A follow-up article on the boom in cleantech investing, as covered in my previous post. The title in this story is a little more oblique..."Green Energy Makes Money". Well, ok then.
Of interest to me, on several levels. How does the WSJ quote Mark Heesen, President of the National Venture Capital Association in their fashion, but somehow the same guy gives a complete different quote to Fortune:
"Long term, this is an area that is going to be as important to the venture capital community as biotech and IT have been in the last twenty years," says Mark Heesen, NVCA president.I actually cut from the quote in the previous post. Here is the quote from the other article in its entirety.
“As has been demonstrated in the information technology and life science arenas, investing in new technologies can be fraught with pitfalls and is not for the inexperienced or the faint of heart,” he said. “Prudent, long-term, knowledge-based investment in cutting edge technologies has been the hallmark of venture capital in the past and should be the mantra in the CleanTech space as well. Short-term ‘tourists’ should steer clear.”Both quotes make highly relevant points. Both quotes also could lead to very different conclusions. One is soundbite snappy, the other far more nuanced. Interestingly, the former is a mainstream online publication, the latter a blog.
On a separate note, among the causes (per this article) of the sizable increase in cleantech investing:
The emergence of the Indian and Chinese economies, both of which are consuming energy at a rapidly increasing rate, has drastically expanded the potential market for new energy technologies. Meanwhile, the combination of rising oil prices and environmental concerns has strengthened demand from policy makers and the public for alternative and more efficient sources of energy.