Global cleantech spending in Q3 2010 declines 11% Y/Y

(ADPnews) – Oct 4, 2010 – Venture capital (VC) investors injected into the worldwide cleantech sector USD 1.53 billion (EUR 1.11bn) in the third quarter of the year, marking an annual decrease of 11%, according to analyst firm The Cleantech Group and global financial consulting giant Deloitte.

The figure, involving 152 deals, is 30% lower on the second quarter and the worst for any third quarter since the 2005 trough, the analysts said.

Sheeraz Haji, president of the research and advisory group, blamed the slump on choppy recovery, which continues to give headaches to businesses and investors.

On a brighter note, the USD 5.73 billion ploughed into the cleantech sector through the first three quarters of 2010 is already on top of the full-2009 figure of USD 5.69 billion.

China has carved itself a solid place on the cleantech venture capital market, with investments totaling USD 153 million in the third quarter, the best since 2007. North America clung to the lead but its USD 928 million figure amounted to a precipitous 42% quarter-on-quarter decline and was 15% down on the year.

On a global scale, the transportation sector attracted the bulk of the venture capital during the quarter, with 14% of the total raised in cleantech followed by biofuels with 12%, smart grid with 11%; solar with 9%; energy storage with 9% and energy efficiency with 8%.

(USD 1.0 = EUR 0.727)

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