Kleiner Perkins has created a $100 million fund dedicated to green technologies, and Xerox PARC announced a collaboration with a venture called SolFocus, to develop and improve solar panel technology.
Cnet also reports that this has been a field of growing interest in the past two years from investors and entrepreneurs.
Its great to see more interest and money being directed towards socially responsible causes but what’s important to note here are the economic forces that are driving investment into “socially responsible” energy sources. Lets face it, venture capital firms, like Kleiner Perkins, are aware of the profit opportunity in energy– all the big oil companies are reporting record profits.
Although high fuel prices have hit all of us, the profit opportunity that comes along with it is the only motivation that seems to spur meaningful interest and investment into alternative fuels.