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

August 11, 2026
US solar module manufacturer SEG Solar inaugurates 4GW Texas module plant, taking total US manufacturing capacity to 6GW annually.
August 11, 2026
Danish energy infrastructure investor Copenhagen Infrastructure Partners (CIP) has reached final investment decision and financial close of the 420MW solar-plus-storage La Esperanza Solar project in Mexico.
August 11, 2026
Chinese solar tracker manufacturer Arctech has secured 425MW of utility-scale solar tracker projects across Kyrgyzstan and Kazakhstan.
August 11, 2026
European Energy has secured finance for a renewable energy project in the UK that combines 68MW of solar PV capacity and a 47.5MW/95MWh BESS.
August 11, 2026
The Italian Ministry of Environment and Energy Security has approved the operating rules for the FER X decree with a 10GW allocation to solar PV.
August 11, 2026
EC has approved a €84 million (US$96.9 million) Danish state aid scheme to support investments in clean technology manufacturing capacity.

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
Solar Media Events
April 20, 2027
Istanbul, Türkiye