1Q Clean-Tech Venture Capital Investment Up 83% Vs '09 -Study
SAN FRANCISCO (Dow Jones) - Venture capitalists invested $1.9 billion globally in renewable energy and other clean technology companies in the first quarter of 2010, up 83% over the same quarter last year, the Cleantech Group and Deloitte said Wednesday.
A total of 165 venture capital deals were completed in the first quarter, a new quarterly record, the firms said. The total amount raised was up 29% over the fourth quarter of 2009, they said.
Transportation companies booked the highest level of investment, with 27 deals done for a total of $704 million, according to Cleantech Group and Deloitte. California electric-vehicle equipment company Better Place snagged $350 million, the largest round, led by HSBC Holdings Plc (HBC: 51.65, 0.94, 1.85%) and including Morgan Stanley’s (MS: 29.21, -0.06, -0.2%) Investment Management and Principal Investments units, Lazard Ltd.’s (LAZ: 36.11, 0.4, 1.12%) Asset Management unit, Israel Corp. Ltd. (IRLCF, ILCO.TV), VantagePoint Venture Partners, Ofer Hi-Tech Holdings and Maniv Energy Capital.
Solar power companies attracted the second-highest level of investment, bagging $322 million in 27 deals. The largest round yielded $41.4 million for Oregon crystalline silicon solar cell maker SpectraWatt, with Cogentrix Energy, Intel Capital and PCG Clean Energy & Technology Fund participating.
North America accounted for 81% of total clean-tech venture capital investment, a three-year high for the region, while Europe and Israel accounted for 14%, China for 4%, and India 1%.
In addition to the venture-capital investment, 13 clean-technology companies went public in the first quarter, raising a total of $1.5 billion, down from 18 IPOs in the fourth quarter of 2004 that totalled $2.9 billion. Eight of the first-quarter offerings were by Chinese companies and three were from North America. The largest clean-tech IPO in the quarter was held by Dutch sensor and control technology maker Sensata Technologies Holding NV (ST: 18.1, 0.1, 0.56%), which raised $569 million from its offering on the New York Stock Exchange, Cleantech Group and Deloitte said.
Dow Jones Newswires
A total of 165 venture capital deals were completed in the first quarter, a new quarterly record, the firms said. The total amount raised was up 29% over the fourth quarter of 2009, they said.
Transportation companies booked the highest level of investment, with 27 deals done for a total of $704 million, according to Cleantech Group and Deloitte. California electric-vehicle equipment company Better Place snagged $350 million, the largest round, led by HSBC Holdings Plc (HBC: 51.65, 0.94, 1.85%) and including Morgan Stanley’s (MS: 29.21, -0.06, -0.2%) Investment Management and Principal Investments units, Lazard Ltd.’s (LAZ: 36.11, 0.4, 1.12%) Asset Management unit, Israel Corp. Ltd. (IRLCF, ILCO.TV), VantagePoint Venture Partners, Ofer Hi-Tech Holdings and Maniv Energy Capital.
Solar power companies attracted the second-highest level of investment, bagging $322 million in 27 deals. The largest round yielded $41.4 million for Oregon crystalline silicon solar cell maker SpectraWatt, with Cogentrix Energy, Intel Capital and PCG Clean Energy & Technology Fund participating.
North America accounted for 81% of total clean-tech venture capital investment, a three-year high for the region, while Europe and Israel accounted for 14%, China for 4%, and India 1%.
In addition to the venture-capital investment, 13 clean-technology companies went public in the first quarter, raising a total of $1.5 billion, down from 18 IPOs in the fourth quarter of 2004 that totalled $2.9 billion. Eight of the first-quarter offerings were by Chinese companies and three were from North America. The largest clean-tech IPO in the quarter was held by Dutch sensor and control technology maker Sensata Technologies Holding NV (ST: 18.1, 0.1, 0.56%), which raised $569 million from its offering on the New York Stock Exchange, Cleantech Group and Deloitte said.
Dow Jones Newswires
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