Wednesday, May 14, 2008
Today we are pleased to announce our participation in BrightSource Energy's $115 million venture financing with a $10 million equity investment as part of Google's RE<C initiative.
Solar thermal energy generation is one of the key emerging industries addressing the changing global climate and we are excited about both of our current investments in solar thermal technology -- BrightSource Energy and eSolar.
In addition to making investments in renewable energy startups, we plan to make grants to support the research and development of enabling technologies to help the solar thermal industry achieve larger scale and lower costs. 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.
We are also looking for a Head of Renewable Energy to run our internal R&D effort, which is focused initially on solar thermal power, advanced wind technologies, and enhanced geothermal systems.