According the Cleantech Venture Network, overall cleantech investment in 2004 totalled $1.209 billion, up 3.4% from the $1.169 billion recorded in 2003 and up 11.4% from the 2002 total of $1.085 billion.
$3.464 billion of investment has entered the cleantech space since 2002. Additionally, in Q4 2004 investment into clean technology companies increased for the 3rd straight quarter to $314.3 million, up from $311.6 million in Q3. The Q4 total is the largest in three years.
In 2004, cleantech investment captured 5.8% of the $20.9 billion of venture capital invested across all industries. Furthermore, in Q4 2004 Cleantech captured more than 6% of the $5.279 billion invested in North America overall, up significantly from 4.7% in the previous quarter. Cleantech now ranks 7th in size as an industry segment behind Software, Biotechnology, Telecommunications, Medical Devices and Equipment, Semiconductors and Networking Equipment.
For the second consecutive quarter cleantech investment leaders RockPort Capital and EnerTech Capital were among the most active investors in Q4. They were joined by SAM Sustainable Asset Management with each firm participating in three cleantech financings, as 10 firms participated in multiple cleantech financings in Q4. In total there were 94 unique investors participating in a cleantech investment in Q4 2004. In 2004 more than 360 different groups participated in at least one cleantech investment.
Additional Key Q4 2004 Data Points:
Europe Continues to Emerge: Eleven European cleantech investments were tracked in Q4 for a total of $84.1 million. Five of the companies were from the United Kingdom, three from Germany, and one each from France, Israel and Norway.
The Deal Size Remains the Same: The average deal size in Q4 remained consistent at $6.2 million. By comparison, the average investment across all industries again remained virtually unchanged at $7.1 million.
Focused on Follow-on Financing: Later stage deals continued to receive the bulk of the investment capital, capturing 73.2% of the cleantech total. This percentage was down from the 86.2% recorded in Q3.
Early Stage Comeback: In Q4 2004, 10 companies received investments under $1 million.
Energy’s Reign Continues: Energy related investment remained strong in Q4, as the segment captured nearly 51% of the cleantech total – $167.8 million, which was virtually identical to the amount received in Q3.
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