The Global View

Dotcom investors move to clean and green tech

Greenbang’s crystal ball told you this was going to happen. And looky here, it is:

DOTCOM entrepreneurs are beating a path to the clean technology sector as cashed-up super funds open the spigot for ventures targeting green concerns ranging from energy to drought and global warming.

Venture capitalists who raked in big bucks during the 1990s internet boom are also setting their sights on cleantech, with plans to funnel tens of millions worth of general technology funding into green startups.
Worldwide, investment in clean technologies designed to reduce consumption, increase industrial efficiency and slash emissions, has exploded in the past three years.

The Cleantech Venture Network reports that North American and European venture capital investment in cleantech hit $US3.6 billion ($4billion) last year, up 45 per cent from 2005 and more than double the $US1.7 billion pumped into the sector in 2004.