Power surge for cleantech? Nope, says London research firm
Sun not shining on cleantech deals
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Local Tech Wire, AP
DENVER - A London-based research firm says third-quarter overall investment dipped for the clean technology sector which was hampered by a lack of access to credit markets.
New Energy Finance reported Friday that global investment in cleantech was about $25.9 billion in the third quarter, down 22 percent from the year-earlier quarter.
The firm also projected that cleantech investment for the year will end up between $95 billion and $115 billion, down from $155 billion in 2008 and $148 billion in 2007. In 2006, cleantech investment totaled $93 billion.
Earlier this week, Cleantech Group LLC and Deloitte reported that third-quarter venture investment in the clean tech sector totaled $1.6 billion in 134 companies in North America, Europe, China and India.
New Energy Finance reported that venture investment was $2.2 billion, up from $1.4 billion in the previous quarter.
The total investment amount was 42 percent less than the year-ago total and was 9 percent than in the previous quarter. Still, funding was nearly double the $13.3 billion invested from January to March.
“It is heartening to see that the collapse in investment seen in the first quarter of this year is firmly receding in the rear-view mirror,” said New Energy Finance Chief Executive Officer Michael Liebriech.
“However, the financing environment remains difficult, with undue reliance on stimulus funds, development banks and state-backed capital providers of various sorts,” he added. “Most significantly, the levels of investment required to bring global carbon emissions to a peak during the coming decade are as far out as reach as ever – particularly significant given the rapidly approach Copenhagen [global warming] deadline.”
The investment figure includes venture capital, private and public equity, asset financing, bonds and corporate debt.
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