A clean transport revolution
Transport is one of the biggest greenhouse gas emitters in the UK. According to UK government research, in 2021 transport was responsible for 26% of greenhouse gas emissions in the UK, almost all through carbon dioxide emissions.
Cutting emissions in the sector is vital to meeting UK targets for tackling climate change and could also bring benefits for health and wellbeing, as well as opportunities for economic growth.
But how are we going to get there? Despite a blip during the Covid-19 pandemic, the number of vehicles on our roads continues to rise, while new fuel technologies that could make air travel more sustainable are still in the early stages of development.
“Transport needs to clean up and become a very different thing to what it is today,’ says Richard Hill, head of automotive and manufacturing at NatWest Group. ‘The sector is going through a revolution. It’s going to form a key part of the transition support journey and the UK has a big opportunity to be a leader in clean transport.”
The sector is going through a revolution
Richard is part of the team leading NatWest’s Clean Transport Accelerator, a partnership with Warwick Manufacturing Group (WMG), an internationally renowned department at the University of Warwick focused on innovation in science, technology and engineering.
Launched in 2022, the Clean Transport Accelerator supports businesses in the mobility industry to develop products and services that will play a part in achieving the UK’s net zero ambitions. It’s aimed at businesses creating the next generation of transport and offers support to fast-track their innovations, as well as access to experts in clean transport and equipment.
A growing network
The NatWest Clean Transport Accelerator is the latest addition to the growing network of NatWest Accelerators in the UK, supporting thousands of entrepreneurs each year. Spread across 13 locations and a digital hub, the NatWest Accelerators work with business owners to help them build knowledge and skills in a range of areas, including how to enter new markets, develop a scalable infrastructure and attract growth funding.
“We’re focused on delivering applied learning through the programme – things owners can take back and use in their business,’ explains Pam Sheemar, regional enterprise director at NatWest Group. “The Clean Transport Accelerator is best placed to help young businesses grow. We’re working with businesses that already have traction, where they might have already raised funding or have a team of people working with them. We’re there to help the business develop – and we aim to build great people and great leaders.”
We’re bringing people together to build a network of entrepreneurs
Businesses that have joined the Clean Transport Accelerator so far represent a wide range of transport activities and related industries, including aircraft batteries, fuel efficient engines, e-scooters, cargo bikes and electric in-line skates.
Adam Walters, an enterprise acceleration manager based at the Clean Transport Accelerator works directly with the participants as part of the programme. “We’re getting people from a range of backgrounds – from a company that makes kids’ bikes, to a student startup focused on drone technology, as well as businesses developing new technologies that support mass transport, like trains and aircraft,’ Adam says. “They’re all important to supporting the transition to net zero.”
As part of the programme, businesses get one-to-one coaching, access to mentors and co-working spaces and can join thought leadership and specialist events, like NatWest workshops and group acceleration sessions with other members of their cohort.
Creating a community is a big part of the programme. ‘We’re bringing people together to build a network of entrepreneurs,’ says Pam. “Participants get support from their peers and can share ideas and experiences. These are people who have been there, done it and can understand the highs and the lows of starting and scaling a business.”
Speeding up change
Businesses can also use the technical and industry expertise of the WMG, including help with building prototypes, creating manufacturing processes, adopting new technologies and sourcing materials.
The Clean Transport Accelerator reflects the strength of the relationship between NatWest Group and the WMG and showcases how working with partners to support businesses could speed up change across sectors.
“The drive to net zero has opened up new and exciting opportunities for innovation in the transport sector,’ explains Professor David Greenwood, director of Industrial Engagement and CEO of the High Value Manufacturing Centre at WMG. ‘Together with NatWest, we’d like to ensure that the UK delivers economic benefits as well as environmental benefits as we meet this critical objective.
Richard agrees. “We have an opportunity to establish a homegrown clean transport industry,’ he says. ‘The risk of not taking this opportunity could mean that the UK misses out.”