Photo: spanginator via flickr
There was some venture capital activity in the cleantech/green energy sector in the third quarter of 2011.Energy storage led the way in what turned out to be a $2.23 bn quarter for venture capital in this space. Let’s take a look at the details:1. Capital raised: The ‘energy storage’ sector was the top-grosser in the quarter, raking in $514 mn in venture capital and leading the second-largest grossing sector, solar, by a wide margin (solar had $350 mn in proceeds). Boston-Power was good for $125 mn of the energy storage total.
2. Skewed results: the reason for the rise of the energy storage sector in Q3 2011 was the inclusion of fuel cell companies in it. Bloom Energy raised $150 mn, and ClearEdge Power pulled in $73.5 mn in venture capital money. Pull them out of the running, and the energy storage sector only raised $290 mn.
3. Panels and cells: in the solar sector, venture capital money found its way to solar panel and cell manufacturers, including HelioVolt, despite the ‘backlash surrounding the Solyndra debacle’, according to greentechmedia.
4. Follow the leader: when it comes to cleantech venture capital investing, the US retains its lead, putting $1.66 bn into deals in this sector. The UK followed at $184 mn, followed by India at $165 mn and China at $138 mn.
5. Less M&A: only $11.81 bn in cleantech mergers and acquisitions occurred in the third quarter, down from $13 bn in the second quarter of 2011.