IP Group hosted a capital markets day on 26 June 2025, which included presentations on the group’s investment strategy, pipeline, major themes and portfolio companies.

The built environment (over the full construction cycle) is a significant contributor to global greenhouse gas (GHG) emissions, accounting for approximately 37% of global energy-related CO2 emissions. The challenge of decarbonising the built environment is less visible than that of transportation and electric vehicles, but companies focused on building materials, construction and infrastructure will need to adapt to regulatory pressures and find solutions to meet climate goals. In the UK, buildings are responsible for around 25% of national emissions, and 80% of the buildings that will exist in 2050 are already constructed. Decarbonising the built environment is therefore critical to achieving net-zero targets and will affect firms across the value chain. In this note we focus on the strategies of European companies primarily involved in building materials.

There is little doubt that Metlen’s inaugural capital markets day (CMD) at the London Stock Exchange marked a new strategic chapter for the company. Led by executive chairman and CEO, Evangelos Mytilineos, management delivered a clear message: Metlen is now a focused energy and metals business targeting €2bn in EBITDA in the medium term.

Hybrid Air Vehicles (HAV), a UK-based company, is pioneering sustainable aircraft technologies (see our equity proposition). To date, HAV has raised and invested c £140m in developing its landmark aircraft, Airlander 10, which combines lighter-than-air technology (helium) and an innovative wing design, overcoming traditional airship limitations. The Airlander 10 can deliver 100+ seat regional passenger transport, a 10-tonne payload of freight transportation, or a combination of the two. HAV’s Airlander technology is scalable and its next product, Airlander 50, can transport 50+ tonnes, despite being only slightly longer (120m) than Airlander 10 (98m). HAV has a total order book of c $2bn (29 aircraft) as well as a qualified pipeline of c $7bn, with a 50/50 split between civil and military uses. The company aims to raise an additional c £600m to build its production site (land is secured in South Yorkshire) and achieve its production target of 24 aircraft annually, with first customer deliveries scheduled for 2029.

Cities currently generate more than 80% of global GDP while occupying merely 2% of land mass. By 2050, urban centres will accommodate an additional 2.5 billion inhabitants, driving unprecedented infrastructure requirements, technological advances and environmental challenges.

Else Nutrition has developed and patented the world’s first, whole plant infant formula free of dairy and soy. The company currently offers a clean-label alternative for toddlers over the age of 12 months whose families are either flexitarian, looking for a plant-based alternative, want a more sustainable option or are intolerant to traditional formulas.