The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

Al Gore could become the world’s first carbon billionaire after investing heavily in green energy companies.

Posted by iusbvision on January 21, 2010

UK Telegraph:

Last year Mr Gore’s venture capital firm loaned a small California firm $75m to develop energy-saving technology.

The company, Silver Spring Networks, produces hardware and software to make the electricity grid more efficient.

The deal appeared to pay off in a big way last week, when the Energy Department announced $3.4 billion in smart grid grants, the New York Times reports. Of the total, more than $560 million went to utilities with which Silver Spring has contracts.

The move means that venture capital company Kleiner Perkins and its partners, including Mr Gore, could recoup their investment many times over in coming years.

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