Word: cleantech
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Dates: during 2000-2009
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...while green jobs may not be plentiful today, they surely have a more sustainable future than the industries that are being wiped out. "Even in a sea of despair we're enormously encouraged," says Alan Salzman, the CEO of VantagePoint Venture Partners, which has invested billions in green industries. "Cleantech is going to be the industrial revolution of the 21st century...
...strong economy lies beyond getting citizens to spend more and expanding the service industry. The next Chinese miracle, at root, will mean becoming a first-rate technological power. China's road ahead was on display earlier this month in Shanghai, when a San Francisco - based company called the Cleantech Group hosted a venture-capital forum aimed at driving investment dollars toward alternative-energy entrepreneurs on the mainland. Opportunities appear to be plentiful, despite the dim economic environment. Forum attendee Patrick Tam, CEO of Beijing Tsing Capital, says he is investing heavily in Chinese clean-tech companies - most recently...
...companies such as First Solar, whose stock jumped from $25 to $215 in the past year, are angling to become green Googles. In turn, green venture capital in the U.S. is projected to rise to $18 billion by 2010, according to Nicholas Parker of the research group Cleantech Network. "There are huge problems facing us, and the only way to solve them is through innovation," says Khosla. "That's what venture capital does best...
...while before many of them do. Jones successfully lobbied for a $250,000 pilot program, the Oakland Green Jobs Corps, but tepid public support elsewhere has kept green employment from taking off. Still, the promise is real. A study by the Cleantech Network, which tracks green investment, found that for every $100 million in green venture capital, 250,000 new jobs could be created. To speed that transition, Jones and Majora Carter of the Sustainable South Bronx in New York City recently launched Green for All, a campaign to secure $1 billion in government funding to train a quarter-million...
...business community wants more action on the environment than the Bush Administration does," says Esty. So while the Federal Government dragged its feet on alternative energy, business moved into the vacuum, lured primarily by potential profits. In 2005 Goldman Sachs pledged to invest $1 billion in renewable energy, while Cleantech Venture Network estimates that $10 billion in venture capital will be directed to green technology from 2005 to 2009. Under CEO Jeff Immelt's Ecomagination initiative, GE has committed to spending $1.5 billion a year on renewable energy and other green research by 2010. That's already translating to sales...