Wednesday, February 14, 2007

Green revolution rocks on, Khosla already making money

Vinod Khosla is rocking after barely two years — Khosla, the Silicon Valley venture capitalist who hit it big during the telecom boom in the 1990s, turned two years to embrace green technology. We thought his outlandish bets on untested technologies such as celulosic ethanol - which most experts caution will be only be commercially viable in two years, at the earliest — would take some time to show results.

Yet his investment in Cambridge, Mass.-based Celunol last year (we believe it was May; we’re checking) as part of a $60 million venture capital round, has already yielded fruit. San Diego’s Diversa just bought the company for about $182.45 million. Cellulosic ethanol is a process that uses non-food plants and other waste to make ethanol, and it is much more efficient, and thus better for the environment, than regular corn-based ethanol.

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