Cleantech VC Grew In Third Quarter 2011

Investments in cleantech sectors worldwide grew in the most recent quarter, according to data released by the Cleantech Group, a global research firm focused on cleantech innovation. The data shows that venture capital spent on cleantech projects in the third quarter of 2011 totaled $2.23 billion across 189 deals. That’s a 12 percent gain on 2011 second quarter investments, which totaled $1.98 million. The third quarter total is also 23 percent above the figures for the third quarter of 2010.

The energy storage sector came out as the leading sector, garnering a total of $514 million for 19 different deals. The largest deal was Bloom Energy’s $150 million haul from investors. The California company develops solid-oxide fuel cell technology.

cleantech vc, Bloom Energy

image via Bloom Energy

In second place was the solar sector, which raised $350 million in 33 deals. The biggest deal in the category was $85 million in funding to Texas-based HelioVolt. The company develops CIGS thin-film solar cells. Energy efficiency had the most deals, at 34, for a combined investment of $223 million. Utah-based Fusion-io, a developer of green solutions for servers and workstations raised the most in the sector, a total of $61.5 million.

CODA Store, LA

image via CODA

Transportation projects earned $177 million across 15 deals, the most notable being $66 million that went to Coda Automotive, a California-based manufacturer of electric vehicles. Worldwide, North America was the leader, taking about 76 percent of the total amount invested.  Asia Pacific followed with about 14 percent of the pie. Europe and Israel made up the remaining 10 percent.

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