press releases

Cleantech Doubles Venture Capital Market Share

 

  • Ann Arbor, MI – October 8, 2003 – The $641 million invested in clean technology
  • ventures during the first two quarters of 2003 is 22% higher than the $524 million
  • invested over the same period last year, according to the most recent issue of
  • the Cleantech Venture Monitor released today. Given the overall decline in
  • venture financings, cleantech doubled its venture capital market share to 8%
  • during Q1-Q2 2003 from 4% in the same period last year. Nearly 100 cleantech
  • companies were funded in the first half of the year.
  • For energytech-focused investors the news is not so good. The first six months of
  • 2002 saw energytech taking over 60% of all cleantech venture dollars. Over the
  • comparative period for 2003, energytech has dropped to 34%, declining to 29%
  • this past quarter. According to Nicholas Parker, Chairman of the Cleantech
  • Venture Network: “Investors in this segment are cautious given the lack of
  • positive market dynamics in the distributed generation area and the weak
  • performance of publicly traded energytech stocks”. Investors are diversifying into
  • other cleantech segments such as more efficient materials, air quality and water
  • purification.
  •  
  • “What’s common to all investors”, says Parker, “is they increasingly want to see
  • revenue and evidence of near-term profitability from prospective investees”.
  • Accordingly, the 21 companies selected so far to present at Cleantech’s
  • forthcoming venture forum (New York, October 21-23) have collectively
  • generated revenue approaching $100 million. With evidence of market traction
  • for cleantech products, rising capital commitments and new investors, the
  • opportunity to build a cleantech venture community is greater than ever before.
  •  
  • Publicly launched in July 2002, the Cleantech Venture Network is a market
  • facilitation service providing venture forums, investment reports, and online
  • services to investors and companies.
  •  
  • For additional information, please go to www.cleantechventure.com or contact:
  • Keith Raab, CEO, keith@cleantechventure.com, 517-223-9607 or
  • Nicholas Parker, Chairman, nicholas@cleantechventure.com, 416-456-9314