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Out of Our Minds
Thursday, June 23, 2005 9:55 AM
Seeking a Green Google
Anita Sharpe on Business

$59-a-barrel oil has finally forced a tipping point: one of the hottest new investment areas for venture capitalists is renewable/sustainable energy.

Energy Innovations, a company that captures solar energy on storage cells, hit the jackpot this week with a $16.5 million VC infusion led by Mohr Davidow. Mohr partner Erik Straser told the New York Times that if Energy Innovations can execute on their vision, 'they'll be a cash register stuck open.'

And where are Google billionaires Sergey Brin and Larry Page putting their money? One place is Nanosolar.

My sense is we're at the beginning of another big business boom, and this one will aim to make the world a better place. And, of course, Worthwhile hopes to be the chronicle of the movement.

1 comment

martin - 6/24/2005 10:43:42 AM
My only issue with the idea that $59/barrel (or $90/barrel) will cause a tip is that there are five new oil fields currently coming online. And more than a dozen are waiting to be tapped. Algeria, Canada, Iran (2) and one more will be pumping crude in the next few months. The result will be a price stabilization and a downward trend in cost per barrel and at the pump here in the US.

I hope that doesn't dry up the dollars we need to see go into energy innovations.


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