The philanthropic wing of Google is coming soon, get your grant-writing pens at the ready:

The foundation’s aims are to use the power of information and technology to address global challenges: climate change, poverty and emergent diseases. Google is working with partners in each of these fields and investing resources as well as tapping its employees’ strengths to advance five major initiatives:

  1. Develop Renewable Energy Cheaper Than Coal (RE)
  2. Accelerate the Commercialization of Plug-In Vehicles (RechargeIT)
  3. Predict and Prevent
  4. Inform and Empower to Improve Public Services
  5. Fuel the Growth of Small and Medium-Sized Enterprises (SMEs)

Google’s commitment amounts to 1% (as cited in 2004, when Google founders Larry Page and Sergey Brin wrote to prospective shareholders about their vision for the company) of equity and profits. As of January 2008, has committed over US$75 million in grants and investments aimed at the five projects listed above.