U.S. Cleantech Investments Rise 46% in Third Quarter

San Francisco -- U.S. venture capital firms boosted their investment in cleantech companies by 46% in the third quarter, according to a new report from Ernst & Young based on data from Dow Jones VentureSource. The $965 million invested in 50 funding round represents the second straight quarter of growth. Since the first quarter, quarterly investment has increased 182% in terms of capital and doubled in terms of financing rounds. "Continuing growth in cleantech investment in the third quarter reflects investor confidence in the commercialization of clean technologies," says Joseph Muscat, the Americas director of cleantech at Ernst & Young. "The diversity in this quarter's investment activity, in terms of the technologies receiving investment and the participating investors, illustrate the potential to create value through the development of a low-carbon economy." The energy/electricity generation category received the largest amount of investment with $316 million, followed by solar technologies ($309 million). All told, 61% of investments went to companies already shipping products.
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