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June 12th, 2008
The Manhattan Project Is Underway
Abstract:
According to New Energy Finance Ltd., a London-based research firm, in 2007 some $148.4 billion was invested globally in what it calls "clean energy technologies, companies, and projects." That's nearly a four-fold increase over 2004 levels. And the 2007 estimate may be too low, according to Mark Mills, a co-founder of Digital Power Capital, a private equity fund that invests in energy technologies, and the co-author of The Bottomless Well, a provocative book on energy. Further, Mills points to two critical differences from the 1970s, when energy price spikes hit the U.S. They are the huge amount of venture capital now available to energy entrepreneurs, and "the phenomenal new suite of technologies that are being brought to the market that can address the problem."
Back in the '70s, there was little private capital available to entrepreneurs who were developing new energy technologies. Today there are several thousand firms providing venture capital or private equity. And they are providing funding to inventors who can tap a staggering array of new technologies, from nanotechnology to high-bandwidth wireless communications, as they work to come up with new energy solutions.
Source:
energytribune.com
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