Biofuel Startups Attract Support from Venture Capital Firms
NEW YORK --- In the first three quarters of 2006, venture capital firms invested $536 million in biofuel and other energy ventures, according to Gannett News Service. That's compared to the $224 million such firms invested in all four quarters of 2005.Many venture capital firms are returning to the energy sector, focusing on renewable sources. Political shifts are helping to spur this interest, Gannett's report said. President Bush helped set the stage last year when he said that Americans are addicted to oil and measures need to be taken to reduce dependence on oil imports.