CSMG Technologies, Inc (fka CTGI)

[sojourner]

G.Soros to invest US$1.0 billion in Clean Tech

While the planned investment is hefty, the number pales in comparison to those released by London research firm New Energy Finance, which says total worldwide new financial investment in clean energy totaled $25.9 billion in the third quarter.

(ed. CSMG's "Clean Energy Division" please take note.)

http://www.thedeal.com/corporatedealmaker/2009/10/george_soros_commits_1b_to_cle.php

Legendary hedge funder George Soros, who has given billions of dollars to various causes over the past several decades, is jumping into the cleantech pool, pledging $1 billion worth of investments in the sector. Soros announced the plan at a Project Syndicate editors' forum in Copenhagen on Saturday.

He will also provide $100 million over 10 years for a new foundation, Climate Policy Initiative.

But where exactly is the billionaire's $1 billion going?

While he didn't give details, Cnet News notes the need for cleaner coal has been a critical issue for Soros. The report shows that in April he was part of a consortium that funded $50 million toward PowerSpan, a firm researching and developing methods for cleaner coal. He said he will look for profitable opportunities and insist any investments make a real contribution to solving the problem of climate change. A vast amount of coal is used to create electricity, and there has been a bit of consolidation in the industry: Alpha Natural Resources Inc. (NYSE:ANR) completed its $2 billion acquisition of Foundation Coal Holdings Inc. in August, making it the third-biggest coal producer in the U.S.

A CMEA Capital general partner told MercuryNews.com that Soros would likely focus most of the money of later-stage cleantech companies with proven technologies to help position mature startups for IPOs on Wall Street. Less than one month ago, we reported on lithium-ion battery maker A123Systems Inc. (NASDAQ:AONE) making its public debut.

Soros could also invest in solar, wind tech, biofuel and various other companies.

While the planned investment is hefty, the number pales in comparison to those released by London research firm New Energy Finance, which says total worldwide new financial investment in clean energy totaled $25.9 billion in the third quarter.


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