Former UK Energy Secretary Chris Skidmore has launched Desmos Capital Partners, a new private investment bank focused on supporting clean energy startups. The “boutique” bank aims to raise private capital to finance companies focused on developing future clean technologies and achieving net-zero emissions.

Skidmore, known for writing the government’s Net Zero Review, highlighted the bank’s mission to “transform the world” by providing scale-up companies with access to vital financial resources. The initiative is poised to play a critical role in the green tech sector, promoting sustainable innovation and economic growth.

Skidmore stated: “Our goal is to close the financing gap for emerging cleantech companies and drive the transition to a sustainable future.“Desmos Capital Partners is positioned to meet the urgent need for investments in green technology, in line with global efforts to combat climate change and promote environmental resilience.

Skidmore stressed the urgent need for such financial support, adding: “The transition to a low-carbon economy is not only an environmental necessity, but also a major economic opportunity.He noted that the bank aims to attract investment from both private and institutional investors committed to the transition to net zero.

Desmos Capital Partners will focus on companies developing innovative technologies in renewable energy, energy storage and carbon capture. Skidmore believes these areas are critical for the UK and global community to meet climate goals and ensure a sustainable future.

“The clean tech sector is ripe for innovation and investment,“, Skidmore noted.By providing the necessary financial support, we can help these companies scale their operations and bring their breakthrough technologies to market.“

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The launch of Desmos Capital Partners comes at a critical time as governments and industries worldwide step up their efforts to combat climate change. Skidmore’s initiative reflects a broader trend of increasing private sector involvement in financing the transition to a green economy.

In conclusion, Desmos Capital Partners intends to become a major player in the green technology financing landscape, driving the development and implementation of sustainable technologies. With Skidmore’s leadership and vision, the bank aims to have a substantial impact on the journey to a net-zero future.