The following is the translation of an article that appeared in the November issue of the monthly environmental magazine “Dagens Miljö

The following is the translation of an article that appeared in the November issue of the monthly environmental magazine “Dagens Miljö.”  It was the result of an interview that Ambassador Michael Wood gave to Editor-in-chief Valter Bengtsson on October 19, 2006.

38 Billion Dollars May Find Swedish Entrepreneurs – The U.S. is looking for companies in the energy sector.

Alternative energy became a priority at the American Embassy in Stockholm after Ambassador Michael Wood was installed five months ago. The Embassy is now on the lookout for Swedish innovators and entrepreneurs in the energy sector to match them up with the huge new energy funds that have 38 billion dollars available.

“The Embassy wants to make possible technological cooperation between the U.S. and Sweden that will result in a breakthrough in alternative energy ,” Ambassador Michael Wood said.  “How then to do this?  Not by being scientists, but hopefully by being a matchmaker. We will help by arranging conferences and trade fairs that will bring together business incubators  and entrepreneurs in Sweden that need funding,”

In addition to the new funds for alternative energy, there are funds available at the DARPA Agency at the U.S. Department of Defense, which commissions advanced research on future weapons systems.  “The U.S. military has great interest in cheaper and more reliable energy sources and is interested in stimulating development of these. DARPA grants money to researchers and entrepreneurs worldwide who are working on alternative energy projects.

How many Swedish entrepreneurs do you hope to match with American funds?

“I would guess that there are 50-100 companies of importance that are working with alternative energy. We want to support as many as possible of them. We quite naturally will not be able to take on 100 percent of them but if we can match 30 companies with incubators I will be satisfied.”

The Embassy’s focus on energy is the result of an intense analysis that Michael Wood did during his first few months as Ambassador to Sweden. He listed 50 important issues that he wanted to focus on and then cut the list -- first to ten and then to three, and ultimately with the help of President George W. Bush, he picked energy as number one.

“I wanted one big thing for me and the Embassy to focus on. In the end we chose between promoting NATO membership for Sweden, increased cooperation on world democratization, and alternative energy.  Ninety percent of those I asked picked energy,” said Michael Wood, who during the process asked the advice not only of President Bush but also of Swedes such as Carl Bildt, Jan Eliasson, and Wallenberg.