I think the Reg title is a little harsh, no? It's the USA's Patriot Act (what a name) that's the problem. A USA owned firm can't avoid giving up your data and has to do so secretly. At least in the EU you will be served a warrant. Probably.
I see Zettabox are registered in the UK which seems silly when compared to registering in Germany and taking advantage of their strong privacy laws. At the moment we are busy passing legislative changes that allow all the naughtiness that GCHQ have been getting up to.
It's good to see these companies popping up. Moving business out of the USA is one way of making their government think twice (okay, think once).