Green Tech Getting Huge Investments

by Darren

It should come as no surprise just how popular green technology is becoming. And it’s no wonder why. With people becoming more focused on building a renewable and sustainable future, changes to how companies do business become inevitable. Kleiner-Perkins, the famed technology investment company has announced their plans to pump $700 million into green technology startups.

The $500 million later-stage fund, called Green Growth, is a departure for Kleiner Perkins, which has traditionally invested in early-stage companies.

But John Denniston, the Kleiner Perkins partner who is co-managing the fund, said the firm now gets more than one business plan a day involving green technologies, and he expects that number to increase as oil prices rise and demand increases for products that can help slow global warming.

“We’re seeing a great opportunity to build large, high-impact global companies,” Denniston said.

The scope of the opportunities involved in green tech are becoming obvious to everyone. Investments in green tech companies has blossomed into over $2.7 billion in 2007.