Biofuels investment hits $512 million for the quarter
ANN ARBOR, MI, October 24, 2006 Cleantech Venture Network(R) researchers reported today that North American venture capital investing in the cleantech category realized its 9th consecutive quarter of growth with a record $933 million invested in Q3 2006. The energy segment led the way with $837 million, a 41% increase over the $594 million invested in Q2 2006.
The $933 million invested in all cleantech segments during Q3 2006 represented a 10.8% increase over the $843 million invested in Q2 2006 and a 120% increase over $425 million in Q3 2005. Energy investment accounted for $1.78 billion, more than tripling the $560 million invested in the first three quarters of 2005. Of the $837 million invested in energy in the third quarter, $512 million was in biofuels and $69 million in solar.
Year-to-date cleantech investments totaled $2.29 billion, double the $1.1 billion invested in the first three quarters of 2005. To date, 2006 cleantech investing has already surpassed the total of $1.6 billion for all of 2005.