New quarterly record reached in cleantech VC funding

Facebook
Twitter
LinkedIn
Reddit
Email

According
to the latest figures compiled by The Cleantech Group, venture capital
invested in most types of clean energy markets reached a new record
amount for the second quarter of 2008 at $2 billion, surpassing the
previous record of $1.8 billion set in the third quarter of 2007.

“Interest in cleantech continues to show robust growth, despite the impact of economic headwinds and continued credit market constraints,” said John Balbach, Managing Partner, Cleantech Group, LLC. “The combination of a strengthening pipeline of promising new innovations, steady progress in scaling growth-stage companies and improving demand-side pull are leaning towards 2008 outperforming the banner 2007 record performance.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The solar sector didn’t lose out either. The Cleantech Group reported that the solar thermal sector was particularly active with eSolar, BrightSource Energy, SkyFuel, Infinia and Sopogy raising a total of $278 million in venture capital in 2Q08.

Combined with the $100 million acquisition of Stirling Energy Systems by NTR plc and the $165 million in venture capital raised by Solel, Infinia and eSolar in 1Q08, solar thermal companies have raised $543 million so far this year.

Read Next

Premium
September 11, 2026
The financial difficulties of one of Europe’s best-known downstream solar companies highlight the faultlines running through the continent’s PV and energy storage business.
September 11, 2026
Plans for the US’ “first end-to-end” solar PV critical materials recovery and recycling facility have been announced.
September 11, 2026
This week's PV Chart of the Week profiles the technology breakdown of projected US solar module production capacity.
Premium
September 11, 2026
PV Talk: PERC has the potential to be a “workhorse” in the US cell manufacturing space, Suniva's Matt Card tells PV Tech Premium.
September 11, 2026
Italian power utility Enel has bought two solar PV projects in the US with a combined 625MW of generation capacity.
September 11, 2026
Georgia Power has secured Georgia Public Service Commission (PSC) approval for seven solar PPAs totalling 1,137MW under its CARES programmes.

Upcoming Events

Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain
Solar Media Events
November 24, 2026
Warsaw, Poland
Solar Media Events
February 2, 2027
London, UK