International Women’s Day: Defying Statistics

L to R: Julia Groves and Agnes Czako

In the dynamic world of climate technology, leadership roles are still overwhelmingly occupied by men. By analysing 100 startups in 2023, Business Leader reported that a female-founded business, on average, receives investment of £763,000 compared to £4.7 million for a male-led organisation. This underrepresentation is even more pronounced in climate tech, where only 10% of founders are women.

At the climate tech company AirEx Technologies, two women are leading the charge in tackling these inequalities while driving innovation. Agnes Czako, Founder and CEO, and Julia Groves, Chair of the Board, are defying statistics and working together to scale AirEx to become market leaders in  energy efficiency.

Agnes has spent over a decade working on low carbon innovation to tackle fuel poverty and climate change. She has led 30,000 fuel poverty assessments, holds a Master’s in Interdisciplinary Design for the Built Environment from the University of Cambridge and her work has earned industry recognition, including the Innovate UK "Women in Innovation" award.

Julia brings over 20 years of experience in the renewable energy and responsible finance sector.  A successful entrepreneur herself, with three exits under her belt, she set up the Sustainability team at the British Business Bank, serves on the Nesta Impact Investment Committee and will join Sustainable Ventures in April as Investment Partner. She also volunteers as a mentor for Expect Impact. As a serial entrepreneur and angel investor, Julia’s expertise ensures AirEx continues to grow sustainability, securing investment and strategic partnerships to expand its market reach and ultimately its impact.

Founding AirEx: From Frustration to Innovation

Agnes founded AirEx in 2016 after discovering a major gap in the retrofit market. Growing up in fuel poverty herself she always felt passionate about making a positive impact on people’s lives. Working as an energy consultant in vulnerable communities in London, she was shocked to see fuel poverty persist in a modern city.

This frustration led to a collaboration with academic researcher Dr. Sofie Pelsmakers, who identified significant heat loss occurring in an overlooked area of homes, air bricks. The insight led to the creation of the AirEx Floorvent, an intelligent system that reduces heat loss from underfloor draughts, increasing energy efficiency while maintaining airflow to prevent damp. It is an ideal solution for hard-to-treat social housing properties, where cost and resident hesitancy are major constraints on bringing properties up to EPC Band C or above.

With an initial R&D grant from Innovate UK’s "Energy Game Changer" programme, Agnes built a team of engineers and designers to develop prototypes. The trials proved how impactful the technology could be, leading to its commercialisation.

Julia joined the Board at the end of 2023 and under her guidance, AirEx is strengthening its investment and growth strategy. As of February 2024, over 29,000 smart airbricks have been installed in 4,400 homes across the UK, saving over 27 million tonnes of carbon.

Challenges for Female Leaders in Climate Tech

Despite her success, Agnes has faced significant challenges in launching and scaling AirEx, reflecting the broader difficulties women encounter in leadership roles, particularly in STEM (Science, Technology, Engineering, and Mathematics) industries. Research consistently shows that companies with more women in  leadership achieve better financial and social outcomes, yet systemic barriers remain, making it harder for female-led businesses to access funding and opportunities for growth.

Agnes and Julia’s partnership began in 2017 when they met at the Business Green Awards, where Julia was serving as a judge. Upon learning about the Floorvent and its potential to transform energy efficiency in homes, Julia was immediately drawn to the innovation and the mission behind it. But for her, this wasn’t just about the tech, it was also about backing a smart, resilient woman with a bold vision, in an industry where women are still side-lined.

Julia has championed Agnes ever since, recognising that real change in climate tech requires women to support each other. She has never been afraid to challenge the status quo, using her position to amplify female-led businesses, break open investment doors that are too often shut to women, and demand that the industry take female leadership seriously. But her role at AirEx goes beyond advocacy, she is driving the company’s long-term strategic direction, strengthening investment and commercial partnerships, and ensuring AirEx scales effectively in a highly competitive sector. 

At AirEx, diversity is more than a goal; it's a core part of how the company succeeds. Currently, a third of the workforce are women, outpacing the industry average where women make up less than a quarter of the workforce. Julia and Agnes refuse to accept this as the norm. By fostering an inclusive environment, AirEx is proving that businesses perform just as well, if not better, when women are at the helm, as leaders, decision-makers, and innovators.

Beyond AirEx, Agnes is also working with social housing providers and Tier 1 contractors, collaborating with women whose mission it is to end fuel poverty. Key figures include Nicola McLoed, Managing Director at Warmworks, Gemma Voaden at Together Housing, Alice Monty, Sustainability Director at Equans, and Ruth Dent, Director of Assets and Customer at RE:GEN Group, who are leading efforts to create sustainable, energy-efficient homes for those in need.

However, women in climate tech must do more than survive, they must disrupt. While initiatives like Climate Connection, Climate Mosaic, and Women in Cleantech are working to increase female leadership, the reality is stark: change isn’t happening fast enough. Sustainable Ventures, Europe’s leading climate tech hub, has committed nearly 23% of its investments to female-led start-ups, 12 times higher than the industry average. But why is this still the exception rather than the rule? Until female-led businesses receive the same backing as their male counterparts, the climate tech sector will be missing out on its greatest untapped potential.

Leading by Example

Together, Agnes and Julia prove that strong female leadership drives real impact. Their collaboration is setting a new benchmark in climate technology, demonstrating that diversity at the top leads to better innovation, stronger financial performance, and more effective solutions to global challenges.

As we celebrate International Women’s Day, it’s clear that progress is about actively driving change. Investors, policymakers, and business leaders must step up to ensure female-led businesses receive the same opportunities to scale and succeed. Women in leadership aren’t just an exception; they are the future of climate tech, and the industry must catch up.