| George Soros to Pour $1B into Clean Energy Technology |
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bridges vol. 23, October 2009 / Noteworthy Information By Camille Ricketts 
George Soros
No further details were given on the types of technologies or companies the $1 billion will help finance. Soros said only that contenders will go through a rigorous evaluation process to make sure they are feasible and able to scale. But his earlier investments in the sector may be indicative of his current interests. For example, he has funded several clean coal companies, including carbon sequestration provider Powerspan . He has yet to express much interest in solar or wind - suggesting that he will focus more on strategies to clean up and improve the efficiency of fossil fuels. "There is no magic bullet for climate change, but there is a lethal bullet: coal," he said. "I will look for profitable opportunities, but I will also insist that the investments make a real contribution to solving the problem of climate change." Soros said former vice president Al Gore influenced him to take a closer look at cleantech. And he must have been pretty convincing. Soros' Climate Policy Initiative will launch next month in Berlin. Half watchdog, half lobbying firm, its mission will be to "protect the public interest against special interests" when it comes to energy legislation. Based in San Francisco, it'll be headed up by Stanford professor Thomas Heller - perhaps taking advantage of the proximity of Silicon Valley as it rebrands itself as a cleantech hotspot. Access to the full article is free, but requires you to register. Registration is simple and quick – all we need is your name and a valid e-mail address. We appreciate your interest in bridges. |
