AXA XL supports UK's first development-stage accelerator for climate tech businesses

London - January 21, 2025

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 accelerator's 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 dynamic, physical, collaborative space for the growth of early-stage climate tech ventures, providing the facilities and tools for the development of their product offerings.

Sean McGovern, CEO of UK & Lloyd's, 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 (MOU) with some of the UK's leading universities, giving London GreenCity members access to state-of-the-art machinery to support the development of climate-tech innovation.

Follow AXA XL on LinkedIn.

ABOUT AXA XL
AXA XL, the property & casualty and specialty risk division of AXA, provides insurance and risk management products and services for mid-sized companies through to large multinationals, and reinsurance solutions to insurance companies globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com

ABOUT AXA XL INSURANCE
AXA XL Insurance offers property, casualty, professional, financial lines, and specialty insurance solutions to mid-sized companies through to large multinationals globally. We partner with those who move the world forward. To learn more, visit www.axaxl.com

ABOUT LONDON GREENCITY
London GreenCity is an accelerator of post-startup clean technology entrepreneurs focused on a broad range of climate technologies addressing the causes and impact of climate change. To learn more, visit https://londongreencity.co.uk/