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A year of tweets, smartphones and green tech
Tuesday, 29 December 2009, 18:19 Hrs |
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Huge investments have been made from outside the venture and government scene. ExxonMobil for instance has pumped $600 million into a San Diego-based scheme to develop fuel from algae, while two California-based companies have received almost $1 billion in government awards to develop electric cars.
Private investors were also eager to open their wallets as they sought to take advantage of low share prices for emerging technology firms. But while 2009 was a year of recovery for green technology, 2010 is likely to see a return to significant growth as high oil prices and the focus on a low-carbon economy continue to fuel interest in alternative energy.
"Bring me your business plans," venture capitalist Steve Westly told a tech industry conference in November. "We are ready to start funding again."
Source: IANS
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