Deutsche Bank and Masdar Launch Private Equity Fund Dedicated to Clean Technologies and Renewable Energy with a $265 Million First Close
ABU DHABI, United Arab Emirates January 18 2010--Masdar and Deutsche Bank today announced the launch of the DB Masdar Clean Tech Fund and its first closing, raising $265 million. This fund brings together for the first time the deep sector knowledge and scope of the Masdar Initiatives with the global asset management and research capabilities of Deutsche Bank.
“In these challenging economic times, the size of this first close and quality of participants demonstrates a profound confidence in climate change investing and in the joint DBCCA and Masdar investment team”
Co-managed by Masdar Venture Capital1 and DB Climate Change Advisors (DBCCA), the DB Masdar Clean Tech Fund seeks to build a diversified venture capital and private equity portfolio that will include some of the world’s most promising and pioneering clean tech and renewable energy companies. The Fund will invest primarily in expansion and later stage companies in the clean energy (power generation, storage), environmental resources (water, waste management) and energy and material efficiency (advanced materials, building and power grid efficiency, enabling technologies) sectors.
“Completing first close on the DB Masdar Clean Tech Fund is a clear statement of intent,” said Dr. Sultan Ahmed Al Jaber, Masdar’s CEO. “We understand both the financial and social value of companies that are tackling global environmental challenges; we are committed to supporting them by providing capital investment and management expertise.”
“We look forward to this unique fund building a portfolio containing best-in-class companies which will benefit greatly from access to the scope of the Masdar Initiatives and the global reach of Deutsche Bank, the leading global financial institution in this space,” he added.
The Fund has attracted investment from some of world’s leading organisations concerned with climate change issues. The initial investor group is led by Siemens and includes the Japan Bank for International Cooperation, Japan Oil Development Co., Ltd., which is a wholly-owned subsidiary of INPEX CORPORATION, Nippon Oil Corporation, Development Bank of Japan and GE.
“In these challenging economic times, the size of this first close and quality of participants demonstrates a profound confidence in climate change investing and in the joint DBCCA and Masdar investment team,” said Kevin Parker, Global Head of Deutsche Asset Management (DeAM) and member of Deutsche Bank’s Group Executive Committee.
“Siemens is very happy to be the lead investor in the DB Masdar Clean Tech Fund,” said Joachim Kundt, CEO of Siemens in the Lower Gulf region. “Our active involvement for the second time in a fund associated with Masdar demonstrates our ongoing commitment to clean technology, and we look forward to continuing our work with the Masdar Initiative and building on our already strong relationship with Deutsche Bank.”
The joint DBCCA and Masdar investment team is based in Abu Dhabi, New York and London and combines a wide range of experience in clean tech and private equity investing within the renewable energy industry.
The Fund’s co-managers are actively identifying and evaluating potential investment opportunities globally and expect to complete a number of investments over the next year. In addition to the considerable financial resources of the Fund, portfolio companies will benefit from the added value that comes through association with the Fund’s influential sponsors, co-managers and investors.
Source: ME NewsWire
Notes for Editors: about Masdar Venture Capital, DB Climate Change Advisors, Deutsche Asset Management, Masdar, and Deutsche Bank visit the below link:
http://www.me-newswire.com/news/1271
1 Acting through Masdar Fund Investments Limited
Contacts MasdarUAE:Fares Ghneim, +971(2)653-6000orDeutsche BankUAE:Dana Buderi, +971(4)428-3860US:Mayura Hooper, +1 212-250-5536
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Showing posts with label cleantech funding. Show all posts
Showing posts with label cleantech funding. Show all posts
Monday, January 18, 2010
Deutsche Bank and Masdar Launch Private Equity Fund Dedicated to Clean Technologies and Renewable Energy with a $265 Million First Close
Labels:renewable energy and cleantech stocks
cleantech funding,
cleantech stocks,
Deutsche Bank and Masdar Launch Private Equity Fund
Tuesday, June 30, 2009
Green Entrepreneur Funding Tools - Green Funding Directory Updated with New Global Contacts
Green Entrepreneur Funding Tools - Green Funding Directory Updated with New Global Contacts
POINT ROBERTS, Wash., Delta B.C., June 30 2009 - www.InvestorIdeas.com, a leading online global investor resource, with a primary focus on green investing, has updated the recently available Global Green Fund and Venture Capital Directory to enable green businesses and entrepreneurs to find potential funding sources.
The global directory is currently available for purchase in a PDF format for $99 and will be changed over to an online directory accessible by login to paying members, updated monthly.
Visitors can review the format and preview the directory at the Renewable Energy Funds and Venture Capital Investing page at Investor Ideas. Learn More:
http://www.renewableenergystocks.com/Companies/RenewableEnergy/Funds-and-Venture-Capital-Investing.asp
Preview:
Global Green Fund and Venture Capital Directory Sample/preview:
- Switzerland:
Aravis SA Aravis is a venture capital organization investing in highly promising life sciences and renewable energy companies. Since 1995, Aravis has invested over $600 million in more than 80 companies. Key Contact: Dr. Oliver Thalmann Tel: 41-43 4992000
Azemos Partners Azemos Partners AG is a small, independent corporate finance company focused on Switzerland's medium-sized companies. Currently manage Hornet Renewable Energy Fund 1 & 2. Key Contact: Gerard Reid Tel: 41-44 5009300
Cleantech Invest AG Cleantech Invest AG is the first investment address for companies in the Cleantech sector including renewable energy (Solar, Wind, Biogas, etc), energy efficiency, water, recycling, and environmental and climate protection. As a leading Cleantech investment corporation with an exclusive focus on the German-speaking region, we finance high-growth companies as well as those in Special Situations. Key Contact: Alexander von Hutten Tel: 41-44 783 80 41
Emerald Technology Ventures AG Launched in 2000, Emerald Technology Ventures AG, formerly SAM Private Equity manages four funds with a combined committed capital of approximately €285 million as well as two mandates all focusing on venture capital in the Cleantech sectors: energy, materials, water, and agricultural technologies. Key Contact: Gina Domanig Tel: 41-44 2696100
Subscribe to the Marketplace Business, Venture, Capital and Funding News RSS Feed
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Visit the Public Marketplace:
Accredited Investors and Companies seeking funding can register and request info online. Approved accredited investors can view the secure marketplace pages featuring executive summaries of each company. Approved companies can be added to the growing list of companies.
Register and sign up to view the private access link or to have your company added:
The Marketplace is a meeting place created for connecting global companies in leading sectors, seeking strategic partnerships, funding, management, mergers and acquisitions, licensing or branding. The Global Green Marketplace has a growing network of green and renewable energy companies seeking funding /partners, management and a growing global network providing venture capital and equity funding with an intention to go public. Investorideas.com was one of the first online investor resources providing in-depth information on renewable energy – with its Renewableenergystocks.com portal.
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, the Middle East and Australia and one of the first online investor resources providing in-depth information on renewable energy, homeland security and water.
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www.RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, and a directory of stocks within the renewable energy sector.
Renewable Energy companies/industry members can contribute content and submit renewable energy news, articles, research and links to our site: click here. News will be featured on up to 3 sector portals and the Investor Ideas Newswire.
Become an Investorideas.com Member- Research water, renewable energy and environment publicly traded companies in global markets
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Water Stocks Directory: http://www.investorideas.com/Water-Stocks/Stock_List.asp
Environment Stocks Directory: http://www.investorideas.com/Enviro_Stocks/Stock_List.asp
Renewable Energy Stocks Directory: http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Fuel Cell Stocks Directory: http://www.investorideas.com/FCCN/Stock_List.asp
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Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates! We cover multiple industry sectors but specialize in environmental and water.
Investorideas.com Vision Statement
To be known as a global destination to investors of all levels, as a base to facilitate and direct ideas, networking and investment, resulting in global change for good. To become a global leader in green and water investing.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For Additional Information:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
Or Cali Van Zant, cvanzant@investorideas.com
Source – Investorideas.com
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Disclaimer: The following news is paid for and /or published as information only for our readers. Investorideas.com is a third party publisher of news and research .Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. This site is currently compensated by featured companies, news submissions and online advertising.
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories.
Visit the Renewable energy stocks directory at
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POINT ROBERTS, Wash., Delta B.C., June 30 2009 - www.InvestorIdeas.com, a leading online global investor resource, with a primary focus on green investing, has updated the recently available Global Green Fund and Venture Capital Directory to enable green businesses and entrepreneurs to find potential funding sources.
The global directory is currently available for purchase in a PDF format for $99 and will be changed over to an online directory accessible by login to paying members, updated monthly.
Visitors can review the format and preview the directory at the Renewable Energy Funds and Venture Capital Investing page at Investor Ideas. Learn More:
http://www.renewableenergystocks.com/Companies/RenewableEnergy/Funds-and-Venture-Capital-Investing.asp
Preview:
Global Green Fund and Venture Capital Directory Sample/preview:
- Switzerland:
Aravis SA Aravis is a venture capital organization investing in highly promising life sciences and renewable energy companies. Since 1995, Aravis has invested over $600 million in more than 80 companies. Key Contact: Dr. Oliver Thalmann Tel: 41-43 4992000
Azemos Partners Azemos Partners AG is a small, independent corporate finance company focused on Switzerland's medium-sized companies. Currently manage Hornet Renewable Energy Fund 1 & 2. Key Contact: Gerard Reid Tel: 41-44 5009300
Cleantech Invest AG Cleantech Invest AG is the first investment address for companies in the Cleantech sector including renewable energy (Solar, Wind, Biogas, etc), energy efficiency, water, recycling, and environmental and climate protection. As a leading Cleantech investment corporation with an exclusive focus on the German-speaking region, we finance high-growth companies as well as those in Special Situations. Key Contact: Alexander von Hutten Tel: 41-44 783 80 41
Emerald Technology Ventures AG Launched in 2000, Emerald Technology Ventures AG, formerly SAM Private Equity manages four funds with a combined committed capital of approximately €285 million as well as two mandates all focusing on venture capital in the Cleantech sectors: energy, materials, water, and agricultural technologies. Key Contact: Gina Domanig Tel: 41-44 2696100
Subscribe to the Marketplace Business, Venture, Capital and Funding News RSS Feed
http://www.investorideas.com/RSS/feeds/MP.xml
Visit the Public Marketplace:
Accredited Investors and Companies seeking funding can register and request info online. Approved accredited investors can view the secure marketplace pages featuring executive summaries of each company. Approved companies can be added to the growing list of companies.
Register and sign up to view the private access link or to have your company added:
The Marketplace is a meeting place created for connecting global companies in leading sectors, seeking strategic partnerships, funding, management, mergers and acquisitions, licensing or branding. The Global Green Marketplace has a growing network of green and renewable energy companies seeking funding /partners, management and a growing global network providing venture capital and equity funding with an intention to go public. Investorideas.com was one of the first online investor resources providing in-depth information on renewable energy – with its Renewableenergystocks.com portal.
InvestorIdeas.com is a leading global investor and industry research resource portal specialized in sector investing covering over thirty industry sectors and global markets including China, India, the Middle East and Australia and one of the first online investor resources providing in-depth information on renewable energy, homeland security and water.
Join our Group on Linked in
Business, Investing and Funding Success Stories
About Our Green Investor Portals:
www.RenewableEnergyStocks.com® is one of several green investor portals within Investorideas.com and provides investors with stock news, exclusive articles and financial columnists, audio interviews, investor conferences, Blogs, and a directory of stocks within the renewable energy sector.
Renewable Energy companies/industry members can contribute content and submit renewable energy news, articles, research and links to our site: click here. News will be featured on up to 3 sector portals and the Investor Ideas Newswire.
Become an Investorideas.com Member- Research water, renewable energy and environment publicly traded companies in global markets
With markets and investor sentiment changing daily- it is more important than ever to stay on top of key trends! Gain Exclusive Insight on Leading Sectors, Global Trends, and Insider Trading Ideas, News, Articles and Investor Ideas Members only Stock Directories including renewable energy, water, biotech and defense stocks.
Become an InvestorIdeas.com member
Investor Ideas members following green stocks can access comprehensive global stock directories in renewable energy, water stocks and environment and fuel cell stocks.
Water Stocks Directory: http://www.investorideas.com/Water-Stocks/Stock_List.asp
Environment Stocks Directory: http://www.investorideas.com/Enviro_Stocks/Stock_List.asp
Renewable Energy Stocks Directory: http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Fuel Cell Stocks Directory: http://www.investorideas.com/FCCN/Stock_List.asp
About InvestorIdeas.com:
Investorideas.com Mission Statement
Investorideas.com creates a meeting place for investing ideas to take form and come to life in an entrepreneurial environment, servicing the needs of small investors and start- up companies to large conglomerates! We cover multiple industry sectors but specialize in environmental and water.
Investorideas.com Vision Statement
To be known as a global destination to investors of all levels, as a base to facilitate and direct ideas, networking and investment, resulting in global change for good. To become a global leader in green and water investing.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising.
For Additional Information:
Dawn Van Zant: 800-665-0411 - dvanzant@investorideas.com
Or Cali Van Zant, cvanzant@investorideas.com
Source – Investorideas.com
News at the Investor Ideas Newswire: http://www.investorideas.com/RSS/feeds/IIMAIN.xml
Sign up for free newsletter, stock and sector news alerts at Investorideas.com
Disclaimer: The following news is paid for and /or published as information only for our readers. Investorideas.com is a third party publisher of news and research .Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. This site is currently compensated by featured companies, news submissions and online advertising.
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global green stock directories.
Visit the Renewable energy stocks directory at
http://www.investorideas.com/Companies/RenewableEnergy/Stock_List.asp
Membership sign-up- get access to all of our green stock directories and water stock directory
Join- http://www.investorideas.com/membership/
Labels:renewable energy and cleantech stocks
cleantech funding,
Directory,
Green Entrepreneur
Friday, May 22, 2009
Metalysis attracts £5.1 million capital investment
Metalysis attracts £5.1 million capital investment
The special metals pioneer is successfully commercialising its unique technology, addressing global markets
Rotherham, South Yorkshire, UK, May 21, 2009 - Metalysis Ltd has raised a further £5.1 million to scale up its FFC Cambridge Process. The scale up will initially focus on the production of tantalum and titanium. All of the company’s current venture capital partners have invested further funds.
“Raising over £5 million in this environment is a significant endorsement of our core technology and the progress that the company has made. It is also a real endorsement of our management team and the potential of the business,” said Mark Bertolini, chief executive of Metalysis.
Metalysis owns the global Intellectual Property and commercial exploitation rights to the FFC Cambridge Process which, when compared to conventional technologies, enables a cheaper, less capital intensive and environmentally far more attractive production route to high value metals and alloys.
The South Yorkshire, UK-based company is already supplying low volumes of metallurgical grade powders to its partners and is scaling up its technology to enter both titanium and tantalum markets more significantly in 2010.
Tantalum and titanium powders are used increasingly in a diverse range of applications for the aerospace, marine, medical, chemical, automotive and electronics industries.
During the last five years Metalysis has raised £19 million in venture capital and a further £4 million in grants. From a workforce of three in 2005, the enterprise now employs 43 people in science and engineering, scale-up and commercial development operations.
The new funding comes from Environmental Technologies Fund along with 3i, Chord Capital, Seven Spires Investments and Cody Gate Ventures. In addition to providing working capital it will primarily be used to support the scale-up of a novel semi-continuous pilot plant.
Issued by The Hannover Consultancy on behalf of Metalysis Ltd.
Further enquiries to:
Matthew Pudney/Rafal Kwiatkowski, The Hannover Consultancy:
matthew.pudney@hannoverconsultancy.com
rafal.kwiatkowski@hannoverconsultancy.com
Tel. 00 44 (0)207 602 9222
Harry Pepper, Metalysis Ltd
harry.pepper@metalysis.com
Tel. 00 44 (0) 1709 767931
Note to editor: About Metalysis
Metalysis Ltd. is the UK’s leading technology business for the global manufacture of special metals and alloys. Using the FFC Cambridge Process, the company has developed an important new technology for producing tantalum, titanium and other metals and alloys from their oxides.
The Process works for a vast range of metals, alloys and carbides with significant economic and environmental benefits over existing processes. Metalysis owns the worldwide exclusive exploitation rights to the FFC Cambridge Process. The Metalysis executive team is led by chief executive, Mark Bertolini and finance director, Harry Pepper.
www.metalysis.com
About ETF - Environmental Technologies Fund
Environmental Technologies Fund is a £110m venture capital fund investing growth capital in companies focusing on clean technologies and services. ETF was created to provide entrepreneurs with a top-quality venture capital group in Europe dedicated solely to Cleantech. The team is backed by leading institutional investors and has a great deal of experience - gathered over decades - of working in Venture Capital and with environmental companies. ETF is supported by the European Communities Growth and Employment Initiative, MAP – ETF Startup Facility.
www.etf.eu.com
Published at the Investorideas.com Marketplace Visit the Public Marketplace: http://www.investorideas.com/marketplace/The Marketplace is a meeting place created for connecting global companies in leading sectors, seeking strategic partnerships, funding, management, mergers and acquisitions, licensing or branding. The Global Green Marketplace has a growing network of green and renewable energy companies seeking funding /partners, management and a growing global network providing venture capital and equity funding with an intention to go public. Investorideas.com was one of the first online investor resources providing in-depth information on renewable energy – with its Renewableenergystocks.com portal.
Register to view the private access link or to have your company added:http://www.investorideas.com/marketplace/signup.asp
Subscribe to the Marketplace Business, Venture, Capital and Funding News RSS Feedhttp://www.investorideas.com/RSS/feeds/MP.xml
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global stock directories.
Membership sign-up- http://www.investorideas.com/membership/
The special metals pioneer is successfully commercialising its unique technology, addressing global markets
Rotherham, South Yorkshire, UK, May 21, 2009 - Metalysis Ltd has raised a further £5.1 million to scale up its FFC Cambridge Process. The scale up will initially focus on the production of tantalum and titanium. All of the company’s current venture capital partners have invested further funds.
“Raising over £5 million in this environment is a significant endorsement of our core technology and the progress that the company has made. It is also a real endorsement of our management team and the potential of the business,” said Mark Bertolini, chief executive of Metalysis.
Metalysis owns the global Intellectual Property and commercial exploitation rights to the FFC Cambridge Process which, when compared to conventional technologies, enables a cheaper, less capital intensive and environmentally far more attractive production route to high value metals and alloys.
The South Yorkshire, UK-based company is already supplying low volumes of metallurgical grade powders to its partners and is scaling up its technology to enter both titanium and tantalum markets more significantly in 2010.
Tantalum and titanium powders are used increasingly in a diverse range of applications for the aerospace, marine, medical, chemical, automotive and electronics industries.
During the last five years Metalysis has raised £19 million in venture capital and a further £4 million in grants. From a workforce of three in 2005, the enterprise now employs 43 people in science and engineering, scale-up and commercial development operations.
The new funding comes from Environmental Technologies Fund along with 3i, Chord Capital, Seven Spires Investments and Cody Gate Ventures. In addition to providing working capital it will primarily be used to support the scale-up of a novel semi-continuous pilot plant.
Issued by The Hannover Consultancy on behalf of Metalysis Ltd.
Further enquiries to:
Matthew Pudney/Rafal Kwiatkowski, The Hannover Consultancy:
matthew.pudney@hannoverconsultancy.com
rafal.kwiatkowski@hannoverconsultancy.com
Tel. 00 44 (0)207 602 9222
Harry Pepper, Metalysis Ltd
harry.pepper@metalysis.com
Tel. 00 44 (0) 1709 767931
Note to editor: About Metalysis
Metalysis Ltd. is the UK’s leading technology business for the global manufacture of special metals and alloys. Using the FFC Cambridge Process, the company has developed an important new technology for producing tantalum, titanium and other metals and alloys from their oxides.
The Process works for a vast range of metals, alloys and carbides with significant economic and environmental benefits over existing processes. Metalysis owns the worldwide exclusive exploitation rights to the FFC Cambridge Process. The Metalysis executive team is led by chief executive, Mark Bertolini and finance director, Harry Pepper.
www.metalysis.com
About ETF - Environmental Technologies Fund
Environmental Technologies Fund is a £110m venture capital fund investing growth capital in companies focusing on clean technologies and services. ETF was created to provide entrepreneurs with a top-quality venture capital group in Europe dedicated solely to Cleantech. The team is backed by leading institutional investors and has a great deal of experience - gathered over decades - of working in Venture Capital and with environmental companies. ETF is supported by the European Communities Growth and Employment Initiative, MAP – ETF Startup Facility.
www.etf.eu.com
Published at the Investorideas.com Marketplace Visit the Public Marketplace: http://www.investorideas.com/marketplace/The Marketplace is a meeting place created for connecting global companies in leading sectors, seeking strategic partnerships, funding, management, mergers and acquisitions, licensing or branding. The Global Green Marketplace has a growing network of green and renewable energy companies seeking funding /partners, management and a growing global network providing venture capital and equity funding with an intention to go public. Investorideas.com was one of the first online investor resources providing in-depth information on renewable energy – with its Renewableenergystocks.com portal.
Register to view the private access link or to have your company added:http://www.investorideas.com/marketplace/signup.asp
Subscribe to the Marketplace Business, Venture, Capital and Funding News RSS Feedhttp://www.investorideas.com/RSS/feeds/MP.xml
News & Stories Published at Clean Energy Stocks Blog
Research Renewable Energy and water stocks as an Investor Ideas member and gain access to global stock directories.
Membership sign-up- http://www.investorideas.com/membership/
Labels:renewable energy and cleantech stocks
cleantech funding
Friday, October 31, 2008
US venture capital investment in cleantech companies reaches record $1.6 billion in Q3 2008 with a surge in later stage financings
US venture capital investment in cleantech companies reaches record $1.6 billion in Q3 2008 with a surge in later stage financings
Solar continues to lead US cleantech investment with seven of top 10 deals
San Francisco, October 30, 2008 — Venture capital investments in US cleantech companies reached a record $1.6 billion in Q3 2008, up 55% from the previous quarter, according to an Ernst & Young LLP analysis based on data from Dow Jones VentureSource. A total of $3.3 billion was invested in the first three quarters of 2008, surpassing the figure for the same period last year by 71%.
Later-stage rounds, which increased 177% to $906 million in Q3 from $327 million in Q2, were a major driver of the investment growth. These later-stage financings accounted for 55% of total capital invested in Q3, compared to just 36% in the prior quarter. This increase comes as many cleantech companies move into the capital intensive commercialization phase.
“In light of challenging economic times, the US cleantech market may be entering a transitional period. However, the structural market drivers of the cleantech sector remain intact, suggesting that the prospect for long-term market development is positive,” says Joseph Muscat, Americas Director of Cleantech and Venture Capital, Ernst & Young LLP. “Factors such as technological advances, consumer demand and programs at both the federal and state-level help to create the conditions needed for long-term growth in cleantech.”
A look at the investors in the 10 largest financings in Q3 suggests that cleantech companies are pairing venture financing with other funding sources to support their capital-intensive commercialization initiatives. Six of the 10 top deals incorporated private equity firms, hedge funds and sovereign wealth funds as first time investors in the entity. Two deals included initial investments by a strategic corporate investor.
Energy/Electricity Generation companies attracted the most investment of any cleantech segment in Q3 — $1 billion. Solar companies were by far the largest component of this segment with $990 million invested in 14 rounds, a quarter-on-quarter increase of 66% in capital, with no change in the number of rounds. Large follow-on rounds characterized solar financings in Q3. For example, SolarReserve, a company in Santa Monica, CA that develops solar thermal power plants, closed one of the quarter’s top deals with a $140 million second round. Solar companies closed on seven of the top 10 deals this quarter.
The Energy Efficiency segment also experienced continued growth with $186 million invested in Q3, an increase of 278% compared to the prior quarter and 48% compared to same period last year. This segment’s financings were led by Gridpoint, a smart grid company in Arlington, VA, that raised $120 million in a fourth round.
The third largest segment in Q3 was Alternative Fuels, which comprised 6% of overall US cleantech investment. The segment, made up entirely of biofuels, attracted $95 million of investment, a decline of 26% from the previous quarter. However, through the first three quarters of 2008 this sector attracted $455 million, an increase of 7% compared to the same period last year. Sapphire Energy, a biofuels company in Del Mar, CA, received the largest injection of capital in this sector with a $50 million second round of financing.
This was also a significant quarter for emerging cleantech segments. In the transportation sector, Fisker Automotive, Inc., an Irvine, CA green sports car company, raised $65 million to develop the first four-door plug-in hybrid premium sports car. The Water sector had its strongest quarter yet with three equity financings that totaled $45.5 million.
Q3 2008 cleantech market drivers and related developments
The cleantech market received a significant boost from the Housing and Economic Recovery Act of 2008, which extended tax credits for wind energy, geothermal, biomass and other renewable energy projects. The solar investment tax credit for utility-scale solar projects was extended for eight years. Qualified fuel cell properties received the same incentive, a development that could position this segment for additional investment.
The Regional Greenhouse Gas Initiative (RGGI), a mandatory cap-and-trade program to reduce CO2 emissions from the power sector in ten Northeastern and Mid-Atlantic states by 10%, became operational in September with its first auction of emission allowances. Potomac Economics reported that at the auction demand for certificates exceeded supply by more than four to one. At the same time, seven US states and four Canadian provinces endorsed the cap-and-trade plan developed by the Western Climate Initiative (WCI). RGGI and WCI will likely drive long-term demand for efficiency and emissions-reduction technologies.
Two of the seven US domiciled IPOs in Q3 2008 were completed by cleantech companies whose offerings raised $637 million (67%) of the $944 million total IPO proceeds in the period, demonstrating the ability of the sector to raise capital even in challenging market conditions. GT Solar International Inc., based in Merrimack, NH, raised $500 million in the largest US-domiciled IPO of the quarter. There are currently eight cleantech companies registered for an IPO seeking an average capital raise of $415 million, almost double the overall average for IPOs in registration ($222 million) according to Thomson Financial’s SDC. Merger and acquisition activity also continue to flow steadily with 14 alternative energy transactions in North America in Q3 and two additional deals in October 2008 according to J.S. Herold.
Note to editors:
Ernst & Young uses the following definitions to classify the cleantech industry and its sub-sectors:
Clean technology encompasses a diverse range of innovative products and services that optimize the use of natural resources or reduce the negative environmental impact of their use while creating value by lowering costs, improving efficiency, or providing superior performance.
Alternative Fuels - Biofuels; natural gas (LNG)
Energy / Electricity Generation - Gasification, tidal/wave, hydrogen, geothermal, solar, wind, hydro
Energy Storage - Batteries, fuel cells, flywheels
Energy Efficiency - Energy efficiency products, power and efficiency management services, industrial products
Water - Treatment processes, conservation & monitoring
Environment - Air, recycling, waste
Industry Focused Products and Services - Agriculture, construction, transportation, materials, consumer products
About Ernst & Young’s Strategic Growth Markets Network
Ernst & Young’s worldwide Strategic Growth Markets Network is dedicated to serving the changing needs of rapid-growth companies. For more than 30 years, we’ve helped many of the world’s most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early stage venture-backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business achieve its potential. It’s how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
For more information, please visit www.ey.com.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Solar continues to lead US cleantech investment with seven of top 10 deals
San Francisco, October 30, 2008 — Venture capital investments in US cleantech companies reached a record $1.6 billion in Q3 2008, up 55% from the previous quarter, according to an Ernst & Young LLP analysis based on data from Dow Jones VentureSource. A total of $3.3 billion was invested in the first three quarters of 2008, surpassing the figure for the same period last year by 71%.
Later-stage rounds, which increased 177% to $906 million in Q3 from $327 million in Q2, were a major driver of the investment growth. These later-stage financings accounted for 55% of total capital invested in Q3, compared to just 36% in the prior quarter. This increase comes as many cleantech companies move into the capital intensive commercialization phase.
“In light of challenging economic times, the US cleantech market may be entering a transitional period. However, the structural market drivers of the cleantech sector remain intact, suggesting that the prospect for long-term market development is positive,” says Joseph Muscat, Americas Director of Cleantech and Venture Capital, Ernst & Young LLP. “Factors such as technological advances, consumer demand and programs at both the federal and state-level help to create the conditions needed for long-term growth in cleantech.”
A look at the investors in the 10 largest financings in Q3 suggests that cleantech companies are pairing venture financing with other funding sources to support their capital-intensive commercialization initiatives. Six of the 10 top deals incorporated private equity firms, hedge funds and sovereign wealth funds as first time investors in the entity. Two deals included initial investments by a strategic corporate investor.
Energy/Electricity Generation companies attracted the most investment of any cleantech segment in Q3 — $1 billion. Solar companies were by far the largest component of this segment with $990 million invested in 14 rounds, a quarter-on-quarter increase of 66% in capital, with no change in the number of rounds. Large follow-on rounds characterized solar financings in Q3. For example, SolarReserve, a company in Santa Monica, CA that develops solar thermal power plants, closed one of the quarter’s top deals with a $140 million second round. Solar companies closed on seven of the top 10 deals this quarter.
The Energy Efficiency segment also experienced continued growth with $186 million invested in Q3, an increase of 278% compared to the prior quarter and 48% compared to same period last year. This segment’s financings were led by Gridpoint, a smart grid company in Arlington, VA, that raised $120 million in a fourth round.
The third largest segment in Q3 was Alternative Fuels, which comprised 6% of overall US cleantech investment. The segment, made up entirely of biofuels, attracted $95 million of investment, a decline of 26% from the previous quarter. However, through the first three quarters of 2008 this sector attracted $455 million, an increase of 7% compared to the same period last year. Sapphire Energy, a biofuels company in Del Mar, CA, received the largest injection of capital in this sector with a $50 million second round of financing.
This was also a significant quarter for emerging cleantech segments. In the transportation sector, Fisker Automotive, Inc., an Irvine, CA green sports car company, raised $65 million to develop the first four-door plug-in hybrid premium sports car. The Water sector had its strongest quarter yet with three equity financings that totaled $45.5 million.
Q3 2008 cleantech market drivers and related developments
The cleantech market received a significant boost from the Housing and Economic Recovery Act of 2008, which extended tax credits for wind energy, geothermal, biomass and other renewable energy projects. The solar investment tax credit for utility-scale solar projects was extended for eight years. Qualified fuel cell properties received the same incentive, a development that could position this segment for additional investment.
The Regional Greenhouse Gas Initiative (RGGI), a mandatory cap-and-trade program to reduce CO2 emissions from the power sector in ten Northeastern and Mid-Atlantic states by 10%, became operational in September with its first auction of emission allowances. Potomac Economics reported that at the auction demand for certificates exceeded supply by more than four to one. At the same time, seven US states and four Canadian provinces endorsed the cap-and-trade plan developed by the Western Climate Initiative (WCI). RGGI and WCI will likely drive long-term demand for efficiency and emissions-reduction technologies.
Two of the seven US domiciled IPOs in Q3 2008 were completed by cleantech companies whose offerings raised $637 million (67%) of the $944 million total IPO proceeds in the period, demonstrating the ability of the sector to raise capital even in challenging market conditions. GT Solar International Inc., based in Merrimack, NH, raised $500 million in the largest US-domiciled IPO of the quarter. There are currently eight cleantech companies registered for an IPO seeking an average capital raise of $415 million, almost double the overall average for IPOs in registration ($222 million) according to Thomson Financial’s SDC. Merger and acquisition activity also continue to flow steadily with 14 alternative energy transactions in North America in Q3 and two additional deals in October 2008 according to J.S. Herold.
Note to editors:
Ernst & Young uses the following definitions to classify the cleantech industry and its sub-sectors:
Clean technology encompasses a diverse range of innovative products and services that optimize the use of natural resources or reduce the negative environmental impact of their use while creating value by lowering costs, improving efficiency, or providing superior performance.
Alternative Fuels - Biofuels; natural gas (LNG)
Energy / Electricity Generation - Gasification, tidal/wave, hydrogen, geothermal, solar, wind, hydro
Energy Storage - Batteries, fuel cells, flywheels
Energy Efficiency - Energy efficiency products, power and efficiency management services, industrial products
Water - Treatment processes, conservation & monitoring
Environment - Air, recycling, waste
Industry Focused Products and Services - Agriculture, construction, transportation, materials, consumer products
About Ernst & Young’s Strategic Growth Markets Network
Ernst & Young’s worldwide Strategic Growth Markets Network is dedicated to serving the changing needs of rapid-growth companies. For more than 30 years, we’ve helped many of the world’s most dynamic and ambitious companies grow into market leaders. Whether working with international mid-cap companies or early stage venture-backed businesses, our professionals draw upon their extensive experience, insight and global resources to help your business achieve its potential. It’s how Ernst & Young makes a difference.
About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 135,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
For more information, please visit www.ey.com.
Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Labels:renewable energy and cleantech stocks
cleantech business,
cleantech funding
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