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Article: Critics say Gore set to reap greenbacks from green backing ; Former VP proud of investments in clean tech
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- November 3, 2009
- Author:
CopyrightCopyright 2009 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON - Al Gore thought he had spotted a winner last year
when a small California firm sought financing for an energy-saving
technology from the venture capital firm where the former vice
president is a partner.
The company, Silver Spring Networks, produces hardware and
software to make the electricity grid more efficient. It came to
Gore's firm, Kleiner Perkins Caufield & Byers, one of Silicon
Valley's top venture capital providers, looking for $75 million to
expand its partnerships with utilities seeking to install millions
of so-called smart meters in homes and businesses.
Gore and his partners decided to back the company, and in
gratitude Silver Spring retained him and John Doerr, ...