Businesses in the US are giving the Government a run for its money according to the National Venture Capital Association.

Tech Journal South reports that companies, including Google, are staking huge sums of cash into alternative energy research.

CleanTech investments by US venture capital firms reached a record-breaking $2.6 billion from 168 deals in the first three quarters of 2007, according to data from Thomson Financial and the National Venture Capital Association.

NVCA president, Mark Heesen expressed a cautious optimism regarding the CleanTech space, saying, “There are major opportunities for venture capitalists to totally reshape the energy market throughout the world as governments, consumers, and companies are demanding innovation in this space.”