Clean technology venture investment reaches record $8.4 billion in 2008 despite credit crisis and broadening recession
Even with diminished 4Q08 results, clean technology investment fundamentals remain strong.
|
The Cleantech Group™, founders of the clean technology investment category and providers of leading global market research and other services for the clean technology ecosystem, today 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. The 2008 total represents the seventh consecutive year of growth in venture investing, widely recognized as a leading indicator of overall investment patterns:
Preliminary results for 4Q08 indicate venture investment commitments worldwide of $1.7 billion across 99 disclosed investments, the smallest quarterly total in 6 quarters. 4Q08 was down 35% from 3Q08, yet down only 4% from 4Q07 despite a much more difficult economy. 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%. “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.”
EUROPE AND ISRAEL The most significant country growth was seen in Germany ($383 million invested, an increase of 217% from 2007) and Israel ($247 million invested, an increase of 224% from 2007), both led by very large solar deals. Germany overtook the UK as the country receiving the most venture capital in 2008, helped significantly by the region’s largest solar deal of 2008, the $133.7 million investment in Berlin-based solar thin-film manufacturer Sulfurcell Solartechnik. The UK’s decline in total investment ($337.8 million, down 11% from 2007) left it second in the country league table, with Israel moving into third place from sixth in 2007. CHINA: As expected, 2008 witnessed steady gains in clean technology investment in China. Solar accounted for 60% of the total, reflecting the continuing migration of solar module manufacturing from Europe and the US to China, as well as the opportunity of a large domestic market for solar water heating. Other active sectors include agriculture, lighting, and wind. The underlying fundamentals driving cleantech investment in China, including government efficiency targets in energy, water and resource utilization, emission reduction targets, government and corporate goals for cleaner supply chains and industrial operations, and corporate social responsibility goals, remain in place. INDIA: The clean technology sector in India remains nascent compared to more mature markets such as North America and Europe. Much of the interest has been in addressing the energy shortage challenges faced by the country, therefore, energy generation and infrastructure, with solar and wind deals leading the way, attracted the majority of investment dollars. However, new sectors received capital, such as electronic waste recycling, energy efficiency and water management. NORTH AMERICA: TOP INVESTORS:
Key takeaways reviewed in webinar next week Cleantech Forum® XXI San Francisco February 23-25, 2009 About the Cleantech Group, LLC |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Wind turbines suitable for Fens site
October 20, 2008 by John Pickstone
Filed under Energy Management / Efficiency
A renewable energy developer seeking permission for a wind farm claims turbines are the most advanced of the clean technologies.
Notus Energy, which has submitted plans for a 19-turbine project, also claims that turbines provide a good return in terms of energy and benefits for the money required to set them up.
The Marshland Wind Farm proposals feature Enercon E-82 turbines rated at three megawatts (MW) each.
In total the wind farm would have a capacity for 57MW and would generate enough electricity to meet the equivalent of the needs of 28,000 homes.
The developer’s website lists various reasons for setting up wind turbines on the site in the Norfolk Fens.
It cites the national windspeed database, on site wind measurements and a report by Arup and Partners, which supports the assertion that there is viable wind speed at the location.
Although the developer claims that no insurmountable issues were raised by 50 organisations consulted for the scoping report, the project has been controversial.
Early plans for the project included 26 turbines but this number was scaled back to the current proposal for 19 as the project developed.
http://www.marshlandwindfarm.de/project/project_site.html
Cambridge to host clean tech conference
September 15, 2008 by News Service
Filed under Company News
A conference at which ways of promoting clean technology and a carbon free future is to be held at the University of Cambridge later this month.
Entrepreneurship for a Zero Carbon Society will take place at the Sidgwick Site in Cambridge from September 22 to 24.
On the agenda for the event will be the funding of alternative technology, the role of business in responding to climate change and the transition to an environmentally sustainable economy, among other topics.
Organiser, Cambridge MBA student Marisa The, said that the university’s location in the Silicon Fen of the east of England provided a unique opportunity.
"It could blend cutting-edge energy research and policy with entrepreneurial talent and investment, creating the optimum environment for the development of an integrated approach to achieving a low carbon society, and the actual innovation of new clean technologies to challenge the status quo," she told FoodBev.
Other topics for discussion will be how providing incentives or subsidies such as fed-in tariffs could help develop the clean technology and in particular clean energy sector.
Norfolk green buildings host open day
September 1, 2008 by News Service
Filed under Events
A traditionally insulated building, a new development of green town houses and a social housing scheme being used to analyse the economic implications of sustainable construction and clean technologies will be open to the public later this month.
Free open days at various green buildings have been organised by the Campaign to Protect Rural England in Norfolk (CPRE Norfolk).
The scheme will give participants a chance to see how a ground source heat pump, learn how living off the mains grid works and discover the cost of a wind turbine.
Between September 11th and 14th, Norfolk residents will get a chance to visit various green buildings including a development in Ecostessey Park and a cob studio in Banham.
James Frost, director of CPRE Norfolk, told Green Building News: "The open days are organised as part of an ongoing campaign to promote positive and practical solutions to climate change and the challenge of rapidly-rising energy prices. In every case there is much to inspire, discover and learn.
"If you were one of the many people who could not get on tours at some of the properties last year, I hope you will seize the chance this time around."
ICE calls for feed-in tariff amendment
May 22, 2008 by News Service
Filed under Renewable Energy
Lords set to vote on the Energy Bill have been urged to pass an amendment which would incentivise the installation of microgeneration and renewable energy devices in homes and businesses.
The Institution of Civil Engineers (ICE) has asked the House of Lords to pass an amendment to the Energy Bill, which would make provision for the payment of feed-in tariffs to households and buildings which generated their own and surplus electricity.
Although the Bill passed the House of Commons without being amended, it was a major battleground for Gordon Brown, who saw the biggest rebellion at the time rage over the decision not to include the feed-in tariffs as part of the bill.
Further support for the amendment known as New Clause 4: Renewable Energy Tariff (RET) has come in the form of an Early Day motion signed by 270 MPs, including 100 from the Labour party.
ICE’s Director General Tom Foulkes said: "With the UK currently sitting almost at the bottom of the European league table for renewables, it is time for the government to start encouraging people to invest in clean technologies. We are therefore urging the Lords to pass the RET Clause.
"Government policy to date has focused only on large-scale power production through the Renewables Obligation. A feed-in tariff such as this has proven to be highly effective across Europe at stimulating wide investment, enterprise and innovation in local, decentralised energy."
