Global cleantech venture investments soar to USD 1.76bn in Q2 2013

Jul 4, 2013 - Global venture investments in clean technology surged 56% in quarterly terms to USD 1.76 billion (EUR 1.35bn) in April-June 2013, preliminary data published by marketing firm Cleantech Group showed on Wednesday.

As many as 214 transactions were closed in the second quarter of the year across North America, Europe, Israel and the Asia Pacific region, slightly below the record-high 246 cleantech deals completed the previous three months. Series B or later funding made up 54%% of these deals, accounting for 90% of all invested funds in the period.

Energy efficiency projects attracted the lion's share of venture investment, at USD 378 million, followed by biofuels and biochemicals with USD 231 million and solar power with USD 170 million.

The regional breakdown of global venture investment shows that North America attracted 71% of the funding, or USD 1.25 billion. Second came companies in the Asia Pacific Region, raising a combined USD 267.6 million, while firms operating in Europe and Israel attracted USD 235.7 million.

Among the major cleantech venture deals that took place during the quarter was Chinese wind turbine component maker Xiangtan Electric Manufacturing's success in raising USD 112 million from Hunan Hi-Venture Capital. Another Chinese company, solar developer Hefei Golden Sun Energy Technology, attracted about USD 70 million from Jiangsu Akcome Solar Science & Technology, while Gimv and Societe Regionale d’Investissement de Wallonie (SRIW) agreed to invest EUR 40 million (USD 52m) in Belgian renewable energy marketer Lampiris. Another major deal was Credit Suisse's (NYSE:CS) and E.ON's (NYSE:CS) USD 150 million investment in US fuel cell box maker Bloom Energy.

The initial public offering (IPO) market saw four cleantech debuts for a total USD 280 million, while M&A transactions totalled 54. The value of just 22 of the deals was revealed, totalling USD 4.9 billion.

(USD 1.0 = EUR 0.769)

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