NEW YORK — Venture capital investing in alternative energy and other clean technologies rose 64% to a record $843 million in the second quarter, moving ahead of medical and telecom to become the third most investment lucrative field, the Cleantech Venture Network said Thursday. It’s the eighth consecutive quarter of growth for the sector. The energy segment made up the biggest component of clean tech investing with $594 million, up 69%. The only sector ranking ahead of clean tech are biotech and software. The surge comes along with a rise in oil prices, which have moved up above $75 a barrel from about $50 a barrel in the past year. Cleantech Venture Network defines the category as ‘services, products and technologies that use energy, water and other raw materials more efficiently and productively, while delivering equal or superior performance compared to incumbent technologies.’ The biggest clean tech investment in the quarter went to Current Communications, an energy infrastructure company that deploys Internet communications over power lines to both boost efficiency and deliver Web services. Nanosolar, Inc. drew $75 million to support its energy generation business and ramp up production of its solar electricity technology. […]
Wednesday, August 16th, 2006
A Record $843 Million Flows into Alternative Energy, Tech Firms
Author: STEVE GELSI
Source: MarketWatch.com
Publication Date: 1:19 PM ET Aug 10, 2006
Link: A Record $843 Million Flows into Alternative Energy, Tech Firms
Source: MarketWatch.com
Publication Date: 1:19 PM ET Aug 10, 2006
Link: A Record $843 Million Flows into Alternative Energy, Tech Firms
Stephan: