1Q Clean-Tech Venture Capital Investment Up 83% Vs '09 -Study
March 31 2010 - 12:36PM
Dow Jones News
Venture capitalists invested $1.9 billion globally in renewable
energy and other clean technology companies in the first quarter of
2010, up 83% over the same quarter last year, the Cleantech Group
and Deloitte said Wednesday.
A total of 165 venture capital deals were completed in the first
quarter, a new quarterly record, the firms said. The total amount
raised was up 29% over the fourth quarter of 2009, they said.
Transportation companies booked the highest level of investment,
with 27 deals done for a total of $704 million, according to
Cleantech Group and Deloitte. California electric-vehicle equipment
company Better Place snagged $350 million, the largest round, led
by HSBC Holdings Plc (HBC) and including Morgan Stanley's (MS)
Investment Management and Principal Investments units, Lazard
Ltd.'s (LAZ) Asset Management unit, Israel Corp. Ltd. (IRLCF,
ILCO.TV), VantagePoint Venture Partners, Ofer Hi-Tech Holdings and
Maniv Energy Capital.
Solar power companies attracted the second-highest level of
investment, bagging $322 million in 27 deals. The largest round
yielded $41.4 million for Oregon crystalline silicon solar cell
maker SpectraWatt, with Cogentrix Energy, Intel Capital and PCG
Clean Energy & Technology Fund participating.
North America accounted for 81% of total clean-tech venture
capital investment, a three-year high for the region, while Europe
and Israel accounted for 14%, China for 4%, and India 1%.
In addition to the venture-capital investment, 13
clean-technology companies went public in the first quarter,
raising a total of $1.5 billion, down from 18 IPOs in the fourth
quarter of 2004 that totalled $2.9 billion. Eight of the
first-quarter offerings were by Chinese companies and three were
from North America. The largest clean-tech IPO in the quarter was
held by Dutch sensor and control technology maker Sensata
Technologies Holding NV (ST), which raised $569 million from its
offering on the New York Stock Exchange, Cleantech Group and
Deloitte said.
-By Cassandra Sweet, Dow Jones Newswires; 415-439-6468;
cassandra.sweet@dowjones.com
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