SMS named as one of UK’s nine climate tech “unicorns”

A new report by Tech Nation – the national champion of the UK’s climate tech sector – has named SMS amongst the country’s current nine climate tech “unicorns”.

A unicorn is a term commonly used in the corporate world to describe start-ups with a valuation of over $1 billion (c.£840 million). Climate tech refers to technologies developed or deployed by companies with the purpose of mitigating carbon emissions and combatting climate change.

Alongside SMS, the other eight unicorns named in the Climate Tech Report 2022 are Octopus Energy, Britishvolt, Newcleo, Depop, ITM Power, Ceres, OVO Energy, and Vertical Aerospace. Together these companies make up just under 7% of the UK’s total number of tech unicorns. The UK has a further 19 future climate tech start-ups currently valued between $250mn – $800mn, showing a healthy pipeline of climate pioneers in the UK.

As a fully integrated energy infrastructure and solutions company operating in the UK market, SMS funds, installs, manages, and intelligently operates carbon reduction (CaRe) assets – including smart meters, battery energy storage systems (BESS), and EV chargepoints – that together enable a smarter, greener, and more affordable energy system.

Carbon Reduction Assets

Established in 1995 and listed on the London Stock Exchange Alternative Investment Market (AIM) in 2011, as well as the installation and management of CaRe assets, SMS additionally provides strategic energy and carbon reduction services to large private and public sector organisations. The company’s own FlexiGrid software also aggregates climate tech and distributed energy resources (DER) in order to intelligently manage demand and deliver balancing and flexibility services to the grid.

Through deployment of technologies and its range of energy solutions delivered for customers, SMS mitigated 126,759 tonnes of carbon emissions (tCO2e) from the atmosphere during 2021 alone, resulting in a carbon handprint that was more than 55 times larger than its carbon footprint (equivalent to powering more than 220,000 British homes with clean electricity for an entire year).

Owing to SMS’s climate contribution, last year – for the third year in a row – the company was awarded by the London Stock Exchange with its coveted Green Economy Mark, an award recognising London-listed companies that derive more than 50% of their revenues from products and services that contribute to climate change mitigation.

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