Green Tech Getting Huge Investments

by Darren

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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.

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