Reports

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Clean Technology

Clean Technology deal volume slightly reversed its previous downward trend by showing a 7% increase to $24 million in total funding among only four companies.

The majority of funding volume went to two water technology companies: Oasys Water and WaterHealth International, who both received $10 million funding rounds each.

Oasys Water has developed what it calls an "Engineered Osmosis" water treatment process that can potentially produce potable water at costs far less than current desalination methods. The company said it intends to use the funding proceeds to build out its development platform.

The other significant funding event during the quarter was for WaterHealth International. The $10 million series D round was partially funded by corporate strategic investor Dow Venture Capital. The company has created a water purification and disinfection technology to help combat waterborne diseases.

Energy

Venture-backed Energy company fundings decreased dramatically by by 32% compared to the previous quarter. The number of companies funded also declined 53%, from 17 in the previous quarter to 8 in the current quarter.

Lithium Ion battery company Boston-Power raised the largest round during the quarter, securing $55 million from a syndicate of venture capital firms. The company said it would use the funding proceeds to scale manufacturing operations for its Sonata lithium-ion battery products.

On the international front, Kosmos Energy secured another $39 million from Warburg Pincus, which was the second largest funding round during the quarter. Kosmos is focused on finding and developing oil reserves in the west African region.

Another company funded by Warburg Pincus, Broad Oak Energy, raised $14.8 million during the quarter. Broad Oak is developing technology to extend and improve oil and gas recovery in onshore areas such as Texas and Louisiana.

Environmental

The environmental sector tallied three transactions totaling $11 million for the quarter versus $5.5 million in the previous quarter, for a 100% increase. Two companies received the lion's share of funding, The Ozone Man and Environmental Operating Solutions, receiving $5 million and $5.85 million respectively. The Ozone Man said that it would use the funding proceeds to expand its sales and marketing efforts. Environmental Operating Solutions "creates agriculturally-derived products to remove the pollutant nitrogen from wastewater."

Table 1

Venture Funding Activity – 1st Quarter 2009


Industry Total
Amount
Funded
% Change
Vs. Prior
Quarter
Number of
Companies
Funded
% Change
vs. Prior
Quarter
Alternative Energy $253 Million - 38 % 22 - 31 %
Clean Technology $24 Million + 7 % 4 -- %
Energy $94 Million - 32 % 8 - 53 %
Environmental $11 Million + 100 % 3 -- %
Total $382 Million - 41 % 37 - 34 %

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