Cleantech Funding Declines In 2009

According to preliminary data from the information provider Cleantech Group, venture capital funding for so-called clean technologies fell to $5.6 billion in 2009, a drop of 33.4% from 2008. But the company says final data are expected to show that 2009 was a record year for the number of investment deals and that the total dollar amount invested was similar to 2007. The solar sector attracted much less capital than in years past, with $1.2 billion in investments, 64% less than in 2008. Transportation and energy-efficiency firms attracted record funding during the year as private investors followed spending signals from government stimulus programs. In 2009, for the first time, cleantech attracted more venture capital money than software, biotech, or any other category.