Clean tech investment increases in Q3

By Admin
A growing interest in solar power and other sustainable energy sources has contributed to a rise in clean technology across the globe in the third quart...

A growing interest in solar power and other sustainable energy sources has contributed to a rise in clean technology across the globe in the third quarter.
According to Greentech Media, solar power, an electric grid controlled by computers for efficiency, biofuels, electric cars, green building materials and other technologies increased to $1.9 billion in 112 deals. The significant rise follows a trend where clean technology went from $836 million in the first quarter to $1.2 billion in the second quarter.
"There is a lot of momentum and there are a lot of deals in the pipeline," says Eric Wesoff, who wrote the report. "People are energized by the A123 Systems Inc. (AONE.O: Quote, Profile, Research, Stock Buzz) IPO. I'd say it's reasonable to look for moderate growth in the fourth quarter."
Last week shares of battery maker A123 shot to more than 50 percent, making it the most attractive of last week's public offerings. Wesoff says venture capitalists will take note of that, but that their pockets are not deep enough to support continued growth at the rate of the past two quarters.
More than half the clean tech investment in the third quarter went into two areas - solar and a combined category of biofuels, gasification and cleaner coal. Solar accounted for $575 million in 29 deals, and biofuels, gasification and coal for $513 million in 17 deals.
Overall, though, the deals have fallen short of 2008's record highs, when the third quarter saw $2.9 billion and the entire year $7.6 billion. Wesoff says the year - and the quarter - were driven by unusual capital investment to build out solar manufacturing plants.
 

Share
Share

Featured Articles

Energy Security Bill introduced to UK Parliament

UK Energy Security Bill to support roll-out of low carbon technologies such as CCUS and hydrogen, and deployment of heat networks

Shell commits to Europe's largest renewable hydrogen plant

The 200MW electrolyser will be constructed on the Tweede Maasvlakte in the port of Rotterdam and produce up to 60,000kg of renewable hydrogen

Shell invests in Qatar LNG North Field East project

Shell buys 25% stake in Qatar LNG North Field East expansion project which will have capacity of 32mn tonnes a year

Gas-led recession a 'near certainty' in Europe

Oil & Gas

ABB scoops global energy automation technology award

Technology & AI

INEOS Köln awarded €770,000 for green hydrogen study

Renewable Energy