New quarterly record reached in cleantech VC funding

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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.”

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.

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