RechargeIT.org: A Google.org Project

From earlier this week, Google announced plans to invest up to $10 million in green startups and has a request for proposals out.

Google.org is committed to finding innovative transportation solutions to reduce greenhouse gas emissions that cause global warming. Earlier this summer, Google.org launched its RechargeIT Initiative to accelerate the adoption of plug-in hybrid electric vehicles and vehicle-to-grid technology through technical demonstrations, grant-making, advocacy and investments. As part of this initiative, we are issuing a $10 million request for investment proposals (RFP). We plan to invest amounts ranging from $500,000 to $2,000,000 in selected for-profit companies whose innovative approach, team and technologies will enable widespread commercialization of plug-in hybrid electric vehicles, electric vehicles and/or vehicle-to-grid solutions. This RFP is global in scope, and we encourage responses from companies anywhere in the world.

This is great news, adding more potential investment dollars to the already fired-up alternative energy sector.

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