Renewable energy: UK making global waves In the US, it planned to showcase its achievements. Dr Roy said that in 2004 the US Department of Energy set the domestic industry the challenge of generating hydrogen at $300 per kW compared with the unit cost of $10,000 at the time. RE Hydrogen can do it for $150. We have beaten their targets. No American company has done it," he says. Naked Energy's five-man team are looking to fund production for three pilots of its solar cell thermal transfer technology outside the UK - one reasons why they went to California. Managing director Christophe Williams, who founded Naked Energy with engineers Richard Boyle and Norman Cottingham in 2009, and have tackled the somewhat counter intuitive fact that solar PV cells become less efficient the hotter they become. We have developed and patented a highly effective thermal transfer system. It moves heat incredibly well," says Mr Williams. A review of the technology by Imperial College London suggests it is 90pc efficient in transferring heat away from PV cells, which in Naked's design sit within a vacuum in a tube. Mr Williams said: "We are going to the Mecca of solar. We are looking for potential partners and distributors. It is such a huge market there and what we are looking to do is learn about how the market operates there and to talk to investors to see what they are looking for. We have filed our patents in American as well so speed is the number one game for us now. We have shown our tricks. All three companies report varying levels of support in the UK. Dr Roy at RE Hydrogen said the company had secured support from several agencies, including the TSB. The main reason to go to America is to build partnerships and tell our story. America is the largest hydrogen market in the world. And Silicon Valley is famous for investing in clean tech. Attracting US cash, does not mean RE Hydrogen is considering relocating. "I am not leaving the UK," says Dr Roy. The TSB has been a like a guardian for small companies like us. I feel very comfortable here. Verderg has also had about £200,000 of its £1m development costs secured from UK and European grants. Mr Roberts said the weakness in the UK was the availability of risk capital to take prototypes into production, which is one reason why he travelled to the West Coast. It is purely that we have talked to over 150 potential funding sources in the UK but the financial environment is unattractive at the moment. West Coast investors have a reputation for having more flexibility in their pay back horizon. This is potentially hugely profitable but it has a three to four year pay back period because of the time it takes to get the environmental approvals and in a build, own operate model. It is potentially unattractive to a classic VC. Aside from the trade mission and renewable energy subsidies, Naked Energy has not received any direct government support. Mr Williams said: "We really want to manufacture here in the UK. It would be zero carbon and have massive export potential. But we need UK plc to get behind us. He added: "Look at the level of support in China. They are pumping billions into their industry. There's lots of talk about being the technology centre of Europe. Let's hope it happens.