This VC Is On To Something

“…Cleantech companies just can’t seem to get it right.  At least, that’s the notion Peter Thiel — a co-founder of PayPal and president of Clarium Capital — subscribes to when he looks at cleantech companies as potential investing opportunities. He made the comments at a Commonwealth Club event in San Francisco Wednesday.

“ ‘ …Most of the people who run cleantech companies are sales people, not engineers,” Thiel said. “Something seems to have gone quite wrong with cleantech.’

“…As a result, most cleantech companies that try to develop alternative energy forms are building power sources that are more  expensive. Solar panels, for example, are still not a cost-efficient way to generate power, Thiel said.  ‘We need something cheaper, not more expensive,’ he said. ‘It doesn’t matter if the energy is cleaner, it doesn’t work if it’s more expensive.’ ” — Matthew Lynley, VentureBeat, 3 Feb 2011

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