Private investment in green technology is now at the highest it’s been in nearly a decade, according to a market research firm.
Cleantech Group told CNET that venture capital money is flowing at the highest level since the company began to monitor global investment in 2002. US$2.5 billion was spent during the first quarter of 2011.
The recipients were primarily more established businesses; there has been a notable reduction in the number of start-ups receiving early stage financing, according to a report by Reuters published late last year.
Some standouts over the past two months have included:
- Agilyx announced that it had received $22 million to bring its technology for turning plastic into oil to market, early this month.
- In February, Harvest Power raised $51.7M to build a facility that will convert food waste into energy.
- VIA Motors raised $5.3 million in Series A investment to build clean trucks and SUVs for the U.S. market.
- Google Ventures invested an undisclosed amount into CoolPlanetBiofuels, a company that converts biomass into fuel. GE also contributed to its Series B funding.
- Invus contributed another $17 million into Zero Motorcycles’ electric powered bikes.
- Smart grid start-up Grid2Home raised $2.6M from Granite Ventures.