Participated · Seed · Sep 2023

Renew Risk builds proprietary risk models and analytics for renewable energy assets, supplying (re)insurers, brokers, bankers, developers and asset managers with insights into physical hazards. Its models quantify risks from events such as hurricanes, earthquakes and severe connective storms affecting offshore wind farms and solar farms. The platform enables financial-market participants to make data-driven decisions, supporting more resilient and sustainable coverage and investments. Renew Risk has established itself as a trusted partner within the insurance industry, with a number of clients currently using the product. With the new £5 million funding, the company plans to scale by enhancing its risk-model suite, expanding its team of risk modellers and climate experts, and extending its market reach globally. Renew Risk is a London-based clean-energy risk analytics SaaS company that provides risk assessment solutions for (re)insurers, insurance brokers, and offshore wind developers. Led by CEO Ashima Gupta, its data-science-driven risk modelling software calculates the frequency and severity of financial losses due to natural disasters for billion-dollar renewable energy assets constructed offshore and in disaster-prone regions. The product enables (re)insurers to understand risk and confidently provide capacity, helping secure insurance and thereby facilitate financing for large offshore wind projects. Renew Risk already has models live with global (re)insurers supporting the transition to green energy. The company raised £1.7M in Seed funding and plans to use the proceeds to engage customers across the US and Asia and to build products covering additional asset classes.

Participated · Equity · Mar 2012

Surrey NanoSystems produces nanostructured materials such as carbon nanotubes and graphene using a proprietary low-temperature synthesis technology and custom-built equipment. The low-temperature capability enables these materials to be applied to lightweight, temperature-sensitive structures where conventional synthesis would be too hot. The company developed Vantablack®, launched at the Farnborough International Air Show in 2014, which absorbs 99.96% of incident radiation. Surrey NanoSystems was spun out of the University of Surrey in 2006. It has raised around £8m in equity funding to date alongside substantial non-dilutive grant funding. Parkwalk first invested in the company in 2012 and has provided a follow-on investment via the Parkwalk Opportunities EIS Fund and a Parkwalk Syndicate. Surrey NanoSystems, based in Newhaven, UK, develops processes and materials to enable use of nanomaterials in semiconductor fabrication, clean tech and renewable industries. The company has created a new class of high‑performance dielectric material for inter‑layer or inter‑metal insulation that offers an alternative to current ‘low k’ materials and resists the liquid chemicals used in semiconductor processing. It also develops a process for growing carbon‑based interconnections or ‘vias’. Surrey NanoSystems provides tools to support nanomaterial research and development at partner sites. The company is led by CEO David Wong and Chairman Lars McBride. The firm raised capital to commercialize its dielectric thin film and the carbon‑via growth process.