Menlo Park, California -- Venture capital database VentureDeal tracks Alternative Energy technology companies funded by venture capital firms throughout North America.
Below is a chart showing the distribution of Alternative Energy company financing events by state:
Of the 53 transactions during the period, California accounted for 22 deals, or approximately 42% of activity.
Coming in a distant second were the two states of Massachusetts in Washington, with only four deals each.
Minnesota, Colorado and Ohio each had three transactions for the year to date period.
Canada had two deals for the entire country. This is not unexpected, since Canada has such a strong focus on the fossil fuel industry.
Overall, only 15 U.S. states were represented in the numbers, which compares unfavorably to the more typical 20 - 30 State range for other technology industries.
The marked skew toward California-based companies does not bode well for the overall health of the industry from a geographic distribution standpoint.
Although the above chart doesn't show previous year's data, a review of the VentureDeal database for 2014 saw 69
transactions for the same period. So the current year's results of 53
deals indicates a 23% drop in activity vs. 2014.