TechNet Asserts Innovation and Green Tech Central Component to America's Economic Recovery

WASHINGTON, July 2 /PRNewswire-USNewswire/ -- TechNet, the bipartisan political network of CEOs that promotes the growth of the innovation economy, today reiterated its support for President Obama's call for innovation and cutting-edge, green technologies to be at the forefront of efforts to turn the U.S. economy around.

TechNet Policy Board Member Michael Splinter, President and CEO of Applied Materials, attended today's meeting with President Obama. The President met with a group of eight CEOs, including Mr. Splinter, to discuss ongoing economic recovery efforts. In his comments at the meeting and in the Rose Garden afterwards, the President underscored the essential role that the emerging clean tech sector will play in the nation's economic recovery. Applied Materials is a leader in nanomanufacturing technology solutions with a broad portfolio of innovative equipment and software products for the fabrication of semiconductor chips, flat panel displays, solar photovoltaic cells, flexible electronics and energy efficient glass. Last year, Applied Materials installed a 2 megawatt solar power system at its main campus inSunnyvale, California, which is one of the largest corporate solar power installations inthe United States.

"TechNet strongly believes America's economic recovery is directly related to how fast we spur innovation, including innovation in green technology," said Jim Hawley, Acting CEO of TechNet. "It is essential for our policy leaders to continue do all they can to foster our country's leadership in green innovation. Smart investments in modernizing the electricity grid, developing clean energy and using energy more efficiently will all play a critical role in fostering job growth. The fact is that energy efficiency investments in our nation produce approximately three dollars in economic benefit for every one dollar invested. If we act to spur cutting edge green energy discoveries, we can create hundreds of thousands of high wage jobs while at the same time reducing carbon emissions, U.S. dependence on foreign fossil fuels and rising energy prices."

For the past four years, TechNet has promoted policies to spur green innovation, fostered by visionary entrepreneurship, as a key driver to address the nation's energy, economic and environmental challenges. TechNet and its member companies believe that cutting edge innovation and smart deployment of clean energy technologies can reduce costs for consumers over the long run, reduce greenhouse gas emissions and provide the foundation for robust economic growth in the future.

About TechNet:

TechNet is the national, bipartisan network of CEOs that promotes the growth of technology industries and the economy by building long-term relationships between technology leaders and policymakers and by advocating a targeted policy agenda. TechNet's members represent more than one million employees in the fields of information technology, biotechnology, e-commerce and finance. TechNet has offices inWashington, DC,Palo Alto,Sacramento,Seattle,Boston,Austin, and Orange County (California). Web address: www.technet.org.

SOURCE TechNet

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