Member Article

Expansion at Newcastle's Drive Green Taxi Services

Newcastle’s very first Eco friendly Taxi Service has received a further substantial cash injection from the Finance For Business North East Angel Fund.

Since launching at the beginning of this year, the Newcastle-based company has seen increased demand from North East corporate and private clients who have chosen a greener alternative.

David Hazeldine, founding director, said: “Our service offering has been extremely well received and that’s very encouraging for the future.

We’re finding that companies large and small are becoming more environmentally conscious, with larger organisations adopting a very proactive stance, in many cases initiating their own environmental initiatives. The investment from the North East Angel Fund will allow us expand the fleet further and help more corporate clients with their sustainability programmes and executive private taxi hire needs.

Rivers Capital Partners who manage the North East Angel Fund saw potential in David and his business from the start, when they were introduced at a regional business plan competition.

The company initially received investment as part of FirstDeal, an investment and business incubation package of £10,000 from the Finance for Business North East Angel Fund for students and early stage entrepreneurs.

Michael Dickens, investment executive at Rivers Capital, said: “David is an excellent example of when hard work and determination can turn your idea from an initial concept into a successful business.

“Drive Green who won their FirstDeal in December 2011 has already secured further investment form the North East Angel Fund. This is a great advert for local students and entrepreneurs who are thinking about starting their own business and need to access finance.”

Drive Green Taxi Services can been found www.drivegreentaxis.co.uk

This was posted in Bdaily's Members' News section by Scott Galloway .