EV motor emigrates to USA for capital

For the cost of a Sydney home, Paul Evans would be able to market an electric car engine that could help put Aussie innovation back on the map. In risk-averse Australia, most investors would prefer to buy a house. The entrepreneur has been shunned by local venture capital funds in attempts to raise A$3 million ($2.2 million) for a product that’s been a decade in the works, despite what he describes as strong interest from some global carmakers. Now, after a series of fruitless investor meetings, he’s heading down the inevitable path: straight to the U.S.

more> Bloomberg (previous write up RenewEconomy)

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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