Freeport East partners with greenCrowd to help SMEs reach net zero

Freeport East and greenCrowd Partnership LLP have joined forces to support small and medium enterprises (SMEs) in sustainable innovation. The collaboration aims to help SMEs access capital for growth, focusing on renewable energy, carbon reduction, and other sustainability sectors. The partnership will utilise the greenCrowd Impact Fund (GIF), a platform initiative designed to bridge financing gaps for SMEs.

The fund is expected to launch in 2025, subject to regulatory approvals. The memorandum of understanding between Freeport East and greenCrowd establishes a framework for partnership to advance the UK's net-zero goals. ADVERTISEMENT

The initiative aligns with Freeport East's ongoing projects, such as its 1GW Green Hydrogen Hub and regional decarbonisation efforts. The partnership will prioritise strategic capacity-building, improving market access for SMEs, and cultivating a network of innovation partners such as universities, research institutions, and industry leaders. Steve Beel, CEO of Freeport East, said: "Freeport East are delighted to collaborate with greenCrowd to bring more support and capital to innovative and impactful SMEs in our region."

Rick Gambetta, partner at greenCrowd, added: "The greenCrowd Impact Fund is being developed to address critical gaps in UK SME financing, particularly in sustainability-focused sectors. "Our collaboration with Freeport East will explore pathways to help innovative businesses access the resources and support needed to scale their solutions and contribute to a greener future." ADVERTISEMENT

The proposed greenCrowd Impact Fund aims to address the unique challenges faced by UK SMEs, particularly those in renewable energy, energy efficiency, sustainable agriculture, circular economy practices, carbon reduction, and water management.

The partnership highlights the important role of SMEs in tackling climate change and building a sustainable economy.

Freeport East and greenCrowd aim to create a lasting environmental and economic impact by supporting regional and national sustainability goals.