Richard Branson has announced a $3bn investment in biofuels in an effort to fight climate change.
The investment will be made through a new venture, Virgin Fuels. The man is a genius, he can’t lose!
The State of California has just launched a law suit against major car companies over climate change and the oil market is volatile, not to say finite. Biofuels are a renewable source of energy and can be grown by or for the company that produces it. Biofuel is cheaper than oil-based products and cleaner to make. A large percentage of the Virgin empire is transport-related and cheap fuel will improve the profitability of those businesses. On top of that, I expect that Virgin Fuels will retain the patent on new technologies they develop meaning that they can rake the cash in from selling the technology to other people.
For a dyslexic Noel-Edmonds lookalike he’s not to shabby when it comes to business.