Alternative Energy - Wednesday, June 22, 2005
Clean Powered Sand Hill
The New York Times spots the alternative energy bandwagon among VCs. Yesterday, Idealab's Bill Gross announced that the solar power company he founded in 2000 - Alternative Energy - had raised $16.5M in venture capital led by Mohr Davidow. That on top of Kleiner's recent announcement that it had invested in Miasolé, and Mohr Davidow's other investment in Nanosolar makes it a clean trend, all of which is supported by the cool chart below.
It is not altogether surprising that the same VCs who typically invest in networking or Internet commerce companies are investing in alternative energy. It is interesting, however, to see startup executives who have no experience with energy leading the way. At Nanosolar, Martin Roscheisen is the CEO and has a great track record with Internet companies (eGroups, Findlaw founder among others), but he comes to Nanosolar with zero time in the energy business. Likewise, Andrew Beebe who is CEO of Alternative Energy was previously CEO of BigStep - an eCommerce company. We would bet it all that the geeks who work at these companies and who have devoted their lives to solar power get ticked when their boss asks them to explain the basics one more time.
Read - Green Tinge Is Attracting Seed Money to Ventures (NY Times)
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Edmonton dominated the Carolina Hurricanes on Saturday night and the 4-0 margin in Game 6 makes it hard to imagine the Oilers not hoisting hockey's Holy Grail above their heads in less than 48 hours. And it would not come as any shock to see defenseman Chris Pronger, who had another 31-minute night, take the honors for the Conn Smythe Trophy as the playoff MVP.
Posted by: arlinarle at June 23, 2006 07:29 AM
Edmonton dominated the Carolina Hurricanes on Saturday night and the 4-0 margin in Game 6 makes it hard to imagine the Oilers not hoisting hockey's Holy Grail above their heads in less than 48 hours. And it would not come as any shock to see defenseman Chris Pronger, who had another 31-minute night, take the honors for the Conn Smythe Trophy as the playoff MVP.
Posted by: angelangica at June 24, 2006 02:56 AM
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