Cleantech Group released last week their Investment Monitor for Q209 (only for members). Globally, Q209 cleantech venture investments increased by 24 percent compared to previous quarter Q109 but was down by 38 percent on an annual level from Q208. Global cleantech venture investments totalled 1,3 billion dollars at Q2. The Group estimates that 84 per cent of total venture dollars investments was follow-on rounds.
In Q2, there was a rebound for cleantech VC investments and the Group believes the worst is behind cleantech venture capital.
In general, transportation is the new focus of investor attention right now. Venture capital investors accelerated their investments in electric vehicles, powertrains & components and advanced batteries. In addition, Cleantech Group seems growing global interest in the areas of biomass-to-power, grid storage and industrial energy efficiency.
European and Israel (which Cleantech Group tracks together) companies attracted 284 million dollars cleantech money. Follow-on investments accounted for 65 per cent of all deals done. There were six cleantech investments closed in North Europe: 39 million dollars follow up investment on Norwegian Think, undefined first round investment on Dutch CrystalQ Group, around 4 million dollars follow on investment on Swedish Hexaformer, around 15 million dollars follow on investment on Dutch Emergya Wind Technologies, around 2 million dollars follow on investment on Swedish SWEBO Bioenergy and 0,5 million dollars follow-on investment on Danish Sorbiense.
The free fall of the global economy may be behind. In real life, on the grass roots level, the situation is diversified between different cleantech companies and depending on the markets, capital intensivity of the business and even geographical operations.