Clean-tech venture capital: $202M for Oregon so far this year
By Christina Williams
Sustinable Business Oregon
Oregon companies closed on clean-tech venture capital deals worth $202 million so far this year, according to a report out Thursday from Cleantech Group and accountants at Deloitte.
It's a small chunk of the $4.04 billion reported for all of North America, Europe, China and India, but an impressive jump from the $3 million in clean-tech venture capital recorded in Oregon during the first half of 2009.
Clean technology covers sustainable industries such as renewable energy, alternative fuels research and energy efficiency technologies. The Cleantech Group and Deloitte produce quarterly reports tracking the data of such deals and said that the first half of 2010 came in stronger than 2008 across the board.
"In spite of the persistence of wider concerns about the strength and sustainability of the global recovery, the strong flow of investment dollars to clean-tech growth companies has continued in (the second quarter), with clean-tech venture investment in the first half of 2010 edging slightly ahead of the record total recorded during the first half of 2008 ($4.04 billion versus $4.02 billion)" said Richard Youngman, head of global research at the Cleantech Group in a news release.
In Oregon's case the 2010 numbers were skewed by the $108 million investment made in Bend-based Vulcan Power, a geothermal energy developer.
Also included in the 2010 tally is $41.4 million raised by SpectraWatt Inc., a solar energy technology company that was formed in Hillsboro as a spin-off from Intel capital, but moved its headquarters to Hopewell Junction, N.Y.
In all, researchers counted eight deals in the first half of 2010, but did not disclose exact numbers for each deals. Included in the list is Absorbent Technologies which closed on $20 million this year and Upwind Solutions, a wind energy asset management services company in Medford, which announced a $28.8 million investment in March.
Three separate investments were counted by researchers for EMME, formerly known as Home Comfort Zones, which announced a $2.8 million investment in April.
Another Oregon company, EM3 Energy, was also included the first-half investment total.
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