M2030 represents an excellent opportunity for Maven to enter a rapidly developing market at an early stage and back a business which has already demonstrated good commercial traction.”

By Mark Adair – Correspondent, Bdaily