Investment in Renewables $3.4 Billion in 2007

Greentech Media, Inc. has released data on venture capital (VC) investment in renewable energy. The data shows that investment reached $3.4 billion in 2007. Investment in solar was more than $1.05 billion in more than 70 financing rounds. Investment in battery technology came to $433.9 Million and the energy efficiency/smart grid sector received $419.1 million in investments.

According to Greentech, venture firms also continue to invest in biofuels such as cellulosic ethanol and biodiesel, with more than $750 Million directed towards these new feedstocks and technologies. Notable alternative energy VC funding rounds in 2007 included HelioVolt’s $101M for thin film photovoltaics, Great Point’s $100M for coal gasification, Amyris’ $70M for synthetic biology and biofuels, and A123’s $70M for innovative battery technology.

“VC investment in renewable energy in 2007 was up 50% over the previous year with more than 220 funding rounds across the entire spectrum of renewable energy – from solar to batteries to energy efficiency,” said Eric Wesoff, senior analyst at Greentech Media. “Investors are looking for 2008-2010 to be the years of renewable energy exits.”
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