It looks like we might be past the bottom in cleantech venture investment.
The Cleantech Group is reporting 92 companies around the world received $1.2 billion in the second quarter, a 12% growth from the first quarter. Sounds great, but compared to 2008, venture investment is down 44%. So, let’s not get too excited.
Here’s how the data breaks out:
- VEHICLES – $236 million Deals included San Diego startup V-Vehicle’s raise of $100 million to date from Kleiner Perkins Caufield & Byers and T. Boone Pickens to build a fuel-efficient car in Louisiana, EV manufacturer Fisker Automotive, which raised $85 million from Eco-Drive Partners and Kleiner Perkins to fund development and manufacturing of its Karma plug-in hybrid, Norwegian EV startup Think Global which raised $39 million, and Israel’s ETV Motors which raised $12 million from Quercus Trust to develop an electric powertrain.
- BIOFUELS – $206 million Deals included agri.capital, a European developer of biogas plants, which raised $82 million from TCW Group and others and renewable oil producer Solazyme, which raised $57 million from Braemar Energy Ventures, Lightspeed Venture Partners and new investor VantagePoint Venture Partners.
- ADVANCED BATTERIES – $165 million Deals included lithium-ion startup A123, which raised a $100 million round led by GE and others, and Deeya Energy, which raised $30 million from Technology Partners and others to develop its redox flow batteries.
- SOLAR – $114 million Deals included Indian solar developer Cobol Technologies, which raised $30 million from Pangea Capital, as well as CSP technology provider Ausra, which raised $25.5 million from Khosla Ventures and Kleiner Perkins, among others. Another CSP company, Stirling-engine dish vendor Infinia, raised $14.1 million in convertible debt, as part of a $50 million planned raise.
And here’s who’s handing out the money:
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