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http://www.reuters.com/article/idUSN3120809020100331
Worldwide investment in clean technology rebounded in the first quarter, and several companies in the sector are expected to launch initial public offerings later this year, the Cleantech Group and Deloitte said on Wednesday.
Venture capital investment in clean technology companies hit $1.9 billion during the first three months of 2010 -- representing a 29 percent increase from the last quarter of 2009 and a 83 percent jump from the same period a year ago.
A record 180 deals were signed in the quarter.
"The bounce back in venture investment from lows in early 2009 has continued, with the first three months of 2010 representing the strongest start to a year we have ever recorded," said Sheeraz Haji, president of Cleantech Group.
Transportation led the group in dollar terms, accounting for $704 million in 27 deals.
The industry total was supported by the $350 million raised in January by Better Place, a California-based company working to build a network of charging stations for the electric car.
Solar, which was the top green technology sector for venture investment last year, accounted for $322 million in 27 deals during the first quarter. Energy efficiency scored the highest number of deals at 39, and brought in $217 million.
"Key to the growth has been increasing interest in a broader range of cleantech themes, such as smart mobility and resource efficiency, which are now taking over from the historically dominant renewable energy sector," Haji added.
The report also highlighted trends in the IPO market for cleantech companies, which has been weaker than many analysts expected so far this year given the number of companies that have registered to go public.
Thirteen clean technology companies launched worldwide during the first quarter, totaling $1.5 billion, easing from the 18 IPOs in the last quarter last year, which raised $2.9 billion.
China led the group with eight offerings.
If market conditions do not deteriorate, the Cleantech Group and Deloitte said they expect to see several cleantech IPOs in the second and third quarters.
Electric carmaker Tesla Motors, solar company Solyndra and biofuels company Codexis are among those that have registered for IPOs, while several others are waiting in the wings.
In the first quarter, 81 percent of the clean tech venture investment was in North America, followed by Europe and Israel with 14 percent, China with 4 percent and India with 1 percent.
The value of cleantech deals, though rising, is still off 2008's record highs, when the third quarter saw some $2.9 billion in green venture investment. (Reporting by Dana Ford, editing by Maureen Bavdek)
