by Jbs110709 c3 — November 16, 2009—The Carbon Trust, an independent company set up by the British Government, has announced it will inject up to 18 million in additional funding into the U.K. clean energy sector to support clean tech start-ups and Britain’s move to a low-carbon economy. The money has been provided by the Department of Energy and Climate Change.
The funds represent more than a quarter of the U.K.’s entire venture capital clean energy investment last year and will be used to support technologies including renewable energy sources such as fuel cells, photovoltaics, marine and wind power, as well as new forms of energy efficiency and demand management such as smart grid technology. In offshore wind and wave technologies, Carbon Trust analysis has found that the U.K. could generate up to 70 billion for the economy and almost 250,000 jobs by 2050.
Investment will focus on companies that offer prospects of a strong commercial return and, in particular, on those technologies where the U.K. has natural strength and potential to become a global leader, says Carbon Trust.
