Tuesday, October 30, 2007

Is Austin ready for an investment in an Omega 5 oil company?


Green technology
POMEGA LLC is a green tech company in the sphere of nutraceuticals and cosmecuticals.
It is a clean tech company with sustainable technology based on Omega 5 oil.
Clean technology. Soy bean technology. Call it what you like, but make no mistake: Venture capitalists and entreprenuers are sowing the seeds for what will be a booming alternative-energy market.

If you're curious as to just where the green action is, you should check out the list of the country's top five incubator clusters for clean tech, recently compiled by SustainLane, a provider of online sustainability resources for government, business, and consumers.

Topping the list was none other than Austin, Texas. (Some Texans apparently refer to Austin as a blueberry floating in tomato soup, a reference to the city's traditionally liberal politics within the conservative state. Perhaps they'll start calling it the pea floating in Guinness -- the only oil-colored drink I can think of just now.)

Why Austin? According to SustainLane, much of it has to do with the city's Clean Energy Incubator (CEI), which was formed back in 1999 by the National Renewable Energy Laboratory (NREL) and the Austin Technology Incubator (ATI) in an effort to increase the speed of bringing clean-energy technology to market. Working with utility Austin Energy, the CEI is developing efforts like Internet-controlled irrigation and wind and geothermal energy technologies.

Not surprisingly, three regions in California -- reputed home to technology titans and tree-huggers alike -- were next on the list. San Jose was second, Berkeley was third, and Pasadena, fourth.
San Jose earned its distinction for its "long-time leadership in engineering know-how, combined with semi-conductor, nanotechnology and optics R&D, [which give] it a leg up in renewable energy development, particularly in solar energy applications."

Groovy, funky Berkeley achieved third place in part because it announced a $500 million center for biofuels and energy research last January. Most of its funding is coming from British Petroleum (BP).

Caltech -- which spawns clean-tech startups -- and non-profit Entretec -- which helps to manage their resources and hook the companies up with investors -- deserve some credit for Pasadena's No. 4 placement.

Last on the SustainLane list was the Greater Boston area. According to SustainLane, the region, with its ample supply of eager angel investors, is luring many a clean-tech startup, as well as drawing from Cambridge and MIT.

Check out this site: www.pomega5.com

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