A US sustainable investing firm chaired by a former UK MP and backed by the lead singer of Red Hot Chili Peppers is reportedly planning to list on the London junior market.

I(x) Net Zero has said it aims to raise around £20 million from an initial public offering on London’s AIM market later this month.

The Jersey-registered investment company is chaired by Nick Hurd who was Conservative MP for fourteen years before stepping down in December 2019.

Mr Hurd had served as UK Minister for Climate Change and Industry and UK International Development Minister, which included responsibility for climate change and climate finance.

The company works to generate long-term capital growth for its shareholders by creating, funding, partnering with companies that are committed to the areas of energy transition.

Among its investors are Red Hot Chili Peppers lead singer Anthony Kiedis and the Airbnb Co-Founder Joe Gebbia.