Wednesday, September 27, 2006

Cleantech investment, with PA in the lead again

Pennsylvania is leading the way again with a recent announcement to invest $90 million in clean technologies, called the Keystone Green Investment Strategy (can I get dual stateswomanship as a PAer?). Venture capitalists report that clean technology is the fastest growing segment of private funding business.

Clean energy technologies are expected to reach $17 billion globally by 2009, according to the
Cleantech Venture Network, and it's currently the third most investment lucrative field, ahead of medical and telecom. Besides PA, California's two largest pension funds are also invested in clean technology: the California Public Employees' Retirement System and the California Public Teachers' Retirement System. This isn't just a feel good move of course; clean technology, like any other investment, is expected to make money, and I think with the increased effects of global warming being felt and unstable fossil fuel prices, clean technology will be one of the most profitable sectors in the years to come.

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