U.S. VC cleantech investment tops $1.14 billion in Q1 2011

[one...two...tree 2,762]

United States venture capital investment in cleantech companies topped $1.14 billion in the first quarter of 2011, a 54 percent increase from $743.3 million invested during the same time a year ago. The growth comes despite a 13 percent decrease in deals, year-over-year, according to Ernst & Young.

"The second generation of solar companies and larger, later stage rounds dominated VC investor interest in Q1," Ernst & Young's Jay Spencer said in a statement.

The top 10 deals in 1Q11 totaled $683.1 million, about 60 percent of the total raised for the quarter.

So who were the winners? Solar, for one. Investments in energy and electricity generation raised $450.3 million in 16 deals during the quarter, with solar accounting for 39 percent of the total dollars raised — a 162 percent gain, year over year.

(Highlights: MiaSole's $106 million round, Alta Devices' $72 million round.)

Energy storage was also hot, up a staggering 671 percent year over year, with $262.4 million raised through 14 deals. Battery companies took in $121 million (1Q10: $8 million), and fuel cell companies took in $106 million, a 308 percent increase from the same quarter a year ago.

(Highlights: Bloom Energy's $100 million round.)

More highlights and lowlights:

• The products and services segment atrophied a bit, attracting $161.86 million, a 27 percent decrease from Q1 2010. Highlights: Myriant Technologies' $60 million round.
• The alternative fuels segment, raised $160 million, led by biofuels companies.
• The energy efficiency sector raised $95 million, down 49 percent year over year.

Overall, later stage investments attracted the most capital, representing 67 percent of the total quarterly investment, an increase from the same time last year. That's not to say first rounds are having trouble, however: investment here also increased, by 77 percent to $146.1 million.

As you might expect, California led the way with 56 percent of total dollars and a 41 percent increase year over year. (Interestingly, it was northern, not southern, California with the winnings, attracting 79 percent of dollars invested in the state.)

But companies in the American Southeast and New England also fared well, garnering $150.2 million (a 6159 percent increase year over year) and $174.23 million (a 193 percent increase) respectively.

Finally, a review of major headlines in the quarter:

• GE, ConocoPhilips, and NRG formed Energy Technology Ventures, a joint venture that will invest $300 million in early-stage energy companies over four years.
• GE spent $520 million to acquire energy efficient equipment provider Lineage Power.
• Schneider Electric acquired a US-based energy procurement and sustainability services company Summit Energy for $268 million.
• Strong corporate investment in Innovalight and Motech's partnership to develop solar cells using silicon ink.
• Citigroup and SolarCity set up a $40 million fund for solar power projects.
• Biofuel producer Solazyme filed a $100 million IPO in March 2011.
• Biofuel producer Gevo raised $107 million through a February 2011 IPO.
• Fifteen U.S. mergers and acquisitions were completed, with a value of $206 million. The top deal: LDK Solar acquiring a 70 percent stage in Solar Power for $29 million.

http://www.smartplan...n-q1-2011/15978

[Vi-Jay 218]

Pssssst.

UBL is dead!

[dalegg 143]

Pssssst.

UBL is dead!

The vigilance of cleaning up the environment can never rest.

[Ban Hammer 13,352]

The vigilance of cleaning up the environment can never rest.

funny then that they dumped him in the ocean. that musta been to give the hippies a heart attack.