Sir Richard Branson has joined forces with two of America’s top venture capitalists to slake California’s thirst for environmentally friendly fuels.
Branson has injected more than $60m (£32m) into Cilion, a company that will make bioethanol from corn. He is investing alongside Vinod Khosla, the renowned Silicon Valley entrepreneur, and Ron Burkle, a Los Angeles billionaire who counts Bill Clinton among his advisers.
The project is the start of a move by Branson’s Virgin empire into environmental businesses, a plan known internally as the Gaia Capitalism Project, after the environmental theory developed by the British scientist James Lovelock.
Virgin Fuels, the subsidiary used for the Californian scheme, will alone invest $400m in several biofuel schemes, including some in Britain.
Reported by Times Online.
Read the story here
No comments:
Post a Comment