Clean Tech Companies Clean Up, with a Record $5.1 Billion in Investments

Venture capital investment for clean technology companies is gaining steam again after a major drop off following the financial crisis in 2008. According to a report released Monday by research firm Clean Edge, total venture capital dollars for the clean technology sector in 2010 was $5.1 billion, a 46 percent increase from 2009. In fact, 2010 was a record year for venture capital in the sector, with clean energy companies commanding 23 percent of all venture capital dollars. The sector encompasses investments for makers of electric cars, solar panels and biofuels. In 2008, clean tech investments set the previous record of $6.1 billion before plummeting 42 percent in 2009.

Better Place, a Palo Alto, Calif.-based company facilitating the transportation infrastructure for the adoption of electric vehicles, landed the biggest venture deal of 2010, a $350 million investment led by HSBC, Clean Edge reported. According to the group, global revenue for companies in solar, wind power and biofuels also rose 35.2 percent last year to $188.1 billion. That figure is expected to increase, and Clean Edge predicts a total of $349.2 billion in revenue by 2020 for clean tech companies globally.