Investment globally were again for the cleantech sector, markking further rebound from the beginning of this year which began glumly. Cleantech Group says total Q3 investments were nearly $1.6 billion. Overall investments in cleantech were up 10% from Q2 but still lagging compared to Q3 in 2008, just before the big drop-off in Q4, 2008.
The leading sector: solar with a total prize of $451 million. That sector was led by money pouring into California-based thin film company Solyndra. It raised $198 million.
Ranking second in Q3 capital capture: Transportation (including Vehicles, Advanced Batteries, Biofuels) with $383 million. Electric carmaker Tesla, based also in California, was the sector leader with over $80 million raised. That does not include any of the money it got from government programs.
Cleantech focuses solely on private financing and investment, not government funding.
The U.S. continues to dominate private investment in cleantech. Of course that mlo ey can quickly be dwarfed when a government like China or the U.S. starts throwing money arround. North America had two-thirds of the global cleantech investments, whle California had 60% of the U.S. total or 30% of ALL investments globally. Could it be that California's greentech sector is on a role?
Europe and Israel got 29% of the total capital and China only 3%. Again, this does NOT count any of the money put into firms by the Chinese government which Has the most capital rich "fund" on earth right now. And they don't have to support a military fighting two wars and manning bases in dozens of countries.
In the leading cleantech IPO of the quarter, and one of the most significant cleantech exits to date, A123Systems made its long awaited debut on the NASDAQ Global Market, in which the company raised $380 million at a company valuation of $1.3 billion (which rose to $1.9 billion by the close of day one trading). Other clean technology IPOs recorded in 3Q09 were wind farm developer Indian Energy, which began trading on London's AIM, raising $16.2 million, and India-based Euro Multivision, which raised $13.5 million on the Bombay Stock Exchange for the company's photovoltaic solar cell manufacturing unit.
At the end of trading in September, A123 (aone) was trading over $21 per shrae, having launched its IPO at $13.50. Clearly there is appetitie in the public market for greentech firms.