A YOUNG entrepreneur who made millions providing finance for low-carbon businesses believes the support of major international companies for green technology is helping drive its growth.

The comments by Sean O’Connor, 29, who founded Clean Energy Capital (CEC) in Sunderland, come as the North-East establishes itself as a leading hub for sectors such as electric vehicles, wind turbine technology and solar power.

Mr O’Connor, who this week came sixth in a Sunday Times list of the 100 richest people under 30 in the UK, with an estimated fortune of £33m, is expecting to create more jobs in the North-East in the future.

And he believed that companies such as Nissan producing electric cars in Sunderland, and US firm Clipper’s wind turbine factory in Newcastle, helped enhance the credibility of a sector in which he expected the North- East to be a leading light.

Mr O’Connor said: “I think the North-East is going to be a pioneer of this sector.

“The region is very forward- thinking towards this, and because it is a new sector, it is the ones who get in early who profit the most.

“It is good for the region and job creation.

“The North-East has embraced this market to create jobs and opportunities.

Those who are not forwardthinking might get left behind.”

After 12 months research, Northumbria University graduate Mr O’Connor identified the green market as the next big trend and launched his business, providing finance for low-carbon businesses and technology, in 2007.

He admitted that it was only in recent years that opportunities in low-carbon industries started to be taken seriously.

He said: “I think there was a perception of it being uncommercial for a long time and it wasn’t taken seriously.

Now it is different, almost a reverse attitude.

“People view green technology as being a very profitable area and I think legislation has very much driven that in the UK and elsewhere, people have to take it seriously.”

Mr O’Connor is now looking to create more jobs at the firm’s three offices – the others are in Leeds and London.

He said: “We do see staff numbers increasing substantially.

“I can’t put a figure on it at present, but we are looking to grow our numbers.”