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Page added on June 29, 2006

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VCs Bet on Solar, Biofuel Money-Losers in Green Energy Frenzy

(Bloomberg) — SolFocus sounds like a typical Silicon Valley startup: Eight employees, big ideas — and zero profit. Yet in mid-May, the phones at the eight-month-old company wouldn’t stop ringing.

The callers were venture capitalists, and they were dangling millions of dollars in front of the Palo Alto, California-based solar panel maker. Ty Jagerson, vice president of business development, says as soon as he’d start talking to one VC, another would call offering money.

“It was completely insane,” Jagerson, 35, says.
Bloomberg



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