Reports

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Venture Capital Funding and M&A Quarterly

Alternative Energy • Clean Technology • Energy • Environmental

2009, 1st Quarter - United States

Published by: VentureDeal

Summary

During the first quarter of 2009, a total of 37 companies received $382 million in new venture capital financing, representing a 34% decrease in the number of companies being funded and a 41% decrease in the total amount funded to the four sectors of Alternative Energy, Clean Tech, Energy and Environmental.

Alternative Energy companies showed the largest deal funding volume decrease of the four categories, with a 38% decrease quarter over quarter. The Environmental sector showed the biggest increase, with a 100% increase in amounts funded. Energy funding amounts were also down sharply, with a 32% decrease and the number of companies funded decreasing sharply by 53%.


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. 22 companies received $253 million in venture capital financing, which represented a 31% decrease in the number of companies being funded and a 38% funding reduction versus the fourth quarter of 2008.

Thin film solar company OptiSolar, based in Hayward, California, raised $30 million during the quarter from private equity firm Richardson Capital. The company is developing thin-film systems in its goal to make solar energy competitive with existing energy costs.

In the wind energy space, Invenergy also received $30 million in a new funding round, from corporate investor Clean Leaf Energy. Invenergy said it would use the funding proceeds to support the growth of its sales and marketing efforts worldwide.

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