According to the Department for Digital, Culture, Media & Sport (DCMS), impact tech firms have seen a 127 per cent increase in investment in the UK since 2018 and together, they are now worth £50bn and employ over 35,000 people.
The UK now has 12 “impact unicorns” which are companies in the space that are worth over £1bn. Of these, six of them are based outside of London, including Vertical Aerospace which is based in Bristol and is building zero-carbon, commercial flying taxis, ITM Power in Sheffield which designs and manufactures hydrogen energy systems and Ceres Power Holdings in Horsham which is creating low-cost next-generation fuel cell technology to enable companies to deliver clean energy at scale.
Other companies include energy firms Ovo and Octopus (pictured) which are focused on supplying customers with clean energy.
Impact investing has also been growing globally to keep track with investors keen to back companies that will generate positive...