Clean tech movement goes global
0802
The green tech revolution that promises new, clean sources of energy seems
to be spreading everywhere - including the oil-rich Middle East.
An annual conference of green companies and investors in San Francisco
Tuesday illustrated the young industry's global reach.
Representatives from Abu Dhabi and Singapore pitched their cities as great
places for the industry to grow. Other executives at the Cleantech Forum
announced the formation of an organization to help green startups in
India.
"Clean tech is a global phenomenon, both in terms of need and
opportunity," said Nicholas Parker, co-founder of the Cleantech Group,
which organized the forum. It tracks trends in the industry and serves as
a matchmaker for investors and entrepreneurs.
The conference also showed that companies well outside the clean-tech
industry have an appetite for green products. A Wal-Mart representative at
the forum unveiled a system for screening green companies that want to
sell their wares and services to the retail giant.
Known both as green tech and clean tech, the industry develops alternative
fuels, better ways to use existing resources and other eco-friendly
products. Most of the companies are young, and many call Silicon Valley
home. California clean-tech companies won $1.79 billion in venture capital
funding last year, 45 percent of the nationwide total of $3.95 billion.
And yet, green-tech companies also are springing up in Europe, China and
elsewhere. As the world grows more concerned about high oil prices and
global warming, governments are looking for ways to nurture this industry,
hoping to make it their own.
That includes the United Arab Emirates, a small Persian Gulf nation with
some of the world's largest oil reserves. The government there benefits
mightily from oil prices stuck near record highs, but it doesn't want oil
to be the sole focus of the country's economy. The government has been
building Abu Dhabi's financial services industry and sees in clean tech
another way to build a knowledge-based economy.
"It's very clear - let's extend our activities in the energy sector. It's
what we do best," said Sultan al Jaber, chief executive officer of the Abu
Dhabi Future Energy Co. "We're creating the Silicon Valley of alternative
energy in Abu Dhabi."
The government in Abu Dhabi, capital of the Emirates, has committed $15
billion to a series of clean-tech efforts that include setting up a $250
million venture capital fund and planning an entire city that will derive
its electricity from solar power. Al Jaber came to the forum looking for
companies and investors that want to participate in the efforts,
collectively known as the Masdar Initiative.
"We want people to know we're open for investments, for partnerships, for
collaborations," he said.
While Abu Dhabi is trying to create a green-tech industry, India already
has one. But it is still small, receiving just $210 million in venture
funding last year, according to the Cleantech Group.
So the Cleantech Group is expanding its operations into India and has
tapped noted Silicon Valley investor Vinod Khosla as chairman of its
advisory board for the country. Just as it does here, the group will try
to connect investors and entrepreneurs in a country whose fast-growing
economy needs more electricity and fuel. While India is interested in
green technology, there is concern that it is still too expensive for a
developing country.
"Obviously, clean tech is a major phenomenon in the West," Khosla said.
"It's a major question in India."
Khosla said, however, that several forms of renewable energy will soon be
cheaper than fossil fuels. At that point, "the question of technology
adoption in India will go away."
The Cleantech Group and Wal-Mart unveiled a system that will help green
companies, even very small ones, sell their products and services to the
world's largest retailer.
Wal-Mart will post on a Web site requests for services or products that it
needs for its operations, including better ways to manage solid waste and
better batteries for forklifts. Green companies can find those requests on
the Web site, www.cleantech.com/accelerator, and submit proposals to the
company. The Cleantech Group will review those submissions and recommend
which ones Wal-Mart should pursue.
The group hopes large companies besides Wal-Mart will participate in this
system, dubbed the Cleantech Accelerator.
"As a company moving toward a more sustainable future, we see clean
technologies playing a large role in how we get there," said Matt Kistler,
Wal-Mart's senior vice president for sustainability. Green tech extends
its reach worldwide
At the Cleantech Forum this week in San Francisco, companies creating
eco-friendly products are seeing increased interest from around the world.
-- The head of a $15 billion green-tech effort in Abu Dhabi is courting
companies and investors.
-- Tech investor Vinod Khosla will chair the advisory board for a new
clean-tech network in India that will connect Indian startups with
investors.
-- Wal-Mart has adopted a system for buying products and services needed
for its own operations from small, green companies.
The green tech revolution that promises new, clean sources of energy seems
to be spreading everywhere - including the oil-rich Middle East.
An annual conference of green companies and investors in San Francisco
Tuesday illustrated the young industry's global reach.
Representatives from Abu Dhabi and Singapore pitched their cities as great
places for the industry to grow. Other executives at the Cleantech Forum
announced the formation of an organization to help green startups in
India.
"Clean tech is a global phenomenon, both in terms of need and
opportunity," said Nicholas Parker, co-founder of the Cleantech Group,
which organized the forum. It tracks trends in the industry and serves as
a matchmaker for investors and entrepreneurs.
The conference also showed that companies well outside the clean-tech
industry have an appetite for green products. A Wal-Mart representative at
the forum unveiled a system for screening green companies that want to
sell their wares and services to the retail giant.
Known both as green tech and clean tech, the industry develops alternative
fuels, better ways to use existing resources and other eco-friendly
products. Most of the companies are young, and many call Silicon Valley
home. California clean-tech companies won $1.79 billion in venture capital
funding last year, 45 percent of the nationwide total of $3.95 billion.
And yet, green-tech companies also are springing up in Europe, China and
elsewhere. As the world grows more concerned about high oil prices and
global warming, governments are looking for ways to nurture this industry,
hoping to make it their own.
That includes the United Arab Emirates, a small Persian Gulf nation with
some of the world's largest oil reserves. The government there benefits
mightily from oil prices stuck near record highs, but it doesn't want oil
to be the sole focus of the country's economy. The government has been
building Abu Dhabi's financial services industry and sees in clean tech
another way to build a knowledge-based economy.
"It's very clear - let's extend our activities in the energy sector. It's
what we do best," said Sultan al Jaber, chief executive officer of the Abu
Dhabi Future Energy Co. "We're creating the Silicon Valley of alternative
energy in Abu Dhabi."
The government in Abu Dhabi, capital of the Emirates, has committed $15
billion to a series of clean-tech efforts that include setting up a $250
million venture capital fund and planning an entire city that will derive
its electricity from solar power. Al Jaber came to the forum looking for
companies and investors that want to participate in the efforts,
collectively known as the Masdar Initiative.
"We want people to know we're open for investments, for partnerships, for
collaborations," he said.
While Abu Dhabi is trying to create a green-tech industry, India already
has one. But it is still small, receiving just $210 million in venture
funding last year, according to the Cleantech Group.
So the Cleantech Group is expanding its operations into India and has
tapped noted Silicon Valley investor Vinod Khosla as chairman of its
advisory board for the country. Just as it does here, the group will try
to connect investors and entrepreneurs in a country whose fast-growing
economy needs more electricity and fuel. While India is interested in
green technology, there is concern that it is still too expensive for a
developing country.
"Obviously, clean tech is a major phenomenon in the West," Khosla said.
"It's a major question in India."
Khosla said, however, that several forms of renewable energy will soon be
cheaper than fossil fuels. At that point, "the question of technology
adoption in India will go away."
The Cleantech Group and Wal-Mart unveiled a system that will help green
companies, even very small ones, sell their products and services to the
world's largest retailer.
Wal-Mart will post on a Web site requests for services or products that it
needs for its operations, including better ways to manage solid waste and
better batteries for forklifts. Green companies can find those requests on
the Web site, www.cleantech.com/accelerator, and submit proposals to the
company. The Cleantech Group will review those submissions and recommend
which ones Wal-Mart should pursue.
The group hopes large companies besides Wal-Mart will participate in this
system, dubbed the Cleantech Accelerator.
"As a company moving toward a more sustainable future, we see clean
technologies playing a large role in how we get there," said Matt Kistler,
Wal-Mart's senior vice president for sustainability. Green tech extends
its reach worldwide
At the Cleantech Forum this week in San Francisco, companies creating
eco-friendly products are seeing increased interest from around the world.
-- The head of a $15 billion green-tech effort in Abu Dhabi is courting
companies and investors.
-- Tech investor Vinod Khosla will chair the advisory board for a new
clean-tech network in India that will connect Indian startups with
investors.
-- Wal-Mart has adopted a system for buying products and services needed
for its own operations from small, green companies.
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