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Venture Capital Investment in Renewable Energy Soars to $3.4 Billion in 2007

Posted on: Wednesday, 16 January 2008, 09:00 CST

According to newly released data from Greentech Media, Inc., venture capital investment in renewable energy reached an unprecedented level of $3.4 Billion in 2007. Investment in solar power led the VC charge with more than $1.05 Billion invested in more than 70 VC financing rounds. Also winning record amounts of renewable energy funding was investment in battery technology at $433.9 Million and in the energy efficiency/smart grid sector at $419.1 Million. Venture firms continue to invest in biofuels such as cellulosic ethanol and biodiesel, with more than $750 Million directed towards these new feedstocks and technologies.

"VC investment in renewable energy in 2007 was up 50% over the previous year with more than 220 funding rounds across the entire spectrum of renewable energy - from solar to batteries to energy efficiency," said Eric Wesoff, senior analyst at Greentech Media. He added, "Investors are looking for 2008-2010 to be the years of renewable energy exits."

"Cleantech and Renewable Energy continue to be attractive investments for venture capitalists," said Ira Ehrenpreis, a General Partner at Technology Partners. He added, "These figures from [The Venture Power Report] bear out our investment thesis that there is good business in Cleantech."

Notable alternative energy VC funding rounds in 2007 included HelioVolt's $101M for thin film photovoltaics, Great Point's $100M for coal gasification, Amyris' $70M for synthetic biology and biofuels, and A123's $70M for innovative battery technology.

Wesoff, author of the Venture Power Report, added, "We see these investment numbers staying steady through 2009 as investors continue to nurture their current portfolios and look for new opportunities."

More information about the Venture Power Report can be found at the Greentech Media website:

http://www.greentechmedia.com/research-venture-power.html.

About Greentech Media

Greentech Media is an integrated online media company designed to deliver the highest-quality content in the industry, whether it is research, news or critical networking events. Greentech Media is headquartered in Cambridge, Mass., New England's educational- and technology-innovation center, with operations in New York City and San Francisco. For more information, visit http://www.greentechmedia.com.

About The Venture Power Report:

Published by Greentech Media, the Venture Power Report covers renewable energy and clean power with a focus on venture capital investment, technology commercialization, and start-up exits. The Report has been published since 2004 and reaches thousands of VCs, CEOs, and senior technologists. For more information visit http://www.greentechmedia.com/research-venture-power.html.

Source: Business Wire

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