Green tech will move offshore without investment

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A lack of investment is pushing green technology companies to the US, a report has claimed.

According to Greenbang’s Clean Tech Start-up Company Index, start-up firms that focus on green technology could move to the US where investment is easier to find. “There is a danger that some very smart technologies could move offshore to places like the US where investors are happier to take a risk,” said Greenbang’s editor Dan Ilett.

“Some of the companies we selected for the index said they had to jump through hoops to get investment in the UK, particularly to grow from small to mid-size. It shows that while there is a lot of noise about around clean tech and green business, innovators in the UK are simply not getting the cash they need,” he added.

The report said that political and regulatory uncertainty was a turnoff for potential investors, as was high capital expenditure.

Despite this, some UK “clean tech” firms have seen success, including real-time energy display creator Onzo, which has already received a cash injection worth £7 million from Scottish and Southern Energy for distribution rights.

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