Over three-quarters of UK cleantech companies are looking to recruit in the next 12 months and over a third are planning to expand their business into new markets.
Research conducted by the Carbon Trust has shown that clean technologies, businesses offering solutions to global challenges such as climate change, are defying the wider economic uncertainty.
The UK’s cleantech companies have become more confident about their prospects due to factors such as recent government legislation, their growth prospects and technical strength.
However, 29% of the companies interviewed said a lack of finance was the main obstacle to expansion.
Benj Sykes, director of innovations at the Carbon Trust, said: “A thriving UK cleantech sector is essential for green growth in the UK. The sector offers significant growth opportunity and investors should now seize the opportunity to be part of this new industry.”
Government support in the UK was said to be as a major strength due to legislation seen in the form of FiTs, carbon targets and sustainable building regulations.
Financing was seen as a weakness as the investment climate is currently too risk averse and focused on short-term returns.