Though typical sources for energy funding may be laggards there is good news on the energy investment front. According to Chris Morrison over at VentureBeat there’s been a flood of investment into Cleantech in the past few days. Kleiner Perkins just announced a $500 million Green Growth Fund for late stage investments, Al Gore’s Generation Investment Mangement fund has put up another $683 million and Foundation Capital is putting nearly a third of their money ($250 million) into green energy. Private equity is also jumping in.
This money will likely go into alternatives rather than conventional energy use and may lead to game-changing breakthroughs — or so the investors hope. Is John Galt hiding out there somewhere?