European Cleantech Q3 venture investment dips to $144 million (€112 million)

Energy investments still lead investor interest with $77 million (€60million)

• ANN ARBOR, MI, Nov 13, 2006 – Cleantech Venture Network ® researchers reported today that
• European Q3 venture capital investing in the cleantech category was $144 million (€112million) versus
• the $268 million (€209 million) invested the previous quarter. Venture capital is defined as startup
• through growth stage. The energy segment led the way with $77 million (€ 60 million) followed by $35
• million(€27million) invested in the clean manufacturing and industrial segment and $16 million
• (€12million) in clean Agriculture & Nutrition companies.
•  
• Yeartodate venture investment in cleantech reached a total of $533 million (€416 million) compared to
• $652 million (€509 million) at the end of Q3 2005, representing an 18% decrease. Energy investment
• accounted for $405 million (€316 million) compared to $531 million (€414 million) for the same period
• of 2005 for a 24% decrease.
•  
• Over the past two years, European cleantech venture investments have been up and down quarter by
• quarter but venture investing has been showing an overall upward trend. The larger quarters often
• included laterstage investments into companies that were preparing to go public. The choppy investment
• trend also reflects capital constraints in Europe, where institutional (e.g. pension fund) participation in the
• European cleantech private equity space is less than their North American counterparts.
•  
• By contrast, quarter-by-quarter cleantech investment in North America has been rising steadily, with 9
• consecutive quarters of growth. General partners in North America have faced far fewer hurdles in
• their efforts to raise cleantech funds but have been stymied by a lackluster IPO market.
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• About Cleantech Venture Network ® , LLC
• The Cleantech Venture Network ® LLC is a membership organization providing insight, opportunities, and
• relationships that catalyze and accelerate the growth of cleantech markets globally. The network defined
• the cleantech category and segments in 2002 and continues to track and analyze all venture, M&A and
• IPO deals in North American and Europe to provide investors, executives, government agencies and
• media accurate and consistent data back to 1999. Over 1,300 affiliate members and 9000 cleantech
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