Are we seeing a rebound in clean tech venture capital deals? |
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Are we seeing a rebound in clean tech venture capital deals?
A new report released today by Ernst & Young indicates that venture capitalists may have regained their appetite when it comes to investing in clean tech companies such as alternative fuels, batteries and geothermal energy. VCs invested $572 million in the sector during the second quarter, a 73 percent increase over the first three months of the year.
Meanwhile, the number of deals -- at 48 for the quarter -- represented an 100 percent increase.
The numbers caught my eye since I am about to jump on a call with a cleantech company about a new financing deal. We've also reported a number of other clean tech deals recently, namely Blue Marble Energy, Bio Architecture Lab, General Biodiesel and Prometheus Energy/Heracles Energy.
Could this signal a thawing of the venture business as it relates to clean tech deals?
Some believe as federal stimulus dollars enter the sector the dollars could continue to flow.
"Barring any sort of major capital market event, I do think that we're going to see a continued drumbeat of activity," Joseph Muscat, Ernst & Young's Americas cleantech director tells The Associated Press.
While investments increased on a quarter-over-quarter basis, they were still down when compared to the record levels of last year.
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