New quarterly record reached in cleantech VC funding

July 9, 2008
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

December 3, 2025
The US Department of Energy (DOE) has renamed the National Renewable Energy Laboratory (NREL) the National Laboratory of the Rockies.
December 3, 2025
The Australian Renewable Energy Agency (ARENA) has announced up to AU$151 million (US$98 million) in conditional funding for Sunman Energy to establish a 500MW per annum solar module manufacturing facility in the Hunter Valley, New South Wales (NSW).
December 2, 2025
Sunsure Energy has signed a long-term power purchase agreement (PPA) with Indian drinking water brand Bisleri International.
December 2, 2025
Swiss electrification specialist ABB has acquired solar PV inverter and power conversion system (PCS) producer Gamesa Electric for an undisclosed sum.
December 2, 2025
Astronergy and JA Solar have 'reached an agreement on cross-licencing' of tunnel oxide passivated contact (TOPCon) patents moving forward.
December 2, 2025
Australia's NEM faces a fundamental transformation as solar PV generation and BESS drive the transition to a low-emissions energy system.

Upcoming Events

Upcoming Webinars
December 4, 2025
2pm GMT / 3pm CET
Upcoming Webinars
December 17, 2025
2pm GMT / 3pm CET
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 24, 2026
Dallas, Texas
Solar Media Events
April 15, 2026
Milan, Italy