While all the other major IT companies are busy investing and taking over smaller prey, Google Ventures has decided to put their money into environment-friendly companies. Google invested in a company called CoolPlanetBiofuels, which also happens to receive funding from other big names, the biggest being GE.
Unusual investments from Google
CoolPlanetBiofuels calls their products “negative carbon fuels”. The company uses biomass to create high-quality fuels. The conversion process does not create any harmful or toxic materials. The waste is just a soil conditioner. Google has clarified that it isn’t backing CoolPlanetBiofuels as part of a strategy, but also expects returns from the company. This isn’t the first time Google has invest in companies outside the internet technology domain. It also invested in two other companies, one called RelayRides and the other Next Autoworks. Both companies specialize in automobiles. RelayRides is a car sharing program and Next Autoworks works on making energy efficient cars. Clearly, Google is looking to make a similar impact in the real world as they did in the online space.
Published Date: Mar 18, 2011 10:42 am | Updated Date: Mar 18, 2011 10:42 am