Clean technology venture investment reaches record despite credit crisis and recession

North America, Europe, China and India received, in total, a record $8.4 billion for investments in clean technologies, up 38% from $6.1 billion in 2007.


San Francisco– The Cleantech Group, founders of the clean technology investment category and providers of global market research and other services for the clean technology ecosystem, have announced preliminary 2008 results for clean technology venture investments in North America, Europe, China and India totaling a record $8.4 billion, up 38% from $6.1 billion in 2007. All countries tracked experienced increased investment in 2008 except India. Compared to 2007 investment levels, Europe increased 43%, China increased by 22% and North America increased by 56%. India, however, dropped by 20%, where most attention is still focused on addressing shortages.
The top clean technology sectors in 2008 were solar, biofuels, transportation, and wind. Solar accounted for almost 40% of total clean technology investment dollars in 2008, followed by biofuels at 11%.

Top Venture Capital Clean Technology Sectors in 2008

"2008 saw solar take a 40% share of clean technology venture investment dollars, led by mega-investment rounds in thin-film solar, concentrated solar thermal and solar service provider companies," said Brian Fan, senior director of research, Cleantech Group. "Investors also continued to migrate from first-generation ethanol and biodiesel technologies to next-generation biofuels technologies, led by algae and synthetic biology companies. Other sectors with healthy investor interest included smart grid companies, small-scale wind turbines, plastics recycling, green buildings and agriculture technologies."
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