Venture Capital Funding News

The recovery of the ship building industry will stoke demand for marine generator sets in the Asia Pacific, with customers preferring to install multiple units of lower output generator sets in their vessels instead of a single heavy-duty generator set. The Southeast Asian and the North Asian markets are showing huge potential as they are continually involved in the export and import of raw materials. However, with competitively-priced Chinese brands flooding the Asia Pacific market, local participants will be hard pressed to make their presence felt or get a toe-hold. The report says that It is vital for foreign companies to establish a local presence to gain trust and support from their partners and clients, obtain contacts and attract venture capital funding.

Wave energy developer Orecon, based in the South West of England, has hit stormy waters. CEO David Crisp said “I thought that after years of struggling for funding we had weathered the worst that the financial markets could throw at us. I was wrong. Earlier this year our venture capital funders withdrew their support, ironically since then we have won through to the final round of the £22m MRPF grant scheme (worth up to £6m), Carbon Trust Ventures have given their support to match fund third party investors and our UK and US patents have been granted.