AXA XL is partnering with London GreenCity, the UK’s first accelerator for development-stage climate tech entrepreneurs, to offer expertise in insurance and risk management to the its members.

London GreenCity supports the development of new technologies that address the causes and impact of climate change, encouraging innovation in renewable power generation, battery storage, transport, agriculture, the built environment, and the financing of the transition to a low-carbon economy. Its London-based campus offers a collaborative space for the growth of early-stage climate tech ventures, providing facilities and tools for the development of their product offerings.

Sean McGovern, CEO of AXA XL’s UK & Lloyd’s business, said: “Insurance is an enabler of the energy transition, and we are delighted through our partnership with London GreenCity to be able to provide our risk management expertise and to support the unlocking of finance to power the growth of these exciting early-stage climate tech businesses.”

Laith Anezi, co-founder and general partner of London GreenCity, added: “AXA XL’s belief in our mission to be the largest, development-stage climate tech accelerator in the UK is not just a testament to its leadership in sustainability, it’s a powerful step towards driving the global clean energy transition. Together, we can make a difference that will resonate for generations to come.”

London GreenCity has a memorandum of understanding with some of the UK’s key universities, giving London GreenCity members access to state-of-the-art machinery to support the development of climate-tech innovation.

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