Reports

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Venture Capital Funding Quarterly

Alternative Energy • Clean Technology • Energy • Environmental

2008, 3rd Quarter - United States

Published by: VentureDeal

Summary

During the third quarter of 2008, a total of 49 companies received $1.3 billion in new venture capital financing, the same deal volume as the second quarter of 2008.

Clean Technology companies showed the largest percentage increase in funding amounts of the four categories, with a 31% increase in deal volume. The Energy sector showed the biggest decline, with a 20% decrease in amounts funded. Alternative Energy funding amounts were flat, while the number of companies funded fell by 31%.


Funding Activity

Alternative Energy

Alternative Energy companies, which usually include solar, biofuels, wind power, hydrogen and other non-fossil fuel energy developers, continued to receive by far the largest share of funding of the four industry sectors. 25 companies received a little over $1 billion in venture capital financing, which represented an 18% decrease in the number of companies being funded and no funding amount change versus the second quarter of 2008.

Solar energy company NanoSolar, based in San Jose, California, raised the largest round, receiving $300 million in its series B round to allow it to accelerate production expansion for its San Jose and Berlin factories. Another solar service provider, SolarReserve, received a large round of $140 million to support development of its new solar energy projects domestically and internationally.

In the wind energy space, FloDesign Wind Turbine Corporation closed on a new round of $6 million, led by Kleiner Perkins Caufield & Byers. FloDesign is developing advanced wind turbines for electric energy production purposes.

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