Soros to Pour $1B into Clean Energy Technology

By Camille Ricketts on October 12, 2009

George Soros, famed currency speculator and Democratic party-backer, announced during a speech (aptly in Denmark, where Copenhagen will host the largest climate summit in years in December) that he will be sinking $1 billion into the development of clean energy development. On top of that, he will contribute $100 million ($10 million every year for the next decade), to support a new foundation creating relevant policies called the Climate Policy Initiative.

No further details were given on the types of technologies or companies the $1 billion will help finance. Soros said only that contenders will go through a rigorous evaluation process to make sure they are feasible and able to scale.

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