Silicon Valley, known today as the new Detroit, is a growing spot for new and innovative greentech companies. New environmentally-progressive ideas and technology are being implemented daily in Silicon Valley—where the technology boom originated. Let’s hope Silicon Valley will do for sustainability what it did for the internet! Here is a look at some of the new start up companies in Silicon Valley and their contribution to the greentech revolution:
InnovaLight: Innovalight is a startup company based in Sunnyvale, California that is working with crystalline silicon cells. Their main focus is to improve the efficiency while reducing the cost of solar cells, which are used to convert photons of solar energy into electrical current. By increasing the efficiency of this process by just one percent (1%), the cost of solar energy can be reduced by six percent (6%)! As solar technology becomes more advanced and inexpensive, soon we will be able to harness the full power of the sun and reduce our dependence on burning coals and fossil fuels for energy!
Cobalt Biofuels: Cobalt Biofuels is a start up company in Mountain View, California that specializes in greener fuels for usage in cars—specifically they specialize in Biobutanol. Biobutanol reduces greenhouse gases by 85% when compared to petroleum based gasoline, and cars do not need to be modified in order to run on biobutanol! Cobalt Biofuels plans to bring in scientific leaders to improve bacterial strains, the fermentation processes, and separation technologies used in creating biobutanol. Former Governor Arnold Schwarzenegger has said “Cobalt shows us that what is good for the environment can also be good for the economy.” Not only is this new biobutanol fuel good for our environment, but it is also great for our economy by stimulating new jobs and reducing our dependence on foreign crude oil. To learn out more about Biobutanol: “Biobutanol”.
Tesla Motors: Tesla Motors is a startup company in Palo Alto, California, founded by a group of Silicon Valley engineers, and specializes in emission-free electric vehicles. Their first car—the Tesla Roadster—was first available for sale in 2008, and now there are more than 1,000 of these clean-running vehicles on the road. Tesla is working hard to make electric vehicles “fun” and popular to drive. Tesla’s specialties are the Tesla battery packs and power trains, which they also sell to other companies such as Toyota and Mercedes to use in their cars. The business strategy they use is to sell their own electric cars, sell their patented technology to other car companies, and to inspire other car companies to move towards making more electric cars! The new Chevy Volt from General Motors is said to be inspired by Tesla Motors. In 2012 you can purchase the Tesla S sedan car from Tesla for an estimated forty nine thousand dollars. Although a bit pricy, you will save tons of money over time by not having to buy gasoline. As demand increases, the cost to produce them will likely decrease as well, and these cost savings will hopefully be passed on to consumers?
Do you have any ideas to start up your own greentech company? There are many ways to raise money and network, and so many of the greentech companies also started from zero. These entrepreneurs worked hard to present their ideas to those with the financial ability to back them. The most important thing is to network and to keep putting yourself out there! Try going to a local green tech conference or one sponsored by companies looking to fund new sustainability projects as well! For example VantagePoint Venture Partners has funded companies such as Tesla Motors and a solar power plant developer called BrightSource Energy.
For information on finding grants: “Green-Investing”.
Good luck!
