Reports

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Venture Capital Funding Quarterly

Alternative Energy • Clean Technology • Energy • Environmental

2008, 4th Quarter - United States

Published by: VentureDeal

Summary

During the third quarter of 2008, a total of 56 companies received $651 million in new venture capital financing, representing a 14% increase in the number of companies being funded, but a 50% decrease in the total amount funded to the four sectors of Alternative Energy, Clean Tech, Energy and Environmental.

Clean Technology companies showed the largest deal funding volume decrease of the four categories, with a $600 million decrease quarter over quarter. The Energy sector showed the biggest increase, with a 62 % increase in amounts funded. Alternative Energy funding amounts were also down sharply with a 60 % decrease, though the number of companies funded increased by 28 %.


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 the largest share of funding of the four industry sectors. 32 companies received $400 million in venture capital financing, which represented a 28 % increase in the number of companies being funded and a 60% funding reduction versus the third quarter of 2008.

Solar energy company Ausra, based in Mountain View, California, raised the largest round, receiving $60.6 million in its series C round to allow it to complete its 5 MW solar thermal power project near Bakersfield, California, the first power plant in North America to incorporate its core technology.

In the wind energy space, UpWind Solutions received $1 million in new funding from MissionPoint Capital. UpWind assists utility scale wind projects with their operations and maintenance needs.

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