CalCEFCalifornia Clean Energy Fund (San Francisco, CA)
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Although clean technology investments rose 78 percent in 2006, to $2.9 billion compared to $1.6 billion in 2005 -- and forecasters project that the global market for renewable projects will be $625 billion in 2010 and $1.9 trillion by 2020 -- CalCEF believes funding must increase at the seed and start-up stages to support this anticipated growth.
According to CalCEF, despite "significant environmental policy leadership" in California and a recent influx of private investment capital aimed at clean energy companies, seed-stage or angel funding continues to lag, creating a gap in the commercialization of new potentially transformational clean energy technologies.
"We must make investments today in promising early stage clean energy technologies if we are to position California to meet its world-leading clean energy goals in years to come," said CalCEF Chairman and California Public Utilities Commission President Michael R.