Top 10 UK Green Transport Companies
Lily Ruaah, 09 November 2023
More frequent and extreme weather events seem to fill column inches every week—so it will come as no surprise that 80% of the UK population has some concern about climate change.
With studies indicating that 3.6b individuals currently reside in regions highly vulnerable to climate impacts, it’s clear that action and funding are needed to support organisations with sustainable aims.
Green transport companies are a crucial element of this.
What do we mean by green transport?
Green transport, also known as sustainable or eco-friendly transport, refers to modes of transportation that have minimal impact on the environment— promoting environmental sustainability and reducing the overall carbon footprint.
Green transport aims to:
- minimise pollution
- conserve energy
- reduce greenhouse gas emissions
Many of us will associate the term “green transport” with Electric Vehicles (EVs), which are becoming more and more popular. The number of newly licensed battery electric vehicles increased by 80% between 2020 and 2021, while the number of newly licensed petrol and diesel vehicles fell 8%.
Beyond this several forms of public green transport have emerged as alternatives to traditional, fossil fuel-dependent vehicles. In the case of this article, we’ve looked at all companies that make transport greener and more sustainable—that means food and package transport as well as public and private transport.
Why is green transport important?
Globally, transport accounts for a quarter of the world’s CO2 emissions. The transportation sector’s significant contribution to CO2 emissions underscores the urgent need for a transition to greener transportation options. As well as this, each year it’s reported 35,000 people die from air pollution, another side effect of diesel or petrol transport.
Introducing more green transport in the UK is essential in the global effort to combat climate change, reduce environmental degradation, and create a more sustainable future for the planet and future generations.
How has the green transport industry grown in the past ten years?
Sustainable transport companies have steadily increased over the past ten years, climbing to 68 active companies in the UK right now. This growth underscores the nation’s commitment to eco-friendly transportation solutions which the UK government is leading.
The Department of Transport came out with their commitment to decarbonise all forms of transport by 2050. By law, the UK’s emissions must now be net zero by 2050. In the summary of their commitments, they promise to:
- Invest £2b into cycling and walking with the aim that half of all journeys in towns and cities will be walked or cycled by 2030
- Ensure all buses and coaches are zero emission
- Deliver a net zero railway network by 2050 with sustained carbon reduction
- Commission a zero emission fleet of cars, vans, motorcycles and scooters
- Accelerate maritime decarbonisation
- Accelerate aviation decarbonisation
With the government’s continued support for eco-conscious transport companies, we should expect the green transport market to grow significantly over the next twenty years.
If you’re working in a council or local government, BeauhurstImpact can help you find the right eco-conscious companies to work with. If you’re not sure where to start, see our helpful article: How Do Councils Use Beauhurst?
Methodology
When selecting our top 10, we used a specific methodology to select high-growing companies in 2023, in the UK. We were only looking at companies in seed, venture or high-growth stages of evolution.
We’ve ranked private transport companies that focus on sustainability or have specialised eco-conscious factions on the amount of funding raised. These businesses are all headquartered in the UK and have hit at least one of our eight high-growth signals.
Our top 10 green transport companies in the UK
We’ve ordered our companies from 10 to one.
10.
Maeving
Total amount raised: £10.1m
Established: 2018
Location: West Midlands, UK
Maeving is a leading company specialising in designing and manufacturing advanced electric motorbikes. Leveraging cutting-edge technology and innovative design principles, they create motorbikes that cater to the eco-conscious consumer.
In total, it raised £10.1m in equity fundraising. The company also secured two grants totalling £950k. While many companies offer e-bikes or electric cars, Maeving stands out from the crowd by offering RM1 and RM1S electric motorbikes.
09.
LiNa Energy
Total amount raised: £10.1m
Established: 2017
Location: North West, UK
LiNa Energy specialises in the design and production of sodium-ion battery technology. This advanced energy solution is versatile and can be implemented in various applications, from stationary energy storage systems to automotive power units.
The company, an academic spinout from Lancaster University, has secured £10.1m over seven fundraisings and received six grants totalling £3.50m. It’s also taken part in two accelerators: the Faraday Investment Readiness Programme and the Technology Developer Accelerator Programme (TDAP). LiNa Energy is driving the energy industry towards a Net Zero future by offering a safer and more sustainable solution compared to traditional lithium-ion technologies.
08.
Forest
Total amount raised: £12.4m
Established: 2019
Location: London, UK
Forest, also known as HumanForest, has developed an app that allows users to hire e-bikes. The company’s aim is to decrease CO2 emissions by encouraging people to use cleaner transport options. Their ethos: “people opting to make their journey on a HumanForest e-bike emit zero greenhouse gases”.
Forest featured on the BusinessCloud TransportTech 50 in 2021 and the Startups 100 in 2023. Overall, the company has secured £12.4m through four fundraisings—the most recent was in April 2023 for £7m.
07.
Trojan Energy
Total amount raised: £14m
Established: 2016
Location: Aberdeen, UK
Trojan Energy produces compact street chargers for electric vehicles, designed to simplify the charging experience. Its unique Trojan HUB system provides rapid and cost-effective on-street charging, making EVs more accessible for everyone.
The Scottish company attended the AG Elevate accelerator in 2021-2022. Over the course of seven fundraising campaigns, the company has secured £14m. Additionally, it has received five grants, amassing £6.36m. These financial achievements underscore Trojan Energy’s potential and its pivotal role in shaping the future of the EV charging sector.
06.
Infinium Logistics
Total amount raised: £17.5m
Established: 2019
Location: London, UK
Infinium Logistics offers businesses first and last-mile logistics solutions by repurposing underutilised spaces like car parks. These transformed areas serve as hubs for e-charging ports and delivery lockers. The company’s ethos is to “leave the planet better than when they joined it”.
Infinium Logistics has secured £17.5m over three equity fundraisings. In the face of pressing issues such as climate change, geopolitical energy tensions, and the acute global lack of safe parking and clean refuelling zones, Infinium Logistics stands as a global leader in asset management and solutions, propelling the EV transport transformation. The company champions this cause by investing in real estate evolution, cutting-edge technology, and infrastructure to support the next generation of vehicle fleets.
05.
GoCycle
Total amount raised: £21.6m
Established: 2002
Location: London, UK
GoCycle manufactures electric bicycles. In 2002, Richard Thorpe, a former design engineer at McLaren Cars Limited, founded Karbon Kinetics with the ambition of bringing out an electric bike. Fast forward sixteen years, and Gocycle has made a global mark with its groundbreaking products, unwavering commitment, and trailblazing ethos.
The company has secured £21.6m over six fundraisings. The company’s vision is clear: to craft the finest urban electric bikes on the planet, and they’re on the road to continue growing.
04.
E1 Series
Total amount raised: £34.1m
Established: 2020
Location: London, UK
E1 Series is at the forefront of maritime innovation, focusing on the development of sustainable electric power boats specifically crafted for competitive racing. These boats blend cutting-edge technology with eco-friendly engineering, ensuring thrilling speeds without compromising environmental responsibility.
E1 Series has secured £34.1m over two equity fundraisings. As pioneers in this space, E1 Series aims to revolutionise the boating industry, demonstrating that sustainability and performance can coexist seamlessly on the water.
03.
GeoPura
Total amount raised: £40m
Established: 2018
Location: East Midlands, UK
GeoPura harnesses renewable energy sources to generate hydrogen fuel without emissions, championing a clean and sustainable approach to fuel production. Drawing from their expertise in delivering zero-emission power solutions across diverse sectors—including construction, film and TV production, and outdoor events—GeoPura utilises hydrogen technology.
GeoPura has received two grants totalling £174k since 2018, and secured £40m over three rounds of fundraising.The company’s aim is to produce and disseminate the significant energy needed to transition our global economies towards a decarbonised future.
02.
HVS
Total amount raised: £60.8m
Established: 2017
Location: West of Scotland, UK
HVS designs hydrogen-powered trucks with zero emissions, catering to the transportation sector’s evolving needs. With Net Zero rapidly approaching, the company has developed an advanced new HGV, enabling heavy-duty fleets to operate without emitting carbon.
HVS, based in Glasgow, has secured £60.8m over five fundraising—the most recent for £30m in July 2023 from Business Angels. The company has also received £16.7m from eight grants. These funds stand as a testament to HVS’s commitment to transforming the transportation sector and reducing its carbon footprint.
01.
Tevva
Total amount raised: £111m
Established: 2013
Location: East of England, UK
Tevva manufactures Electric Range Extended Vehicles (EREVs) tailored for the urban delivery sector. The company assists medium and heavy-duty urban freight and logistics operators in reducing detrimental, freight-related emissions using top-tier products and services. It’s at the forefront of the electric revolution, offering vehicles of varying weights suitable for a diverse array of duty cycles and applications.
Tevva has participated in two accelerator programmes: ELITE in 2016-2018 and the Mayor’s International Business Programme. It secured £111m over eight rounds of fundraisings and secured an impressive 11 grants totalling £10.8m.
The urgency to counteract the effects of climate change is quickly becoming more and more prevalent for anyone watching the news. And as the alarming statistics surrounding global warming continue to escalate, the spotlight intensifies on sectors like transport, which contribute substantially to the world’s carbon footprint.
Each of these businesses is making strides not only in innovative technologies and services but also in creating a scalable impact on the environment. By fostering cleaner transportation methods, they are shaping a more sustainable future. As consumers, stakeholders, or merely global citizens, supporting and acknowledging these companies’ efforts is paramount.
Green transport isn’t just an environmental endeavour; it’s rapidly transforming into a lucrative financial opportunity. As the world shifts towards sustainable solutions, the market for eco-friendly transportation is expanding exponentially.
Investors, entrepreneurs, and businesses are capitalising on this trend, recognising the immense profit potential. Ignoring this booming sector could mean missing out on substantial monetary gains. Not only does green transport promise a cleaner planet, but it also offers a promising avenue for substantial financial growth.
This article showcased ten exemplary companies in the UK, leading the charge in sustainable transportation but there are many more. Use Beauhurst’s new ESG signals to find data on the greenest and most sustainable companies in the UK.
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