The spur towards green technology is hitting the rich budgets. There is widespread eagerness to spend money in renewable technology such as solar power, electric cards, renewable fuel as well as geothermal energy. These investors seem to be undisturbed by the recent recession as they pump out millions in the field of renewable energy.
A “list of the green 100 tycoons” has spent almost £267 billion. There has been a sturdy commitment to support renewable energy financially. The immense sum demonstrates the embankment conservationism of the environment from the top riches families. The list is as usually led by Warren Buffett and Bill Gates with investments of £27 and £26 billion respectively.
Here is an short list of the 9 first tycoons Investing in the Green Field
1. Warren Buffett, USA, £27bn, Wind power
2. Bill Gates, USA, £26bn, Renewable fuel
3. Ingvar Kamprad, Sweden, £22bn, Renewable energy
4. Marcel Brenninkmeijer, Holland, £19bn, Natural power
5. Mukesh Ambani, India, £15bn, Life sciences
6. Michael Bloomberg, USA, £14.4bn, Natural energy
7. Michael Otto, Germany, £13.2bn, Green products
8. Paul Allen, USA, £11.5bn, Natural fuels
9. Donald Bren, USA, £8.2bn, Environmental research
Bill Gates and Warren Buffett habitually swap places as world’s top billionaires in Forbes annual list and now in renewable investment as well. Buffet in the field of wind energy and electric cars while gates focus on alternative fuels such as algae. A sum of $230 million was provided to a Hong Kong battery-maker BYD.
There are 35 Americans in the list and most of them have their fortune thanks to technology such as internet, microchips or software. Larry Page and Sergey Brin fortune from Google are now in the green field. This collaborative investment is supporting Obama administrations stimulus package.
Capital in America is certainly pursing green technology. In China, the focus is on producing a mass of green technology. There are 17 Chinese investors among the top 100 tycoons. The investment is concentrated in electric-car and solar technology. It is assiduous in its drive to exploit market share as well as reducing cost to become competitive.
From Britain, there are 10 tycoons, pursing similar mass goals as the Chinese. Seven German tycoons concentrate on wind turbine. The British “Sir Richard Branson” invests in alternative fuels.
In the field of renewable engineer since long, we have Aloys Wobben, a German engineer graduate. He started Enercon in the early 1984 and constructed his first wind turbine in the back yard. Now the company is employing 6,000 employees and export highly complex turbines.
There are other German industrialists moving towards the green field. Twins Andreas and Thomas Strungmann who made their £6.8 billion fortune from pharmaceutical, has now sold-off their pharmaceutical company and have already supplied millions to German solar company.
Investments are not solely on technology. Some American investors are spending money to preserve environment, wildlife, and university research for renewable energy. These various investments can have a guiding impact on activism for climate actions. This will supplement Obama’s radical green initiative.
The massive investment in green energy is defying the recession and certifying the future investment field. Growing business will be prospering in the field of renewable energy as money is at the moment being attracted to alternative sources of energy and green technology.
Source: The times
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