Top 10 Clean Energy Companies UK

Lily Ruaah, 23 November 2023

In 2022, the UK achieved a new milestone by generating an unprecedented supply of energy from renewable sources. Researchers found that 40% of the UK’s electricity came from solar, wind, biomass, and hydropower, marking a 5% increase from 2021.

More and more of us are searching for clean and renewable energy options—and this goes beyond the individual. Businesses and investors are looking at how they can capitalise on this movement, and we’re seeing a rise in the creation of clean energy companies.

In fact, since 2013, we’ve seen the number of active clean energy companies rise from 48 to 243. And with the decarbonising transport promise from the UK government, we’re likely to see this number continue to grow. Here at Beauhurst, we thought now is a good time to look at the top clean energy companies in the UK, and what those companies are doing.

What is clean energy?

Clean energy refers to renewable energy sources that produce minimal or no pollution or greenhouse gases, making them environmentally friendly. The alternative is fossil fuels like coal, oil, and natural gas, which release carbon dioxide and other harmful pollutants when burned. Clean energy sources have a much lower impact on the environment.

Why is clean energy important?

Clean energy is crucial for various reasons. Environmentally, it helps combat climate change and reduce air pollution by emitting little to no greenhouse gases, protecting ecosystems, and public health. From a sustainability perspective, clean energy relies on renewable resources, offering a more stable and secure energy supply for the future, unlike finite fossil fuels—this means it could last (in theory) forever.

Economically, the growing clean energy sector generates jobs and drives growth, especially in regions where traditional energy industries aren’t possible. The shift to clean energy is often accompanied by government incentives and policies that encourage further development in this area—these policies can create a more favourable business environment for clean energy, attracting both domestic and foreign investments.

Health-wise, clean energy improves air quality, potentially reducing respiratory and lung diseases. Additionally, the costs of renewable energy sources have become increasingly competitive with traditional fossil fuels, often being the most cost-effective choice for new electricity.

Who can benefit from our Clean & Renewable Energy ESG signal?

While our ESG signals are useful for any business interested in companies with strong ESG credentials, they are particularly beneficial for councils or local governments searching for greener energy solutions for their region. We support councils with access to easy, searchable data so they can find exactly what they need, such as Lancashire County Council. With Beauhurst, they can access real-time information, with a comprehensive overview unavailable elsewhere.

See how Lancashire County Council finds and supports scaleups with Beauhurst.

ESG signals should be on everyone’s radar. Many of us prefer to work with people who share our ideals and this is why ESG data is essential for investors. Companies such as Puma Private Equity use Beauhurst to help them make important decisions without hours of research. Combining our all company and ESG data, Beauhurst can offer you the most comprehensive dataset out there.

Methodology

We used a unique methodology to select our top 10 clean energy companies.

We’ve ranked seed, venture, growth or established-stage private companies by the amount of equity raised since the beginning of the year (1 January 2023). The data is accurate up until 08 November 2023. These businesses are all headquartered in the UK and have hit our Clean & Renewable Energy ESG signal.

Top 10 clean energy companies

We’ve ordered our companies from 10 to one.

10.

Xlinks

Total amount raised: £41.6m
Established: 2019
Location: East of England, UK

Xlinks is at the forefront of renewable energy technology, focusing primarily on harnessing the power of wind and solar energy. This innovative approach allows them to tap into sustainable and eco-friendly sources of energy, contributing significantly to the transition towards cleaner power solutions.

The company has secured four fundraisings since 2019—totalling £41.6m. The most recent was for £30m in April 2023.

09.

Bowman Power

Total amount raised: £58.9m
Established: 2001
Location: South East, UK

Bowman Power specialises in creating and producing turbo generators that transform excess heat generated by engines into practical energy. The company developed TorqIQ technology, which has been used to create fast-start electric compressors.

Bowman Power has been featured on four high-growth lists: Fast Track Tech Track 100 twice, Deloitte Fast 50, and Deloitte Fast 500. Since 2001, the company has secured a huge thirteen fundraisings and five grants. The most recent fundraising was for £800k in early 2023.

This company hit both our Clean & Renewable energy signal and our Environmental Accolades signal.

08.

HVS

Total amount raised: £60.6m
Established: 2017
Location: West of Scotland, UK

HVS (Hydrogen Vehicle Systems) is a pioneering company dedicated to advancing eco-friendly transportation solutions. They specialise in designing and manufacturing zero-emission vehicles, specifically tailored for the transportation industry.

Since 2017, this Glaswegian company has secured five fundraisings—the most recent was for £30m in mid-2023. It has also been given eight grants totalling £16.7m.

This company hit our Clean & Renewable energy signal, as well as our Environmental Accolades and Green Transport signals.

07.

Myenergi

Total amount raised: £61.8m
Established: 2016
Location: Yorkshire and The Humber, UK

Myenergi creates renewable energy products designed to enhance the efficiency and sustainability of current systems. For example, they’ve developed the zappi—a solar or wind-powered EV charger.

Myenergi has secured four fundraisings since its inception in 2016, and one received one grant for £71.5k. Its most recent funding was for £30m in October 2023. It’s been featured on four high-growth lists: Startups 100 in 2021, The Sunday Times 100 in 2022, and Top 200 Women-Powered Businesses, and The Sunday Times 100 again, both in 2023.

This company hit our Clean & Renewable energy signal as well as our Environmental Accolades and Social Impact Accolades signals.

06.

HomeTree

Total amount raised: £65.4m
Established: 2015
Location: London, UK

HomeTree is a residential energy service provider. It’s developed products and services—such as heat pumps, solar PV, batteries, and EV chargers—to help customers install and manage renewable energy solutions.

HomeTree was featured on the Startups 100 in 2018, and attended one accelerator conference: NEF+. It has secured seven fundraisings since 2015, totalling £65.4m. The most recent funding was in April 2023, for $46m.

This company hit both our Clean & Renewable energy and Environmental Accolades signals.

05.

Nyobolt

Total amount raised: £68.2m
Established: 2019
Location: East of England, UK

Nyobolt specialises in creating battery technologies that charge quickly while addressing the common issue of battery degradation often linked with rapid charging methods.

Nyobolt is an academic spinout from the University of Cambridge, and attended the Technology Developer Accelerator Programme in 2020. The company has secured five fundraisings since its inception—the most recent being $10m in early 2023. Nybolt has also received a staggering eight grants, totalling £2.08m.

This company hit both our Clean & Renewable energy signal andEnvironmental Accolades signals.

04.

Tevva

Total amount raised: £111m
Established: 2013
Location: East of England, UK

Tevva manufactures Electric Range Extended Vehicles (EREVs), designed specifically for urban delivery applications. It assists medium and heavy-duty urban freight and logistics operators reduce harmful, freight-related emissions through their market-leading products and services.

The company has secured eight fundraisings in the past 10 years, £111m in total. It also received a massive 11 grants, totalling £10.8m. It has taken part in two accelerators: ELITE in 2016-2018 and the Mayor’s International Business Programme.

This company hit our Clean & Renewable energy signal, as well as our Environmental Accolades and Green Transport signals.

03.

BBOXX

Total amount raised: £140m
Established: 2010
Location: London, UK

BBOXX offers and sets up off-grid solar panel systems in communities located in countries where electricity supply is unreliable.

BBOXX has been featured on seven high-growth lists: the Startups 100 twice, Mishcon the Leap, and the Fast Track Tech Track 100 four times. The company has secured an impressive 14 fundraisings since 2010—totalling £140m. The most recent was for £499k in May 2023.

This company hit our Clean & Renewable energy signal, as well as our Age Diversity of Directors and Social Impact Accolades signals.

02.

Field

Total amount raised: £240m
Established: 2020
Location: London, UK

Field is dedicated to constructing renewable energy infrastructure, with a particular focus on energy storage solutions. Effective energy storage systems are essential for stabilising the grid and ensuring a consistent energy supply despite the variability of these renewable sources.

In support of its mission, Field has successfully raised a substantial amount of capital. The company has secured £240m across four funding rounds. A substantial portion of this, amounting to £200m, was raised in 2023 alone.

01.

Sonnedix

Total amount raised: £284m
Established: 2009
Location: London, UK

Sonnedix focuses on sustainable growth. It develops, builds, and operates renewable energy projects for the long-term, with the aim of providing green, affordable electricity. They have over 700 projects currently in operation, and the company has gone from strength to strength.

Sonnedix recently attained £34.4m in fundraising—following on from £210m raised in 2022. The company also hit a 20% scaleup over a three-year period, and has offices in 10 countries.

As we’ve seen, the trend towards clean and renewable energy is gaining momentum, not just among individuals, but also within the business and investment communities. There’s a noticeable increase in the establishment of clean energy companies, reflecting this shift.

As we move towards a greener future, it’s important to stay on top of the important data factors that will shape the UK private company market. Here at Beauhurst, we’re always at the forefront of data, and we’re ready to bring you what you need to make the right decisions. Book a demo with us and find out more about ESG data, clean energy, and finding the right companies for you.

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