US billionaire George Soros has announced he will invest $US1 billion in clean technology projects as well as create a $US10 million a year, 10-year fund.

Soros told journalists in Copenhagen on Saturday that he was looking for profitable opportunities, but also projects that made a real difference to climate change.

He said while the science was clear, climate change remained a political problem.

Christchurch-based venture capital company, Milestone Capital, is negotiating a joint facility for clean technology innovation in China.

Milestone principal and co-founder of institutional investment management firm, Infiniti Capital, Kenji Steven told NBR the Chengdu government was keen to work with New Zealand to bring clean technology to China, although he was sketchy on the details.

The inaugural investment forum held at Taupo’s Clean Energy Centre last week was a success, even though it’s too early to say if any funding will flow from the event, Centre chief executive Rob McEwan says.

Mr McEwan says while sourcing venture capital funding of any more than $1.5 million for the sector is very difficult at the moment, most of the crop of “clean technology” innovators at the forum were seeking under $1 million.