Jul 08 2008

Cleantech Venture Investment Sets Record in Q2

Venture investments in "clean technology" companies reached a record $2 billion in the second quarter, paced by investments in solar technologies and second-generation biofuels, according to a report out today from Cleantech Group LLC. Investments jumped 58 percent from the second quarter last year and 48 percent from the first quarter this year. The previous record was the 2007 third quarter at $1.8 billion.

The latest quarter's growth in cleantech investments by venture capital firms, investment banks and other investors contrasts with a projected decline in overall venture investments during the same period, the company said.

Solar-thermal companies including eSolar, BrightSource Energy, SkyFuel, Infinia and Sopogy raised a total of $278 million in venture capital in the second quarter.

Second-generation biofuel companies such as Range Fuels, Sapphire Energy, EdeniQ, Mascoma, Aurora BioFuels, Gevo, Fulcrum Bioenergy, Greenline Industries, GreenFuel Technologies and Amyris Biotechnologies raised $280 million in venture investment in the period. Of the total, $136 million went to cellulosic ethanol startups and $84 million in algae biomass startups.

"For the first time, algae companies are attracting large, follow-on investment rounds--a trend we expect to continue into the second half of the year," said Brian Fan, senior director of research for the Cleantech Group. "This breakout quarter for solar thermal and algae companies indicates a growing appetite for clean technologies that can replace coal for electricity generation and oil for transportation fuels."

U.S. companies took 74 percent of the investments, Europe 13 percent, and China and India 12 percent. The leading venture investors were Kleiner Perkins Caulfied & Byers, Foundation Capital, Quercus Trust, Khosla Ventures, and Draper Fisher Jurvetson.

Posted by: Leonard Anderson | Comments (0) digg delicioussend to a friendprint entry

 

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Biofuels , Energy , Partners , Solar

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