New quarterly record reached in cleantech VC funding


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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 28, 2024
Seattle, USA
Solar Media Events, Industry Events
March 12, 2024
Frankfurt, Germany
Upcoming Webinars
March 13, 2024
9am EDT / 1pm GMT / 2pm CET
Solar Media Events
March 19, 2024
Texas, USA

Chinese New Year—Secure an unmissable saving of 50% on PV Tech Premium

Empower your solar business throughout 2024

Ends Friday, 23rd Feb 2024. New users only.