The Venture Codex Logo

The Venture Codex

Clean Growth Fund

Pennine Place, 2a Charing Cross Road, London, England, WC2H 0HF, United Kingdom

Overview

The Clean Growth Fund, London, invests in companies focussed on driving clean growth in the low carbon economy.

Total investments
20
Lead investments
15
Investments · 12mo
3
Active investors
6

Sector focus

  • Finance
  • Financial Services
Visit website

Investment portfolio

  • Meatly

    Participated · Series A · May 2026

    Meatly was launched in 2022 and develops cultivated meat products, having achieved regulatory authorization in 2024 and sold the world’s first cultivated pet food in 2025. The company reports major cost reductions—its chemically defined protein-free medium reached £0.22 per liter in 2024 and it reduced bioreactor costs by about 10x in 2025—which it says underpin commercial viability. Meatly plans to build a 20,000-litre bioreactor facility in London, described as Europe’s largest of its kind, with fit-out beginning immediately and product releases expected in 2027. Financially, the company has raised £17.4 million to date, comprised of a £7 million seed round (led by Agronomics and Pets at Home) and the £10.4 million Series A announced here. Meatly frames these technical and regulatory milestones as the foundation for scaling commercial output and entering broader markets by 2027.

  • Clean Food Group

    Led · Equity · Apr 2026

    Clean Food Group develops and manufactures functional oils and fats via its proprietary CLEAN OilCell™ fermentation platform, producing CLEAN Oil™ and CLEAN Fat™ from food waste feedstocks using scalable yeast strains. Founded in 2022 after eight years of research, CFG has validated its manufacturing process at scale and acquired a one million-litre fermentation facility in Knowsley, Liverpool in 2025. Its CleanOil™ 25 product received approval for use as a cosmetics ingredient in the UK, US and Europe in 2025. The company has strategic and industrial collaborations with leading FMCG and ingredients manufacturers, including Döhler Group, and reports a strong demand pipeline. The recent £4.5 million investment plus a £700,000 Innovate UK grant are intended to fund completion of the Knowsley scale-up, expand capacity and accelerate commercialisation of its products.

  • AmpliSi

    Led · Seed · Mar 2026

    AmpliSi develops a proprietary porous silicon anode material produced via a low-temperature process that converts abundant silica into porous silicon intended to replace graphite in lithium-ion batteries. The material aims to enable lighter, longer-lasting batteries for applications including electric vehicles and energy storage systems. The company was spun out of the University of Sheffield and co-founded with company builder Cambridge Future Tech, and is led by CEO Dr Ruth Sayers. AmpliSi holds intellectual and process know-how around its low-temperature conversion and porous silicon production. In March 2026 the company raised £2 million in a pre-seed round led by Northern Gritstone and Clean Growth Fund to fund industrial scale-up and early customer engagement. No revenue, user, or valuation metrics were disclosed in the article.

  • Arda Biomaterials

    Participated · Equity · May 2025

    Arda Biomaterials develops chemistry and materials technology that converts brewery and whisky waste barley proteins into novel plant-based materials, including a leather-like product called New Grain™ for fashion and retail. Its chemistry platform manipulates plant proteins to replace plastics and to mimic the structure of animal-derived proteins such as silk, wool, feathers and leather. The company is led by CEO Brett Cotten and CTO Dr. TJ Mitchell and is focused on material applications of plant-based proteins. Arda is building a new facility in Kernel Brewery in London to scale production of its first innovation. The company plans limited consumer availability of New Grain™ as early as later this year. It raised funding to advance R&D and scale its technology. Arda Biomaterials develops New Grain™, a leather alternative made from waste barley grain from the brewing industry using chemistry and materials science. The material has been developed entirely plastic-free to date and biodegradability tests are planned. The company works with breweries along the Bermondsey Beer Mile in South London as it refines its process. Arda aims to supply the fashion, home goods, and automotive industries with its animal- and plastic-free material. The company raised £1.1M to support expansion of operations and business reach. Founded in 2022 by Edward TJ Mitchell and Brett Cotten, Arda expects a finished, brand-ready material within the next twelve months.

  • measurable.energy

    Led · Equity · Oct 2024

    Measurable Energy develops smart socket hardware combined with AI-powered detection that automatically identifies idle devices and cuts their power to reduce energy waste. The company says its technology can cut energy costs and carbon emissions by up to 50% in office settings. Its solution targets sectors such as commercial real estate, hospitality and public services (including NHS hospitals). Measurable Energy has already secured contracts with customers including Balfour Beatty Vinci, Morgan Sindall and PKF Francis Clark. The business has seen revenues increase by more than 10x since its initial funding from Clean Growth Fund in 2023. The company is using new funding to expand internationally and scale sales and deployment. measurable.energy builds smart sockets that combine machine learning and software to automatically identify devices, report granular real-time energy data, and turn devices on or off to avoid wasted energy. Its product targets ‘Small Power’ waste from devices like printers, AV equipment, taps, monitors, and heaters that are often left on or in standby. The company sells hardware and software together, with customers including Kier Group, University of Reading, and Reading Borough Council. Led by CEO Dan Williams and founded in 2018, the company is headquartered in Reading, UK. measurable.energy raised a £4.5M Series A to support growth. The company intends to use the funds to accelerate growth and expand operations.

Team

  • Beverley Gower-Jones

    Founder & Managing Partner

    LinkedIn
  • George Whitehead

    Chairman and Advisory Board Member

    LinkedIn
  • Stephen Price

    Investment Director

    LinkedIn
  • Susannah McClintock

    Investment Director

    LinkedIn