Whatever happens to the Oxfordshire economy during the next few years — and predictions on that depend largely on whether or not you believe the Government’s pledge to ring-fence public spending on education (on which the county is more dependent than most) — one thing is certain: private enterprise in the field of green technology is flourishing.

Innovators and investors flocked to the Kassam Stadium this week to see for themselves how technology will affect all our futures.

The 11th Venturefest, an annual showcase for Oxfordshire inventors, registered about 1,300 people — up from about 950 last year.

This year 15 companies exhibited at the show. Over the years 196 have done so, attracting more than 5,500 visitors.

And Jamie Bennett, spokesman for Happening, the company that organised the event, said: “We cut the Venturefest from two days to one this year. Many people thought that was because there was less demand — but we have certainly proved those people wrong.”

And green technology was to a large extent the driving force behind the show’s success.

Star turn at the Kassam Stadium this year was the new hydrogen fuel-cell powered Morgan LIFEcar, developed by the Morgan car company together with Oxford University.

The chairman of Venturefest, Dave Waller, manager of economy, spatial planning and climate change at Oxfordshire County Council, said: “Oxfordshire is at the heart of green technology. Last week we heard of the electric Mini, this week it is the hydrogen Morgan.”

He added: “The Climate Change Institute is here in Oxford and the county has more communities, such as resident associations, that have committed themselves to energy saving, than any other in Britain. They are called transition communities.”

Dr Malcolm McCulloch, of the University’s Department of Engineering Science, said: “This is a car built to prove that a zero-emission vehicle can also be fun to drive.”

The prototype car, with an ultra-light aluminium body and ash wood frame, is driven by hydrogen-powered fuel cells that power its batteries.

It has a 200 mile range, takes five minutes to refuel, and does 0-60 mph in six seconds.

Dr McCulloch said: “Oxfordshire is at the heart of the green technologies space.

“I think this has something to do with the numbers of F1 entrepreneurs turning to the sector, as well, of course, as the two universities here.”

He added that he had become involved in developing the Morgan LIFEcar through “serendipity”, though some might say that he was simply in the right place at the right time — and that place was Oxfordshire.

He said: “ I live in Binsey and it just so happened that a neighbour, Stephen Cobb, introduced me to Hugo Spowers, who was working on the LIFEcar project with the company River Simple.”

Mr Cobb was a founder of the Environment and Development Group (EDG) in 1990. It started as a part of Oxford University but is now a private-sector company.

In the car, hydrogen is converted to electricity in a fuel cell made by defence company QinetiQ to power four electric motors, each driving a wheel. Energy is also captured from the car when braking.

Dr McCulloch said the car weighed not much more than half the weight of a Mini.

He added: “In the future, hydrogen might be produced from solar energy, but even using what I call ‘dirty hydrogen’, made from natural gas, the car produces 49gm of carbon per km (made up of the hydrogen production process).” This is less than half the carbon emitted by the Toyota Prius, said Dr McCulloch.

Venturefest came in the same week as the Oxford-based UK Climate Change Institute — part of Oxford University but funded by the Department for Food, Environment and Rural Affairs (DEFRA) — announced its findings and projections.

It found that it was 66 per cent probable that man-made greenhouse gases had caused a one degree rise in mean UK temperatures since the 1970s, and underscored the need for a drastic cut in carbon emissions.

Since 1997, the Government’s UK Climate Impact Programme has been working with the public, private and voluntary sectors to assess how a changing climate will affect us all.

It emphasises that whether or not we change our ways with regard to carbon emissions, changes in weather are on the way in any case — thanks to emissions already made.

It advises businesses on how to adapt to climate change. Now it has also produced fact sheets describing probable outcomes in the future, based on low, medium, or high emission scenarios.

Meanwhile, back at Venturefest, Dr McCulloch said: “Recent advances in electrical power mean that it is now possible to make motors that can produce three times the power for the same weight. The whole shape of the technology is completely different.” A new material is responsible for the technological breakthrough.

For certain: over the next decade, motoring itself will also change out of all recognition.