There is an interesting article out of MIT, about a new tiny, quick sensor.
Note to VC Funds interested in alternative energy because it's such an obvious thing: the field is competitive, there are many paths that are going to dead-end, and it's highly interactive with regulatory forces.
Wanna diversify? You should be investing in filtering and sensing technology. Control of microstructure as well as the creation of new types of advanced materials will make these the must-have consumer products of the (20)10's.