Can the solar system drop it like it’s hot?
Venture capitalists keep putting more green into green technology.
In 2007, venture investors globally backed 221 companies developing so-called clean technologies with $3 billion, according to data released from Dow Jones VentureSource, up from $2.1 billion invested in 173 deals in 2006. VentureSource is owned by Dow Jones & Co., the publisher of this newsletter.
The U.S. led all geographic regions in venture investing in the category, according to the data, accounting for 83% of global investment in 2007.
Venture investors remain bullish on the sector, despite some rumblings in the industry that there may be a cleantech bubble that formed in the last year.
“[Cleantech] is going into very diverse markets that are enormous and can sustain a tremendous amount of capital and new technology,” said Michael Bevan, managing director of Radnor, Pa.-based cleantech venture firm Element Partners.
Already, venture investors are turning to other markets where new innovations can help reduce energy consumption and increase efficiency and sustainability. Bevan pointed to green buildings as a coming investment trend.
“Buildings account for 33% of all carbon dioxide emissions worldwide,” Bevan said.
From Dow Jones VentureWire Alert
Cleantech Venture Network projects this number to increase to 10 billion by year 2009!
http://www.emediawire.com/releases/2005/10/emw301888.htm