Clean tech venture capital funding in the first quarter of 2009 hit $1 billion, according to “findings released today by the Cleantech Group in cooperation with Deloitte.”
For the authors of the findings, the headline news was global cleantech VC funding “dropped 41 percent during 1Q09, compared to the previous quarter.” But that $1 billion in Q1 is still huge. Compare it to Q1 2007, when the economy was still booming — and cleantech VC funding was “only” $900 million.
Or consider this — of that $1 billion spent in Q1 2009, nearly $700 million was spent in North America, which is more money than was spent all last year on relevant cleantech R&D by DOE’s Office of Energy Efficiency and Renewable Energy, which does virtually all federal R&D spending in this area.
The news continues to be “stimulus and venture capital sow seeds for cleantech industry’s ‘revival’.” Indeed, the global stimulus investment in cleantech has been unprecedented: