Follow the Green Money: Khosla Ventures Now $1.3 Billion to Invest in Green/Clean Tech, Tesla Approved for $465 Million DOE Loan, 5 Smart Grid Companies Get a Total of $32.5 Million

Khosla Ventures, a clean tech venture capital fund, has increased the size of its fund from $1 billion to $1 billion 300 million.  This additional $300 million will be used to used to fund early start up companies that may not be able to get funding from other sources or are considered riskier investments.

Tesla Motors, maker of the all electric Tesla Roadster, has been approved by the Department of Energy for a $465 million loan to build a factory in Southern California to produce the model S, an all electric sedan.  The loan will also be used by Tesla to build a power train factory in Palo Alto, CA.  EnerDel, a subsidiary of Ener1, has announced plans to invest $237 million in leasing and equipping  a manufacturing plant in Indiana that will produce lithium-ion battery cells and packs for electric vehicles. 

Smart Grid venture capital funding is off to a good start for the new year, five US companies received a total of $32.5 million.  EcoBee raised $6.4 million, Ecofactor received $2.4 million, Ember raised $5 million, Tantalus Systems secured $14 million and Verdiem received $4.7 million.