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Venture Capitalists 'Embrace Green Technology'
US - Venture capitalists are "pouring money" into green energy companies, according to a report in the Wall Street Journal.US venture firm Kleiner Perkins Caufield and Byers is directing a third of its investments into the development of green energy technology.
Kleiner Perkins partner John Doerr says he is currently developing a California-based solar thermal energy project which will produce electricity for the same price as electricity derived from natural gas.
"Biofuels, innovative biofuels, will scale. They can be adopted very gradually. I personally believe that photovoltaics, while further out, hold a lot more promise than anyone anticipates today," he comments.
Mr Doerr says that innovations in transport efficiency are also needed to conserve energy on a large scale and adds that the amount of gas produced by cattle is also a problem.
The firm, which has offices in Menlo Park, Beijing and Shanghai, boasts a large portfolio of businesses, such as Glori Oil, Luca Technologies and Terralliance.
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