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

April 7, 2026
Federal permitting delays have held up 11GW of new renewable energy deployment in the US in the last year alone, according to Crux.
April 7, 2026
The PPC Group has completed construction of a 2.13GW solar PV portfolio in Greece, which it described as the "largest" cluster in Europe.
April 7, 2026
Sangam Solar One, a subsidiary of Indian solar PV manufacturer Waaree Energies, has commissioned a 3GW PV module manufacturing facility in Samakhiali, Kutch, Gujarat.
April 7, 2026
US independent power producer (IPP) Geronimo Power has begun operations at a 117MW solar PV project in Ohio.
April 7, 2026
According to Ember, solar-plus-storage could supply up to 90% of India’s electricity demand at a levelised cost of electricity (LCOE) of INR5.06/kWh (US$56/MWh).
April 7, 2026
South Korea has announced plans to almost triple its operational renewable energy capacity from 37GW today to 100GW by the end of the decade.

Upcoming Events

Solar Media Events
April 15, 2026
Milan, Italy
Solar Media Events
June 16, 2026
Napa, USA
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