Cleantech VC hits nearly $1B in Q2

The Cleantech Network said today that second quarter 2007 North American and European cleantech venture investments totaled just under $1 billion.

That's a 10 percent increase over the $903 million doled out in the first quarter of this year, according to the research group's report.

Last month, the Cleantech Network said cleantech investments in 2006 were up by 70 percent, rising to $3.9 billion (see Cleantech investments up in 2006).

For the first half of 2007, today's report said there was a total of $1.90 billion in invested in cleantech in North America and Europe, up from $1.73 billion invested in the first half 2006.

Initial public offerings also did well in the second quarter, with a total of 17 cleantech offerings raising nearly $1.7 billion.

Those IPO totals are up 88 percent from the cash raised in Q1's 9 cleantech share sales.

Splitting things up by continent, North America pulled in $843 million in the second quarter, about equal to the same quarter last year, and a 15 percent increase over the first quarter of 2007.

In Europe, second quarter venture investments of $154 million represented a 43 percent drop from the $268 million invested in Q2 in 2006, and a decrease of 11 percent from the first quarter of 2007.

Out of the 77 deals in the second quarter tracked by the Cleantech Network, the report said energy generation continued to lead other segments, with a total of $535 million invested.

That's up 8 percent from the first quarter of this year, but it's still down 3 percent from the second quarter in 2006.

Of the 60 deals done in North America, 25 were in energy generation, for a total of $437 million.

In Europe, investors put more than $98 million in energy, with that category accounting for 9 of the 17 deals there.

The Cleantech Network is the new owner of the Cleantech Group (see the Cleantech Group acquired).

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