A Forbes piece on Google’s latest investment in alternative energy. We’ll have Larry Brilliant, head of Google.org, at Web 2 this year…
… on Tuesday, Google.org, the philanthropic arm of search giant Google (nasdaq: GOOG – news – people ), announced it would try to help spur companies to reach underground to produce clean electricity. It is investing a total of $10 million in a geothermal energy company called AltaRock Energy and a drilling company called Potter Drilling, and it is funding research and mapping efforts and a policy agenda.
It is part of Google.org’s effort to help bring about renewable energy that is cheaper than coal by investing in companies, research and policy development. The organization is focusing on three main technologies: solar thermal power, which uses the sun’s heat to generate electricity; advanced wind technology; and, now, a way of tapping geothermal energy called enhanced geothermal systems, or EGS.
$10 Million in geothermal? Color me unimpressed. More hobby investing.
Why is an investment of $10 million in a technology that has been around for decades news? There are more impressive investments in Geothermal (as well as alternative energy / renewable resources by even BigOil).
Check out: http://www.chevron.com/deliveringenergy/geothermal/