Google invests in solar energy firm
Google has announced it has invested $10 million in BrightSource Energy.
The investment was made through the company's non-profit philanthropic venture as part of Google's REC initiative.
BrightSource Energy designs and builds large scale solar plants, delivering low-cost solar energy and Google says that it is excited about its investments in solar thermal technologies.
It identifies solar thermal energy as one of the key emerging industries addressing global climate change.
Google also said it plans to make grants available to support research and development of technologies allowing the solar industry to achieve larger scale and lower costs.
Chris Bussell, investment manager, and green energy team member Kevin Chen, said: "We believe that by supporting researchers and entrepreneurs taking different, ambitious approaches and risks to generate clean energy, we can help to accelerate progress and increase the collective economic value of these new clean energy industries."
Google is currently working with Pasadena-based eSolar, which specialises in replacing fuel in traditional power plants with heat produced from solar energy.
Article Date: 15 May 2008
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