Tuesday, 3 November 2009

Al Gore - World’s First Carbon Billionaire

From today's DT

The former US vice president is in line to make a large profit from a firm producing smart meters which monitor household electricity use.

He is a partner in a Silicon Valley venture capital firm which invested £45 million in Silver Spring Networks, a small California company which has been developing technology to monitor household power use to make the electricity grid more efficient.

Last week the US Energy Department announced £2 billion in grants and a proportion of that, thought to be more than £305 million, will go to utility operators with which Silver Spring has contracts.

The venture capitalists who invested, including Mr Gore, now look set to receive a handsome return.


Read the full article here.

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