As the worldwide demand for energy increases, and oil prices rise, many venture capital firms have begun to focus on the alternative energy sector.

In fact, in June 2005, Pasadena, CA-based solar company, Energy Innovations, raised $16.5 million in venture capital led by Mohr Davidow Ventures. At around the same time, Nanosolar raised $20 million (also led by Mohr Davidow Ventures), solar startup HelioVolt, based in Austin, TX, secured an $8 million investment from New Enterprise Associates, and Kleiner, Perkins, Caufield & Byers led a $16 million investment in Miasol