Former Vice President Al Gore to Join Private Equity Firm
MENLO PARK, CA - Ex-Vice President and environmental activist Al Gore is about to join the board of U.S. private equity firm Kleiner, Perkins, Caulfield and Byers as a partner. The firm has a with a history of supporting "green technology". Kleiner, which was set up in 1972, plans to devote about a third of its funding towards clean technology by 2009. Gore will donate his salary from Kleiner to the environmental foundation, the Alliance of Climate Protection, which he chairs.
Gore is already heavily involved in supporting energy technology solutions through his investment fund Generation Investment Management (GIM). Recently, he was awarded the Nobel Peace Prize last month for his work as a climate change campaigner. GIM is forming an alliance with Kleiner to discover and fund businesses with the "greatest potential" to tackle the threat of climate change, the two firms said.
"We have a working understanding of this urgent, multi-dimensional challenge and are resolved to help business and government leaders accelerate the development of sustainable solutions," Gore said. In his new role, Gore will concentrate on supporting businesses focused on reducing carbon dioxide emissions He will lead investments in alternative energy sources and firms involved in areas such as recycling, alternative fuel and water purification.
(Source: BBC News)
