Thursday, April 19, 2012
A new report finds that the amount of money invested in developing clean technologies in California continues to go up. Companies in the state land 60 percent of all U.S. venture capital aimed at the emerging technology.
SAN DIEGO More than $3.5 billion in Venture Capital found its way to California companies developing green technologies last year. The amount invested was up 24 percent over 2010. The report found the amount of money being invested bodes well for the economic health of the industry. And the investment continued while the overall economy was struggling.
2012 California Green Innovation Index
"As we're coming out of the recession, clean-tech investment rose by 24 percent to $3.5 billion. Our patents increased by 41 percent," said Doug Henton, study author.
The report also found that environmentally friendly power accounted for a growing share of the state's energy portfolio. Just over 13.5 percent of California's power came from renewable sources and that number is trending up, said Henton.