The current economic crisis is putting a toll on the venture capitalists of the world, these entrepreneurs are being squeezed by the banks and the necessary funds for the research and development of “clean technology” have disappeared. The electric/hybrid auto start-up companies are being crushed by the big auto manufactures and the bailout for the big three is putting necessary R&D funds toward operating expenses. The short of it all…. less innovation, less technology, and less of what we desperately need more…. less of a carbon footprint. Wow, sound confusing but folks money is what makes the world go round and if banks continue the new trend of not to lend, great ideas will remain in the minds of the innovator.
I recently read a article in the Wall Street Journal which summarized a perfect example. A Norwegian start-up company called Think Global was a front runner in the electric car world. A company started in 1991, produced a zippy little city coupe that was able to go 110 miles on a single charge , just filed for bankruptcy protection in December and sent most of its three hundred employees home on temporary leave. Searching the world, it was unable to secure the 60-100 million it needed to finance its future growth. Several others small automotive companies are in the same boat, like the India-based REVA Electric Car co. and Telsa Motors in California.
My focus for this Blog is to inform my customers and future customers of information that is relevant to the green industry. I don’t like to write about negative subjects, most papers and news stories are mostly gruesome and harp on the negative tones. That is NOT my intention and you will find a positive approach to the subjects on this blog. I felt I needed to say something here because what is happening with the banking industry is going to have a huge impact on the world and especially Green Technology. America was built on invention, innovation and manufacturing and we need to get back to the core values in order to get through this current setback were experiencing. I promise to return to positive subjects and please lets all demand greener products. If we continue to use our green to buy green, profits will appear and banks will loosen the tight belt….. I hope.
Let me know what you think!
Tags: economy, Electric Autos, Hybrid, Think Global
January 28, 2009 at 4:41 am |
well i think exactly the same as you think….pollution is the biggest problem we all are facing and if the same trend continues then there won’t be any artic nor antartic left in earth….i think governments should step in to bailout the companies and also these companies should work very meticulously in these stringent conditions….
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