Thursday, October 30, 2008

GOOGLE LOOKING TO INVEST IN ENERGY SECTOR

October 30, 2008
The Economic Times

Internet search and advertising leader Google Inc is increasingly looking at the energy sector as a potential business opportunity, a newspaper reported.

Engineers at Google are hoping to unveil tools soon that could help consumers make better decisions about their energy use, the paper said.

Google has hired engineers who are conducting research in renewable energy, former government energy officials, scientists and even a former NASA astronaut, whose experience with electronic gadgets is being put to use to develop energy tools for consumers, the paper said.

It added that the company's philanthropic unit, Google.org, is considering large investments in projects that generate electricity from renewable sources.

"We want to make money, and we want to have an impact," Dan Reicher, director for climate change and energy initiatives at Google.org, told the Times.

But with a recession looming and oil prices dropping, investors might pressure Google to curtail its clean energy ambitions, the paper said.

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