Zero Carbon Capital invests in companies developing disruptive and scalable hard science-based decarbonisation technologies that can move the needle on climate change.
£100k - £1 million
Pre-seed and Seed
Zero Carbon Capital is a deep tech climate venture fund dedicated to combating climate change by investing in early-stage companies focused on breakthrough scientific innovations capable of drastically reducing CO₂ emissions, targeting reductions of at least 0.5 gigatonnes annually by 2050.
Mission:
Zero Carbon Capital’s mission is to combat climate change by investing in early-stage, deep tech companies that deliver breakthrough scientific innovations capable of transforming industries to drastically reduce emissions.
Goals:
Values:
Zero Carbon Capital was founded in 2019 by Pippa Gawley and Alex Gawley after their experience as angel investors in Silicon Valley and careers in technology and finance. Pippa's passion for deep decarbonisation technologies was sparked during her years in California's impact investing ecosystem, and upon returning to the UK, they established Zero Carbon Capital to tap into early-stage opportunities in frontier hard tech companies that remove barriers to decarbonisation. Their shared vision was to create a fund focused on high-impact, science-based climate innovations to accelerate hard-to-abate emissions reductions through early-stage investments.
Pippa Gawley Founder & Managing Partner
Alex Gawley Founder & General Partner
Zero Carbon Capital invests in pre-seed and seed-stage companies developing hard science-based, deep decarbonisation technologies capable of achieving large-scale CO₂ emissions reductions of at least 0.5 gigatons annually at full scale. Their focus is on sectors with the greatest potential carbon impact, including energy, food and agriculture, materials, transportation, and carbon dioxide removal. They seek transformational innovations that can reinvent physical processes driving emissions rather than incremental improvements or software-only solutions, prioritising breakthrough hardware and scientific advancements that can scale economically and compete on cost. Zero Carbon Capital particularly supports scientist-founders and early-stage ventures with strong scientific and engineering expertise, providing guidance on commercialisation and business strategy. Their investment thesis blends scientific innovation, significant emissions reduction potential, and commercial viability to drive the next industrial revolution in climate tech.
Zero Carbon Capital focuses its investments geographically across Europe. They invest in early-stage (pre-seed and seed) companies headquartered in Europe, mainly backing founders and startups that are embedded within the European ecosystem. Their team is based in London and Berlin, which supports their close engagement with European companies. They do not invest in companies headquartered outside Europe, even if those companies want to expand into Europe, as they emphasise being deeply embedded and experienced within their region.
Zero Carbon Capital invests in deep tech solutions for major CO2e-emitting sectors such as energy, industry, heavy transport, construction, raw materials, carbon removal, food, and agriculture. They focus on hard science innovations with the potential for large-scale emissions reductions, avoiding investments in software, fintech, or efficiency tools.
Zero Carbon Capital’s investment criteria center on identifying early-stage, hard science-based technologies with the potential to deliver large-scale climate impact, specifically, the capacity to reduce or avoid at least 0.5 gigatons of CO₂ emissions annually by 2050 at full deployment. They look for transformative, hardware-driven or physical science innovations rather than software or marginal efficiency solutions. A strong founding team with deep scientific and technical expertise is essential, as they prioritise ventures capable of translating rigorous research into commercially viable, scalable solutions. Their focus spans high-emission sectors such as energy, industry, transport, materials, food, and carbon removal, and every investment is evaluated through the lens of long-term, systemic decarbonisation potential.
Zero Carbon Capital assesses investments through a thorough process focused on large-scale climate impact, robust science-based technology, and strong founding teams. Candidates must provide clear, evidence-based plans to achieve reductions or avoidance of at least 0.5 gigatons of CO₂ emissions annually by 2050 at full scale. The fund prioritises breakthrough hardware and physical science innovations over software or incremental solutions. Their evaluation combines deep technical analysis from scientifically trained directors, expert advisor input, and quantitative emissions impact modelling. The diligence process is staged and covers technical, impact, legal, and operational review, with every investment requiring unanimous approval from the committee. This ensures a disciplined selection of companies capable of driving transformational decarbonisation.
Multus: Multus is a London-based biotech company that develops affordable, animal-free growth media for cultivated meat and other cellular agriculture products. By replacing animal serums like fetal bovine serum with formulations developed through engineered yeast and protein engineering, they enable scalable, sustainable, and cost-effective production. Their approach helps reduce environmental impact and supports the commercial viability of lab-grown meat. Multus also leverages machine learning and automation to optimize media development and operates a food-safe manufacturing facility to supply their products at scale. Visit Multus
Biozeroc: Biozeroc creates carbon-negative construction materials, primarily BioCem™, a biological cement made by using bacteria to grow limestone. This innovative process significantly reduces the carbon footprint compared to traditional cement, offering a sustainable, scalable, and cost-competitive solution for the construction industry. BioCem™ is durable, adaptable, and helps create more energy-efficient buildings, supporting the shift towards carbon-neutral construction. Visit Biozeroc
Actuation Lab: Develops leak-free industrial valves, like the Dragonfly Valve, using corrosion-free composite materials to prevent gas leakage, cut emissions, and improve safety for gases such as hydrogen and ammonia. Visit Actuation Lab
Kairos Carbon: Transforms low-quality, wet, and contaminated organic waste into durable carbon removal products through a self-powered hydrothermal conversion process. This exothermic process requires no external energy, captures CO₂ for long-term geological storage, and also recovers clean water and valuable minerals for reuse. By targeting waste streams such as livestock manure and other organic pollutants, their technology reduces emissions, supports the circular economy, and provides multiple environmental benefits. Visit Kairos Carbon
Discover more successful investments: Zero Carbon Capital.
Zero Carbon Capital's funding sources come from a diverse range of investors, including institutions, corporates, and high-net-worth individuals. Their £20 million (approximately €23.4 million) fund has attracted backing from notable investors such as Isomer Capital, Green Future Investments, Bunge Ventures, and Extantia Climate All-stars. The fund has been set up to support early-stage climate tech ventures across Europe, particularly those developing deep scientific solutions for significant emissions reductions. Zero Carbon Capital also emphasises active involvement in their portfolio companies, providing strategic support and access to a broad network of co-investors and later-stage investors to help these ventures scale successfully. Their approach combines scientific expertise with operational experience to identify and back ambitious founder teams tackling the toughest decarbonisation challenges.
Zero Carbon Capital primarily invests in pre-seed and seed-stage companies developing deep tech and hard science-based climate solutions across Europe. Their first institutional fund closed at £20 million (about €23–24 million), initially focusing on UK companies, while their second fund of a similar size has expanded across Europe, targeting startups mostly at the earlier stages. The fund has attracted a diverse group of investors, including Isomer Capital, Bunge Ventures, Green Future Investments, and Extantia Climate All-stars. Several portfolio companies have successfully raised follow-on rounds, reached scale-up milestones, and secured grants and awards.
Zero Carbon Capital's impact is centered on their investments in deep tech climate solutions with a targeted Emissions Reduction Potential (ERP) of at least 0.5 gigatonnes of CO2 equivalent per year by 2050, which is roughly 1% of global annual emissions in 2025. They apply rigorous, transparent impact assessment methodologies aligned with industry best practices, including contributing to and following guidance from Project Frame, a community that standardises climate impact measurement and reporting.
Zero Carbon Capital offers more than funding to climate tech startups, they build a community of innovators, providing strategic guidance, business development support, workspace, and access to networks of advisors and investors. Their hands-on approach helps startups commercialise scientific breakthroughs and connect with partners for scaling.
The general team at Zero Carbon Capital consists of a group of investors, scientists, and engineers deeply engaged in transformative climate technologies. Key members beyond the co-founders include Chloe Coates, PhD, the Research & Analysis Lead, who is a chemist with a background researching lithium-ion battery degradation; Sarah Jones, a Principal with a PhD in Bioprocess Engineering who has experience supporting the commercialisation of scientific innovation and leading climate programs; and Max Werny, a Venture Associate based in Berlin with a PhD in Catalysis and professional experience in battery recycling and the hydrogen economy. This scientifically strong and technically skilled team enables Zero Carbon Capital to thoroughly evaluate and support frontier hard tech startups focused on decarbonisation.
Learn more about the team here.
1. What goals does Zero Carbon Capital aim to achieve?
Their goals include backing ventures that can reduce CO₂ emissions by at least 0.5 gigatonnes annually by 2050, focusing on transformative solutions that address root causes of climate change beyond incremental improvements, supporting ambitious scientist-entrepreneurs, and driving reductions in hard-to-abate emissions.
2. Which sectors does Zero Carbon Capital invest in?
They focus on high-impact sectors with large potential for carbon emissions reduction: energy, food and agriculture, materials, transportation, carbon removal, heavy industry, construction, and raw materials.
3. What stage of companies does Zero Carbon Capital invest in?
They invest primarily in pre-seed and seed-stage companies across Europe developing early-stage deep tech climate solutions with strong scientific foundations and commercial viability.
4. What is the geographic focus of Zero Carbon Capital’s investments?
Zero Carbon Capital invests exclusively in companies headquartered in Europe, with teams based in London and Berlin to maintain close engagement with the European climate tech ecosystem.
5. What are the key investment criteria for Zero Carbon Capital?
The fund looks for companies with: scientific founding teams committed to climate solutions, breakthrough innovation with competitive advantages, clear evidence-based impact pathways, technologies capable of at least 0.5 Gt CO₂e emissions reduction annually by 2050, and commercial viability.
6. Who founded Zero Carbon Capital and what is their background?
Founded in 2019 by Pippa Gawley (MEng Manufacturing Engineering, Cambridge) and Alex Gawley (MA Astrophysics, Cambridge), with experience in tech, finance, and Silicon Valley angel investing. Their focus is early-stage hard tech climate solutions in Europe
Are you an innovative deep tech founder seeking funding? Discover how Zero Carbon Capital can support your journey by visiting: Zero Carbon Capital Website.
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