Investor Confidence in Cleantech Grows

The Cleantech Network announced that investor momentum in clean technologies reached an all-time high as venture capitalists in North America and Europe invested a record $1.74 billion in the third quarter.

This brings the year-to-date level of investment in cleantech to $3.64 billion, a 13% increase over the same period in 2006.

The Energy Generation segment continues to lead other segments within the cleantech category with $1.2 billion invested in Q307. Of the $1.2 billion, $901 million was invested by North American VCs, a 106% increase over Q2 2007 and 52% increase over Q3 2006. European VCs invested $315 million, showing a 222% increase over Q2 and 31% decrease compared to Q306, which included the $395 million Airtricity deal.

The two leading segments within Energy Generation, solar and biofuels, continue to climb. Solar investment reached $410 million in North America, a 16% increase over Q2, and $246 million in Europe compared to the $15 million invested in Q207. Biofuels companies raised $215 million in North America and $16 million in Europe.

This quarter also marks a new record for cleantech in Canada, with the country investing $109M. The total amount in Q307 for Canada was 85 percent higher than the entire first half of 2007.

“The combination of a rapidly improving pipeline of venture grade deals, favorable public policy trends and growing consumer awareness of climate change continue to point to a positive outlook for the future growth of clean technologies,” said Nicholas Parker, Chairman and Co-founder of the Cleantech Group, parent company of the Cleantech Network.


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