Published on April 3rd, 2010 | by Zachary Shahan1
Clean Tech Investments Soaring in 2010
April 3rd, 2010 by Zachary Shahan
Worldwide, investors put $1.9 billion into clean tech startups in the first three months of 2010. That is an 83% increase from the same quarter last year and a 29% increase from the fourth quarter of 2009. Additionally, the number of deals hit a record high.
This is what a new report from Cleantech Group and Deloitte shows.
Sheeraz Haji, president of Cleantech Group, says: “The bounce back in venture investment from lows in early 2009 has continued, with the first three months of 2010 representing the strongest start to a year we have ever recorded.”
The results come from a survey of investments made in 180 companies from North America, Europe, Israel, India, and China.
Electric car-related startups and solar technology startups received the most investment.
$704 million went to electric car-related startups, half of which went to one company — Better Place. Better Place is a Silicon Valley company that has signed contracts to build electric car charging stations and other infrastructure in Australia, California, Canada, Denmark, Hawaii and Israel.
Another $170 million is going to two electric car production companies in California — Fisker Automotive ($140 million) and Coda Automotive ($30 million).
$322 million was invested in solar startups. SpectraWatt, an Intel spinoff that makes solar cells, received $41.4 million and Enphase Energy, a company that makes microinverters for solar panel systems, received $40 million.
Energy efficiency startups, especially efficient lighting companies, received the third most in investments — $217 million in total.
The US accounted for 81% of 2010 first quarter investments (an increase of 133% from the first quarter of last year), followed by Europe (14%), China (4%) and India (1%).
Image Credit: Fisker Automotive via flickr under a CC license