Freeport East and Greencrowd Partnership LLP have signed a Memorandum of Understanding (MOU) to foster sustainable innovation and support small and medium enterprises (SMEs) to access capital for growth. This collaboration will leverage the Greencrowd Impact Fund (GIF), a platform initiative to bridge financing gaps for SMEs developing cutting-edge solutions in renewable energy, carbon reduction, and other critical sustainability sectors.
The fund’s anticipated launch, planned for 2025, is contingent on obtaining the necessary regulatory approvals. This document is for informational purposes only and does not constitute an offer or solicitation to invest.
A shared vision for sustainability and economic growth
The MOU establishes a framework for partnership between Freeport East, a leading hub for clean growth, and greenCrowd, an advisory firm committed to driving sustainable impact. Together, they aim to advance the UK’s net-zero goals by unlocking liquidity and providing tailored support for SMEs. This initiative aligns with Freeport East’s ongoing initiatives, such as its 1GW Green Hydrogen Hub, regional decarbonisation efforts and local clean energy cluster development, and greenCrowd’s focus on facilitating investment in impactful technologies.
The collaboration will focus on strategic capacity-building, enhancing market access for SMEs, and fostering a network of innovation partners, including universities, research institutions, and industry leaders. These efforts aim to create measurable environmental, social, and economic benefits within the Freeport East region and beyond.
Empowering UK SMEs through GIF
The proposed Greencrowd Impact Fund is being developed 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 objective to enable SMEs to scale their operations and deploy impactful solutions by providing capital alongside commercial and project support, as well as capacity-building partnerships.
This partnership underscores SMEs’ critical role in addressing climate change and transitioning to a sustainable economy. The MOU highlights objectives such as fostering innovation in decarbonisation, building strategic ecosystems to connect SMEs with critical stakeholders, and promoting clean growth through place-based innovation.
Driving Regional and National Impact
Freeport East’s strategic location and emphasis on clean growth, combined with greenCrowd’s expertise in energy and climate finance, create a robust ecosystem for innovation. The collaboration aims to unlock opportunities for SMEs in the East of England and beyond, addressing historical disparities in investment and embedding commercial and technical support outside traditional financial hubs. Freeport East recently allocated over £1m of capital grants to support high-potential SMEs in their local area and is keen to support the development of models that can leverage greater access to private capital to support SME growth.
Steve Beel, CEO of Freeport East, remarked,
“Freeport East are delighted to collaborate with greenCrowd to bring more support and capital to innovative and impactful SMEs in our region. Numerous studies have demonstrated that, outside of London, capital becomes an increasingly severe constraint on the ability of SMEs to reach their full potential. Unless we resolve this, we will not deliver on net zero and the growth this country needs. By working together, we can create new opportunities for SMEs, support the UK’s net-zero ambitions, and reinforce Freeport East as a leader in sustainable development.”
