More Funding, Fewer Deals For Cleantech In Q1 2011, Solar Dominates And Storage Rises

According to a report out today from Ernst & Young and Dow Jones VentureSource, American venture capitalists invested 54 percent more, by dollar amount, in cleantech companies for the first quarter in 2011 versus the same period last year. The sector attracted $1.14 billion for the quarter up from $743.3 million in Q1 2010. The number of deals attracting venture capital in the sector declined, however, by 13 percent from 79 to 69. Energy or electricity generation, especially solar businesses, and later stage rounds dominated. The energy and electricity generation segment raised $450.3 million through 16 deals or about 39.5 percent of total dollars raised for the quarter. Solar ventures attracted $362.7 million, or about 32 percent of total dollars raised for the quarter, a 162 percent increase for the segment over the same period last year.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/g5oeUfdWwC0/

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