One of the better bits of fallout from recent energy troubles in California is the implementation of the California Clean Energy Fund, a $30 million investment fund to seed new companies focusing on clean renewable energy production. Profits from the investments would be fed back into the fund, which would otherwise operate as a non-profit organization. Three leading venture capital groups -- Nth Power, Draper Fisher Jurvetson and VantagePoint Venture Partners -- will manage the investments. More details at the SF Chronicle and Businesswire.

(Via GCC and Ken Novak)