Super VC Vinod Khosla bankrolling California Alternative Energy Initiative
Mercury News: Vinod Khosla (Wikipedia: Vinod Khosla is a venture capitalist considered one of the most successful and influential personalities in Silicon Valley. He was one of the co-founders of Sun Microsystems and became a general partner of the venture capital firm Kleiner, Perkins, Caufield & Byers in 1986) is bankrolling a initiative to tax oil producers and subsidize alternative energy in California. The November initiative, if voted on by California voters, could generate $4 billion for projects intended to reduce the state’s dependence on oil by 25 percent within a decade. Initiative backers are currently gathering signatures and they will need more than 500,000 to just make it to the ballot. Moreover, Khosla has already spent more than $1 Million to support the initiative.
Billionaire Khosla is a big supporter of Ethanol and in particular cellulosic Ethanol. Of course, just like Bill Gates, via Pacific Ethanol (Nasdaq: PEIX) Khosla also has investments in the Ethanol industry. If and it?s a big if, California voters approve the initiative it could revolutionize the Ethanol industry in the biggest market of all.
This is exactly why I had Pacific Ethanol Inc. (Nasdaq: PEIX) on my recommendation list until they surprised us all on Friday. More about that here. They might be back on the recommendation list soon if they can figure out how to file there annual report on time and finalize the contract with Bill Gates Cascade Investment, LLC for funding. More on that in my next article.
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