Carbon Trust signs China deal

By Carola Hoyos
Published: May 4 2009 03:00

The Carbon Trust will sign a key partnership deal today in an attempt to open China's vast market to British carbon technology.
The UK government, which is promoting green technology as a way to create jobs and help mitigate the effects of recession, will provide about a quarter of the initial £10m investment.
Tom Delay, the chief executive of the Carbon Trust, an independent company set up by the government, expects to be able to tap at least £100m from private investors over the next five years. He says the venture, though not the trust's biggest in terms of capital, will be its most strategically important.
China, which relies heavily on its indigenous coal, produces more carbon dioxide than any other country. Mr Delay said he hoped the partnership deal would act as a "bridge" for early-stage technologies. Carola Hoyos
Copyright The Financial Times Limited 2009