London, UK – Friday 17th January, 2025 – OakNorth, the digital bank for entrepreneurs, by entrepreneurs, and Sustainable Ventures, the UK’s leading hub for climate tech businesses, today announced a strategic partnership to provide tailored lending and business banking services to scaling sustainable businesses.
OakNorth has a proven track record of supporting pioneering businesses in the sustainability sector, including:
- Verto Homes – the UK’s leading sustainable housebuilder, and creator of the internationally acclaimed Zero Carbon Smart Home®;
- D2Zero – a company dedicated to advancing the energy transition by focusing on four key areas: emissions reduction, clean hydrogen, power efficiency and resilience management, and carbon capture and storage;
- STOREX Self Storage – a provider of premium sustainable self-storage, with all its locations aiming for BREEAM Excellent certification, operational zero carbon readiness, and significant net biodiversity gains;
- Vabel – a visionary developer that sets itself apart through its considerate construction approach, building homes with renewable technologies, such as: LED lights which save up to 90% energy compared to a traditional bulb, aerated taps to reduce water flow and cut water usage, heat recovery ventilation systems to circulate fresh filtered air, solar panels to generate renewable energy, thermally efficient glazing, zonal underfloor heating, and air source heat pumps to control room and water temperatures more efficiently.
Sustainable Ventures, which has supported over 800 climate tech and sustainability-focused businesses since its inception, will offer OakNorth’s Business Banking and Debt financing solutions to its climate tech ecosystem as a means of supporting innovators as they scale.
Ben Barbanel, Head of Debt Finance at OakNorth, commented: “The sustainability challenges we face today require bold action, innovation, and collaboration. By partnering with Sustainable Ventures, we can deepen our commitment to supporting green businesses, as well as working towards our own ambitious net-zero targets. This partnership will empower the next generation of green innovators, offering them access to our flexible, bespoke banking solutions, as well as Sustainable Ventures’ unique ecosystem of over 800 climate tech companies. Together, we hope to drive meaningful change by supporting businesses that align with global sustainability goals.”
Andrew Wordsworth, CEO at Sustainable Ventures, continued: “Here at Sustainable Ventures, we’re on the side of the entrepreneur, and we know that one of the greatest challenges for climate tech businesses is accessing the capital they need to scale. We’re excited by this collaboration with OakNorth as it can unlock new financial solutions for our ever-growing ecosystem, creating new ways for entrepreneurs to overcome financial barriers, scale their impact, and drive meaningful progress in tackling climate change.”
ENDS
Notes to editors
About OakNorth
Launched in September 2015, OakNorth is the digital bank for entrepreneurs, by entrepreneurs, empowering the lower mid-market (businesses with £1m-£100m turnover) to support growth, prosperity, and innovation for the benefit of all.
Since its launch, the bank has:
- Lent over £12bn to these businesses, directly helping with the creation of 47,000 new jobs and 29,000 new homes across the UK;
- Provide deposit services to over c.285,000 savers.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Visit www.oaknorth.co.uk for more information.
About Sustainable Ventures
Sustainable Ventures helps climate startups and entrepreneurs across the UK scale through investment, workspaces and venture support: from beermat to exit. With more than 800 companies in its ecosystem and on a mission to develop 1,000 climate tech businesses by 2025, it is Europe’s leading climate tech hub.
The London HQ is based in the iconic County Hall overlooking the Houses of Parliament and the River Thames. Its Northern hub in Manchester is due to launch in spring 2025, with five hubs planned to launch across the UK in the next five years.
Businesses that have benefited from Sustainable Ventures’ guidance include Beam, the subsea robotics and survey solutions provider, Notpla, the Earthshot-winning sustainable packaging firm, and ENSO, the reduced-pollution tyre-maker.
Sustainable Ventures launched in 2011 with the goal of using commercial innovation to tackle climate change. Experts within the team, many of whom are ex-founders, work with green businesses to help them scale.
Media contacts
Valentina Kristensen, Corporate Affairs Director at OakNorth – [email protected] / [email protected] / 0757 234 9009
Laura Moore, Head of Marketing at Sustainable Ventures – [email protected]