Global Cleantech Investing Falls In 2Q As Investors Favor Smaller Deals

Global cleantech investing fell in the second quarter as cautious investors favored later rounds and chose smaller energy efficiency deals over big-ticket solar.

Venture investors put $1.83 billion into 161 transactions during the three months, down 10% in dollars from last year and 33% from the first quarter of the year, according to data released by the Cleantech Group. The deal total fell seven percent from the first quarter.

Eighty-seven percent of the money went to Series B or later rounds, the Cleantech Group said in a press release.

The quarter’s top category was energy efficiency, which accounted for almost a quarter of the dollars invested. LED lighting chipmaker Bridgelux raised $80 million from Chrysalix Energy Venture Capital, VantagePoint Capital Partners and VentureTech Alliance, and smart home software developer iControl Networks recieved $50 million from Charles River Ventures, Cisco Systems, Comcast Ventures, Intel Capital and Kleiner Perkins Caufield & Byers.

Solar companies attracted $363 million in 27 deals, and biofuels and biomaterials companies gathered $237 million in 12 deals. In the transportation sector, electric car manufacturer Fisker Automotive raised $100 million from undisclosed investors. 

North American transactions accounted for 77% of the investment dollars. Deals in Europe and Israel attracted 17% of the money and Asia, six percent.

Eleven cleantech IPOs took place during the quarter, six of which came from China, the Cleantech Group said. The Chinese firm Huaneng Renewable Energy raised $800 with its public offering. U.S. companies Solazyme and KiOR also went public.