Reports

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Venture Capital Funding and M&A Quarterly

Alternative Energy • Clean Technology • Energy • Environmental

2007, 4th Quarter - United States

Published by: VentureDeal

Summary

Overall, the four reviewed sectors received a total of $499 million in venture capital funding, as compared to slightly over $1 billion in the previous quarter, a reduction of 52%. The number of companies funded fell by 26%, from 53 to 39.

During the quarter, Alternative Energy sector companies edged out the Energy sector for the most venture capital funding as well as the greatest number of companies funded, receiving $202 million among 17 different companies. However, Energy companies showed the only funding increase among the four sectors, with a 100% funding increase.

Alternative Energy and Clean Technology companies sustained a significant drop in total funding amounts compared to the previous quarter. But taken together over the longer term, the three sectors are still indicating solid growth and strong funding interest from venture capital firms when compared to prior year quarterly figures. Environmental showed no discernable change. (See Table 1.)


Funding Activity

Alternative Energy

In the Alternative Energy sector, the largest funding event was for Konarka Technologies, Inc., which received $45 million from a large syndicate of venture capital and private equity firms. The company plans to use the funding to accelerate the development and commercialization of its “polymer-based organic photovoltaic technologies.”

Konarka wasn’t the only photovoltaic (PV) company to receive funding - a number of other companies that are developing new PV technologies or improving the efficiencies of existing PV technology were rewarded with additional development or expansion capital:

HelioVolt- $24 million, Series B round
SolFocus- $12 million, Undisclosed
GroSolar- $10 million, Series B
Green Volts- $10 million, Series A
Ampulse- $1 million, Undisclosed

While PV-based energy systems have not yet attained a favorable cost comparison to existing fossil-fuel energy sources, these companies and many others are continuing to reduce energy costs and increase efficiencies in the solar arena.

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