INFORM Finance
FUNDING
Central government will invest £5M in a Cornish business park that will specialise in develop- ing marine energy.
The marine energy business
park in Hayle is expected to cost a total of £12.8M. The project will create 190 jobs in an area of high unem- ployment and bring benefits to the community through flood protection work, restoration of harbour walls and a new bridge. It will complement the South
West RDA’s £42M Wave Hub project, which is creating the world’s largest test site for marine energy devices ten miles off the north Cornish coast.
TRANSPORT
Irish motorists who opt for an electric car could receive a grant of €5,000 and will pay no road tax, the Government has announced.
The grants and exemption
from Vehicle Registration Tax will come into play in 2011 and are part of the Government’s strategy to meet its target of 10% of the vehicles on Irish roads being electric by 2020. Energy Minister Eamon Ryan
said: “We have made great strides in renewable energy, energy efficiency and now we begin the electrification of our transport fleet.”
INITIATIVE
A consortium led by Onzo has begun a £2.3M project to use smart metering technology to develop future applications and services, using telehealth as an example application. With governments globally setting targets for the roll-out of smart meters, this project will look at the potential appli- cations for the new communi- cation infrastructure to be cre- ated by the smart grid. In the healthcare sector, the technology should reduce the need for patients to visit their clinician or hospital for check- ups through a secure wireless method of sending informa- tion, such as a person’s weight and blood pressure, to their healthcare professional.
MARKETS
Time to sustain the recovery
The UK’s environmental consul- tancy market is bouyant, with 216 of the top 635 firms growing at more than 10% a year. However, as consultancies break new ground and lead a sus- tainable recovery, industry ana- lyst Plimsoll fears there are 65 companies whose sales growth masks something more sinister. “It makes a nice change to have positive news to report – 216 increasingly profitable com- panies have either tapped into new, fast growing revenue streams or are the best perform- ers in the old ones,” said senior analyst David Pattison. “Anyone struggling to make the most of the recovery should ask them- selves ‘what do these guys sell, make or do differently to me?’” But Pattison warns that 65 companies have achieved sales growth without rising profitabili- ty. “Essentially, there are two types of growth in the market – good and bad. Sixty-five compa- nies have achieved over the 10% sales growth but in doing so have seen their profit margin collapse. The accolades of growth are good but the bills need paying. “More worrying, seven of these companies have been loss-
PERFORMANCE
Good year for Good Energy
Good Energy, the UK’s only dedicated 100% renewable elec- tricity supplier, increased its profits by 30% last year. In its tenth year of operation, the company posted profits of £662,607 for 2009 on a turnover of £18.2M, which was up from £17.6M in 2008.
Despite tough market condi- tions, the company expanded its electricity customer base. It now supplies more than 26,000 cus- tomers – 887 of which are new since 2008.
Its gas business is also doing well, with client numbers dou-
bling last year with the launch of its renewable heat product The company’s new £12M wind farm at Delabole is now being constructed. Ten existing turbines will be replaced with four modern, more powerful, turbines, which will increase the farm’s output by up to two and a half times.
Good Energy’s CEO, Juliet Davenport, said: “All in all, it’s been a busy year.
“The company has matured significantly, investing in both systems and staff to ensure that our customers not only get
Good Energy’s 100% renewable electricity but great customer service from people who really understand renewable energy. “We have also seen some significant government announcements on Green Accreditation, Feed-in Tariffs and Renewable Heat Incentives, all of which are potentially bene- ficial for our business.” The company has received a number of accolades this year, including a ranking on the Sunday Times Green Company 2009 and also picked up West of England Business of the Year.
BRIEFS ONTARIO, CANADA, IS INVESTING AROUND £5.9B IN 694 GREEN ENERGY CONTRACTS FOR THE PROVINCE
12 May 2010 ❘ Sustainab le Business
Environmental consultancies show positive growth, but there are problems
making for two years – even with double-digit sales growth I doubt they will make it to a third.” Pattison adds that while the 216 top performers lead the way, 104 companies face a “bleak future”. “Losing sales, profits and probably most of their options, these companies have been rated as a danger in our report. Only a takeover or a rapid turnaround is likely to redeem their situation.” The new Plimsoll Industry
Analysis – Environmental
Consultants shows which compa- nies are prospering in the post- recession marketplace, those that are taking a big gamble and those heading for trouble.
It gives an instant performance rating on the top 635 companies in the market and an overview of companies that are ripe for acquisition and who is buying. Each company is assessed using the Plimsoll Model, a graphical and written analysis giving facts and analyst opinion.
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