Cleantech Venture Day pitcher secures £2.5m in funding
Hubl Logistics, an October 2023 Cleantech Venture Day pitcher has raised £2.5 million to accelerate deployment of zero-emission temperature-controlled solutions for food distribution.
Hubl Logistics, a leader in sustainable temperature control solutions, has secured £2.527 million in funding to accelerate the development and deployment of its innovative and cost-effective technologies.
The Freight Innovation Fund (FiF) awarded funding of £225k in February 2024 to support further development and trials in the UK, which followed an award of £1.3 million from the Innovate UK Energy Catalyst Fund in September 2023, and initial funding from The Clean Air Fund which established Hubl as a recognised leader in sustainable transportation technology.
Hugh Frost, Founder of Hubl Logistics, said: “The grant funding and support we have received from government agencies such as FIF have proved to be a catalyst for sustainability and innovation focused equity investors to come on board, providing a further £1m to support our growth plans.”
These equity investors include Green Angel Ventures, Impact on Urban Health, Caygan Capital, and Carbon 13 Ventures.
Hubl, with its CoolRun solution, was selected to pitch at Cleantech Venture Day last October alongside 5 other mobility-focused companies. Nishal Thampan, Operations and Sustainability Analyst for Hubl, said: "The Cleantech Venture Day last year was definitely a pivotal step in getting us to where we are now. I appreciate your support throughout this period and look forward to continuing our collaboration as we move forward."
Established to develop technologies aimed at reducing the environmental impact of refrigerated goods transport, Hubl Logistics flagship innovation, the CoolRun Pod, is currently undergoing trials in the UK with various partners in the chilled and frozen food supply chain. Equipped with smart technology for remote temperature monitoring, CoolRun Pods feature a thermal battery and novel airflow system to achieve consistent temperature control. These mobile units significantly reduce emissions relative to traditional refrigerated transport vehicles while seamlessly integrating into existing supply chains.
Hugh said: "CoolRun will truly revolutionise the food distribution industry, not only by eliminating harmful emissions from diesel-driven refrigeration units but also by improving efficiency and thereby reducing costs”.
Alongside developments in the UK, Hubl has been funded by Innovate UK to collaborate in a pilot scheme to introduce a 100% emissions free refrigeration and distribution system to combat heat-induced food wastage which currently impacts about 45% of all fresh produce in Africa. As well as helping to combat this wastage Coolrun will unlock broader market and growth opportunities for farmers in East Africa.
The total fundraise of £2.5 million will empower Hubl Logistics to expand its operations, accelerate product development, and scale its clean refrigeration technologies globally, reinforcing its position as a frontrunner in sustainable transportation solutions.
Since 2006, Cleantech Venture Day has been providing a curated programme of cutting edge technology, investment opportunities and thought leadership from across the global cleantech and climate tech ecosystem.
For more information about Hubl Logistics and its innovative solutions, visit www.hubl.co.uk
Media Contact: Douglas West, CMO, doug@hubl.co.uk, 07460 481556