Record Year for Cleantech Investing

Venture capitalists pumped $2.9 billion into North American cleantech companies last year, according to a new report from the Cleantech Venture Network. This is a 78% increase over the 2005 tally of $1.6 billion, and a 140% increase over the $1.2 billion invested in 2004. Expect yet another rise in 2007, at least judging by all the veteran VC firms that introduced new cleantech practices in 2006.

Most of the investments (74%) related to the energy sector, including energy generation and energy storage. Other categories included Recycling/Waste and Transportation.

CVN isn’t releasing any additional information until its annual event in late February, but it maintains a fairly comprehensive rundown of cleantech happenings at its blog.