Promoting Clean Technologies ^ Forging Cross-Industry Collaboration

Clean technology venture investment rebounds in 2Q09

In angel Investor, cleantech, Energy, entrepreneur, Environment, greentech, investment, Science, Sustainable, Technology, technology transfer, Venture Capital on July 2, 2009 at 5:18 pm

Clean technology venture investment rebounds in 2Q09.

Reprinted In Part from CleanTech, LLC

BY TECHNOLOGY SECTOR
The leading sector in the quarter was transportation—specifically, vehicles, biofuels and advanced batteries—reflecting attention on the automotive sector and significant government stimulus. Meanwhile, solar saw its lowest level of investment in over three years, with only $114 million invested, down from a high of $1.2 billion invested in 3Q08, as most investors, whose portfolios contain significant solar holdings, did not increase their exposure. The largest transactions in each technology sector were:

  • VEHICLES – $236 million
    Deals included San Diego startup V-Vehicle’s raise of $100 million to date from Kleiner Perkins Caufield & Byers and T. Boone Pickens to build a fuel-efficient car in Louisiana, EV manufacturer Fisker Automotive, which raised $85 million from Eco-Drive Partners and Kleiner Perkins to fund development and manufacturing of its Karma plug-in hybrid, Norwegian EV startup Think Global which raised $39 million, and Israel’s ETV Motors which raised $12 million from Quercus Trust to develop an electric powertrain.
  • BIOFUELS – $206 million
    Deals included agri.capital, a European developer of biogas plants, which raised $82 million from TCW Group and others and renewable oil producer Solazyme, which raised $57 million from Braemar Energy Ventures, Lightspeed Venture Partners and new investor VantagePoint Venture Partners.
  • ADVANCED BATTERIES – $165 million
    Deals included lithium-ion startup A123, which raised a $100 million round led by GE and others, and Deeya Energy, which raised $30 million from Technology Partners and others to develop its redox flow batteries.
  • SOLAR – $114 million
    Deals included Indian solar developer Cobol Technologies, which raised $30 million from Pangea Capital, as well as CSP technology provider Ausra, which raised $25.5 million from Khosla Ventures and Kleiner Perkins, among others. Another CSP company, Stirling-engine dish vendor Infinia, raised $14.1 million in convertible debt, as part of a $50 million planned raise.

M&As AND IPOs
Clean technology M&A totaled an estimated 138 transactions in 2Q09, of which totals were disclosed for 40 transactions totaling $12.2 billion. This is up 291 percent from 1Q09, which saw 123 M&A transactions, of which 28 were disclosed for a total of $3.1 billion.

Cleantech Group noted two cleantech IPOs in 2Q09: China Metal Recycling began trading on the Hong Kong Futures Exchange, raising $186 million, and Duoyuan Global Water Inc. listed on the NYSE raising $88 million. Another notable transaction was Broadwind Energy’s transfer of shares from OTC-BB to the NASDAQ on April 9th.

BY GEOGRAPHY
North America accounted for 66 percent of the total, while Europe and Israel accounted for 21 percent, India for 11 percent, and China for one percent.

  • EUROPE: European and Israeli companies raised USD $259 million in 30 disclosed rounds, down 13 percent from 1Q09 and down 17 percent from 2Q08. Energy Generation ($130.5 million, 11 deals) companies received the most investment, followed by Transportation ($51.0 million, 2 deals). The largest deal was German biogas plant developer agri.capital which raised $81.7 million and helped Germany ($95.4 million, two deals) gain the top position in the country rankings in Europe. The UK was second ($55.4 million, 13 deals), and Norway ($39.0 million, one deal) was third, thanks to Think Global’s $39 million round, the second largest deal of the quarter.
  • CHINA: There were six cleantech VC deals totaling USD $18 million in China. Advanced battery technologies raised USD $10 million to develop lithium-ion batteries. Hunan Joyfly New Material attracted USD $4.3 million to develop environmental friendly materials.
  • INDIA: Indian cleantech companies raised USD $131 million in seven investment rounds (of which one deal amount was not disclosed), an increase of 167 percent from the previous quarter and up 161 percent from the same period last year. The largest deal was a USD $42 million round for Hyderabad-based Ramky Enviro Engineers which specializes in recycling and waste. The most active investor was IL&FS (Infrastructure Leasing and Financial Services Limited) which invested in two deals. Other investors in the quarter included Blue Run Ventures, DFJ, Mumbai Angels, New Enterprise Associates (NEA) and Axis Private Equity.

TOP INVESTORS

2Q09 Most Active Cleantech Venture Funds
Venture Capital Firm # of rounds Companies
Kleiner Perkins Caufield & Byers 5 Agnion Energy, Ausra, Fisker Automotive, V-Vehicle, Zettacore
Khosla Ventures 4 Ausra, Cello Energy, HCL Clean tech, Transonic Combustion
Braemar Energy Ventures 4 Fulham, Nuventix, OPX Biotechnologies, Solazyme
Robeco Alternative Investments 3 AWS Eco Plastics, EPS Corporation, Turbine Air Systems
Draper Fisher Jurveston 3 Glycos Biotechnologies, Deeya Energy, Zettacore
VantagePoint Venture Partners 3 Alertme, Solazyme, Tendril Networks
Source: Cleantech Group (cleantech.com)

VCs Expect Slow Recovery, But Cleantech Remains a Bright Spot http://cleantechnica.com/files/2009/07/vc_2q_chart.jpg

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: