Cleantech seems to be getting an extraordinary amount of coverage lately.
Venturewire highlighted the level of renewable energy financing is at an all-time high earlier this week.
Financing for companies attempting to develop new sources of renewable energy, new processes and materials for manufacturing, and new technology for managing energy use, rose to a six-year high of $513 million in the first quarter of 2006, according to data from Cleantech Venture Network LLC. The figure is up from $502 million in the fourth quarter of 2005 and over 50% above the $336 million invested in the first quarter of 2005.
Again, it was new energy investments that led the way. Companies developing new technologies for energy generation raised $357 million in the first quarter, more than the total invested in all clean technology sectors in the first quarter last year, according to data from the Ann Arbor, Mich.-based industry tracker.
Apparently, Sequoia has made their first greentech investment as well.
London Seed Capital has just led a round into a fuel cell technology, Bac2 Composites. This is the second investment we’ve made into the renewable energy space.
And, I’ll be attending the 3 day Cleantech venture forum in London next week as well.