From a SiliconBeat post this evening:
"During the first quarter, venture capitalists invested $513 million into companies that have a clean-technology aspect to them, a six-year high, according to the Cleantech Venture Network quarterly report, to be released tomorrow.
"That's a 2.3% increase over the previous quarter, and a significant 52.9 percent jump over the same quarter a year ago. Moreover, a record $357 million was invested into clean-tech energy companies."
All this money is betting the "next Google" will be in clean tech says Kleiner Perkins partner Bill Joy in a new Business Week interview:
[Kleiner partner] John Doerr said to me: "Are we going to have any more Googles?" And I said: "You're damn right we are, because we are at the point of new wealth creation when it comes to green technology." John used to say Google is the greatest legal creation of wealth [ed: He actually said it was the Internet -- not just Google], and I think the greatest legal creation of wealth today is in the green area -- not just in the U.S. but in the developed world. We have been looking at a lot of things related to new fuels, such as ethanol, fuel cells, advanced battery technology, and new ways of using biotech to make fuels.... There will be an enormous amount of new [green] technology, new wealth, and we are trying to create the Googles, the Microsofts of the new era. [Even] the garbage stream has a high value.
And this is just in the venture world. Established tech players like Sun Microsystems, Applied Materials and AMD are getting into the clean tech game in a big way, too. Why? Sure, some of it comes from being good corporate citizens. But, mostly, it's just good capitalism. And, that's the reason for optimism. If we had to rely on warm fuzzies to save the planet, we would soon be breaking out the 463 windsurf board to make our way down K Street.
Need more proof? Look no further than Wal-Mart -- the epitome of market forces -- and the reaction to their green plan by ultra-ultra liberal Mark Morford at SFGate...(excerpts after the jump)...
Wal-Mart's president, Lee Scott, delivered a "secret" speech to employees about "21st Century Leadership," in which he outlined a whole slew of what can only be called truly remarkable and potentially world-altering agenda items to help ensure the future health of the world's biggest shopping hell.
And what a speech it was. Packed with all sorts of pledges and goals of such a green and sustainable and forward-thinking nature it might as well have been floating on boats of tofu on waves of Sierra Club blown by winds of Utne Reader. It was, in a word, surreal. And if even half of it is true, more than a little revolutionary.
There was talk of stores eventually being supplied with 100-percent renewable energy. Talk of ultimately creating zero waste, of pledging to reduce packaging materials across the board and create more recyclables and replace PVC packaging in all Wal-Mart branded items with more eco-friendly materials. And when you're talking megatons of plastic, that's saying a lot.
It gets better. Wal-Mart has already committed to selling 100-percent sustainable fish in its food markets. They are already experimenting with green roofs, corn-based plastics and green energy (which is now used to power four Canadian stores, for a total of 39,000 megawatts, amounting to what some estimate is the single biggest purchase of renewable energy in Canadian history).
The reasoning, according to Morford:
Like any giant company suddenly "embracing" the green initiative (hi, GM and Ford), Wal-Mart's rationale for all of this, of course, has absolutely zero to do with any sort of deep concern for the planet (though it does make for good PR), nothing at all about actual humanitarian beliefs or honest emotion or spiritual reverence, and has absolutely everything to do with the corporation's rabid manifesto: cost-cutting and profit.
The reason Scott promised that Wal-Mart will double the fuel efficiency of their huge truck fleet within a decade? Not to save the air, but to save $300 million in fuel costs per year. The reason they aim to increase store efficiency and reduce greenhouse gasses by 20 percent across all stores worldwide? To save money in heating and electrical bills, and also to help lessen the impact of global warming, which is indirectly causing more violent weather, which in turn endangers production and delivery and Wal-Mart's ability to, well, sell more crap. Ah, capitalism.
Seems Wal-Mart has realized one vital maxim that so many fundamentalist right-wing capitalist GOPers have so far failed to grasp: The apocalypse is just really bad for business.
Indeed. And, preventing the apocalyse happens to be pretty good for business. And, for more on clean tech (with less venom) see our previous pieces on the subject.
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