Investors Move to Algae and Synthetic Biology Companies
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Green-tech venture capital funding soared last year, aided by megadeals in thin-film solar companies, according to preliminary figures released Tuesday by the Cleantech Group.
During 2008, green-tech venture investments jumped to $8.4 billion, a 38 percent increase, according to the report.
Group's senior research director, Brian Fan, said in a statement:
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.
Following solar-energy firms in attracting VC dollars were companies specializing in biofuels such as ethanol, biodiesel, synthetic biology, and algae. The sector captured 11 percent of green-tech venture investments last year, while transportation companies, such as makers of electric vehicles, advanced batteries, and fuel cells, accounted for 9.5 percent.
Green-tech venture capital funding soared last year, aided by megadeals in thin-film solar companies, according to preliminary figures released Tuesday by the Cleantech Group.
During 2008, green-tech venture investments jumped to $8.4 billion, a 38 percent increase, according to the report.
Group's senior research director, Brian Fan, said in a statement:
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.
Following solar-energy firms in attracting VC dollars were companies specializing in biofuels such as ethanol, biodiesel, synthetic biology, and algae. The sector captured 11 percent of green-tech venture investments last year, while transportation companies, such as makers of electric vehicles, advanced batteries, and fuel cells, accounted for 9.5 percent.
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