U.S. Clean Tech Firms Turn to China

U.S. clean tech start-up companies and large energy companies alike are forming partnerships with Chinese firms in order to access lucrative government subsidies and to take advantage of lighter regulation, which makes it easier to bring new technologies to market. That’s according to the Wall Street Journal.

China is the world’s leader in clean energy investment and in 2011 it poured $49.8 billion in renewable-energy development, more than one-third of the total global investment in the sector, according to the United Nations.

Will Latta, an American entrepreneur who partnered with a Chinese firm to develop a new clean technology after being rebuffed in the U.S., was quoted as saying, “In the U.S., there’s a resistance to demonstrate new technology.”

In addition, two years ago, Duke Energy signed an agreement in China to explore clean-energy technology with China Huaneng Group, the country’s largest utility.

To read the full article by The Wall Street Journal cited in this story, click here

Tags: Fundings

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