Some interesting data on global venture capital investment in clean technology out today from Dow Jones VentureSource.
First, the U.S. is finally starting to play catch-up to Europe, where alternative energy has long been more of a priority than the States. Investing in cleantech firms in the U.S. accounted for $2.5 billion, or 83% of the $3.1 billion invested worldwide in the sector in 2007. That money was spread out among 159 companies, with the largest single deal for $200 million going to Project Better Place, which is developing recharging stations for electric vehicles. Interestingly, Project Better Place recently announced that its first partnerships were with a foreign country, Israel, and a foreign carmaker, Renault-Nissan, so maybe we still have a ways to go before catching up to everyone else.
Investments in Europe also reached a record, with $360 million invested in 56 deals, a 27% increase in capital investment over 2006. Think Global AS of Norway, which makes an electric car (right) took in the largest investment, with a $67 million Series B round.
But not all the numbers are upbeat. The report shows that China, which these days is using record amounts of fuel, saw a drop in cleantech investments, with $129 million invested in six companies, compared with $424 million in 2006. China did see four venture-backed cleantech companies complete initial public offerings in 2007, generating $821 million in liquidity.
Finally, it's worth noting the report concludes that even with such strong investor interest in clean technology companies, so far there has not been a big run-up in deal sizes and valuations, two warning signs of frothiness. - David Shabelman
See Feb. 14 post from Tech Confidential
See 2007 story from Tech Confidential
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