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Tuesday, April 5, 2011

Cleantech venture funding hits $2.57 in qtr-study

Venture capitalists invested $2.57 billion in the clean technology sector in the first quarter, up 13 percent from a year earlier, with most of the money going to companies involved in solar power. That figure reflected 159 announced deals, the lowest number for any quarter since mid-2009, a report from the San Francisco-based consulting company Cleantech Group LLC said on Tuesday. The solar sector drew $641 million in capital, with the largest chunk going to BrightSource Energy Inc, a developer of solar fields. After solar, the largest flows of money went to companies developing electric vehicles, which drew $311 million.

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