In addition, funding for cleantech companies was down 11% from the third quarter of 2009. However, the cleantech industry continues to raise more venture money than the biotech and information technology sectors. Within cleantech, technologies related to transportation, biofuels, and the electric grid received the most money, but the largest number of deals was at firms focused on energy efficiency. Cleantech Group President Sheeraz Haji says energy-efficiency deals are attractive because they require small amounts of capital and offer fast payback times. Chinese firms snagged two of the top 10 cleantech investments; the larger was in eHi Car Service, a Shanghai-based car-sharing company, which raised $70 million.
by Melody Voith |
October 11, 2010