Alison Pruitt this morning wrote in Solar Feeds about an Ernst & Young report on increase of US venture capital (VC) investment in cleantech companies increased 46% from 2Q to 3Q in 2009.
The total amount invested was $965 million, according to an Ernst & Young LLP analysis based on data from Dow Jones VentureSource. This is the second consecutive quarter of growth in 2009 and the fifth-largest quarterly investment total on record. Compared to the first quarter of 2009, quarterly capital investment has increased a whopping 182%.
The majority of investment dollars - 61% - was directed to companies that are currently shipping products, as opposed to companies that are in the research and development phase. The energy/electricity generation category received the largest amount of investment with $316 million or 33% of the total cleantech investing. Solar technologies garnered the majority of investment in this category, raising $309 million, a quarterly increase of 115%. The alternative fuels category, consisting entirely of biofuels deals, grew by 58% to $71 million.
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