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Gore Puts Venture Money Where His Mouth Is

guardian.co.uk

Al Gore’s Generation Investment Management has teamed up with venture capital heavyweight Kleiner Perkins Caufield & Byers to try to close the “significant gap between the capital needed and the capital currently deployed to create enduring solutions to the climate crisis.” The alliance will have a global focus and will seek to multiply by “many times” the $200 million already invested by KPCB in green projects.

Guardian America:

Gore’s Generation Investment Management company and Kleiner Perkins Caufield & Byers aim to use their combination of financial firepower and expertise to help speed up the development of technologies and policies needed for a low carbon economy.

“There is a great need to accelerate the discovery of the best technologies; a great need for them to be more quickly developed. We are determined to play our part,” Gore said. “The alliance brings together world-class business talent to focus on solving the climate crisis. Together, we have a working understanding of this urgent, multi-dimensional challenge and are resolved to help business and government leaders to accelerate the development of sustainable solutions.”

As part of the alliance, Gore, who was awarded the Nobel peace prize this year for his work on tackling climate change, will join KPCB, which has an investment record that includes companies such as AOL, Amazon.com, Google, Compaq Computer, Netscape and Sun Microsystems. The US venture capital company has already invested $200m in green technology products and services but one of its partners, John Doerr, said yesterday he expected input would be “many times that over the duration of this collaboration which we expect to be very long-lived”. The alliance with Generation Investment Management marked “a turning point for climate entrepreneurs around the world”.

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TAGS: business economy environment global warming gore investment kpcb technology venture capital

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By Enemy of State, November 14, 2007 at 12:08 am #

Truthdig readers are as seriously affected by anti-nuclear scaremongering, as Bushes supporters are by Islamo-fascism scaremongering. Of course this sort of venture capital is not going to nuclear, so we shouldn’t be discussing it here. A lot of venture capital is being attracted towards clean-tech these days. As with any startups, most will fail, but hopefully a few will be great successes. As ususal investors in this or any other fund should carefully evaluate the risks. Don’t invest just because Al is on board. Do so if the fundamentals make sense to you.

In any case investment in potential new green-tech is a good thing. The risk is that too much money will be invested on too many poorly thought out businesses. It would be bad if clean-tech gets a bad reputation if too many of these investments go bad, as happened with the dot-com stuff.

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By Todd Millions, November 13, 2007 at 6:39 pm #
(Unregistered commenter)

Any time the vice pres of the previous too last war crimminal in chief(unindited),OPENS HIS YAP ON THE ENVIROMENT OR CLIMATE CHANGE-one can’t help thinking of nooses being reusable.There is this little inescapable thing about him-his record.Which seems not too translate well into Swedish.
The thing too watch on this develpoment will be-funding of the actually useful,circumventing of oil mafias on crutial things like battery patents(and availability),or whether the cap funds are pissed away on clean coal or nuke delusions.If the later is fact-Gore has his hand up it.
So a trial by fact furthers most quickest(and makes the pr firms scramble hardest).

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By Stephen Smoliar, November 13, 2007 at 2:10 pm #

This is a complicated many-sided issue, which I decided to discuss at greater length on my own blog at:

http://therehearsalstudio.blogspot.com/2007/11/cautionary-reaction-to-gore-move.html

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By jatihoon, November 13, 2007 at 12:49 pm #

What a “NOBLE -IDEA>” or should I say move.

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By Outraged, November 13, 2007 at 1:39 am #

Well, I have supported Gore in the past, however now I’m finding him a bit disingenuous. A quote from a very good article below:

“Throughout his political life, Gore supported Big Oil and was tied to Occidental Petroleum Company and its “ruthless tycoon” chief, Armand Hammer. In return for supporting company interests, he got political favors and patronage from Hammer and his successor, Ray Irani who was a major DNC contributor and got to sleep in the Lincoln bedroom as a bonus reward. He’s also been a shill for the nuclear industry that won’t solve or even alleviate global warming and the threat it poses according to nuclear expert Helen Caldicott. Commercial reactors discharge huge amounts of greenhouse gases along with hundreds of thousands of curies of deadly radioactive gases and other radioactive elements besides being sitting ducks for retaliatory terror attacks experts believe will eventually happen.”

The rest can be read at:
http://www.globalresearch.ca/index.php?context=va&aid=7118

What a bummer. Wow Gore, you had it ALL, then choked…......

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By thomas billis, November 12, 2007 at 11:47 pm #
(Unregistered commenter)

You go girl!He could have been our President.Someone who can speak English and has been right over the last 20 years on every issue.Instead the American people in their infinite wisdom decided to go non human and elect a chimp.Well the chimp is playing the organ and we are all dancing.

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