Funding news - 20/02/2012
Carbon Trust and GE Launch Low Carbon Infrastructure Fund
The Carbon Trust has teamed up with GE to launch a $5 million business incubation fund targeted at companies developing low carbon infrastructure technologies.
The funding forms part of GE's $200 million EcoImagination Challenge, a programme launched in 2010 to find and fund the best cleantech concepts around the world.
Designed to accelerate European cleantech business growth, the 18-month project will see the two companies provide investment for promising early stage European cleantech companies and offer management advice and capital to those with most potential.
Carbon Trust Chief Executive Tom Delay said:
"Cleantech has the capacity to be a strong growth driver for Europe given its strong research capability and track record in this area. However, there is increasing evidence that other parts of the world are catching up and overtaking the region. This exciting initiative will accelerate the commercialisation of Europe's more promising cleantech businesses. This announcement marks a major development for the Carbon Trust and will help Europe achieve its potential. The region has historically led innovation in this area but we increasingly need to ensure clean technology businesses are commercialised fast and effectively so Europe can keep ahead."
Click here to visit the Carbon Trust website.
Source: Carbon Trust, 20/02/2012