Waste sector offered investment help

Unveiled at the House of Lords last week by Defra minister Ian Pearson, the service aims to drive industry growth in the environmental sector.

” There is a real need amongst young environmental technology firms to have more interaction with the financial sector. “
– Ian Pearson
EIC, which describes itself as the “voice of the UK environmental technology and services industry” is working with corporate advice group AngelBourse to create a network of investors interested in providing finance to British companies.

Angelbourse will assist companies who are looking to raise in the region of 100,000 to 2 million with negotiations and transactions, helping them to hire the appropriate brokers, accountants and other professionals.

The city group has identified the environmental industry as a key growth area predicting that it could be worth over 300 billion by 2010.

Potential
The group has singled out the waste sector as having particular potential, and plans to hold a seminar on raising finance in the sector later this year.

Ian Pearson, the minister for climate change and environment, said that the scheme would reach out to cash-strapped technology firms. He remarked: “There is a real need amongst young environmental technology firms to have more interaction with the financial sector – to understand their investment criteria and the terms on which they are prepared to invest.”

He added: “I hope this initiative will help improve the quality of deal flow in this sector and at the same time raise the profile of this growing industry.”

Opportunities
Guy Saxton, chief executive of AngelBourse, explained that the service works by helping investors to find solid investment opportunities.

He said: “We provide investors access to ambitious, early-stage companies with high-growth potential and help those companies focus on those milestones which are crucial to investors.

“This is a unique service for the UK's environmental industry, nothing else like this exists,” Mr Saxton added.

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EIC

Adrian Wilkes, executive chairman of EIC, said that the approach would help smaller companies. He commented: “This is a vital new service for the UK's environmental industry, which is dominated by SMEs who often have problems raising finance.

“It will help them seize the huge new business opportunities in the fast-growing worldwide environmental markets and so boost the UK's international competitiveness.”