Green-tech venture investing cools off in 2009

January 2nd, 2010 · No Comments

The amount of venture capital that went toward green-technology companies fell to $4.85 billion in 2009, compared to $7.6 billion in 2008, according to numbers published on Wednesday by Greentech Media. The number of deals was up slightly from 350 in 2008 to 356 this year.

In a statement, venture capitalists cast the numbers in a positive light, saying that the number of deals has increased and the quality of entrepreneurs working in the area is improving.

But even with billions of government stimulus dollars spent on energy, the economic downturn has clearly had an impact on the overall sector. Venture capitalists cut off funding for at least two companies in 2009–algae fuel company Greenfuel Technologies and battery company Imara, which both failed to generate significant revenues.

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