It is not an easy time to be a cleantech venture capitalist. Still a hardened [...]Continue
We take a look at the clean technology companies that have raised the most venture funding in the last few years. Overall, it is not light and pleasant reading.Continue
BrightSource Energy said it raised more than $80 million of additional equity financing, brings its total equity financing to more than $615 million. Alstom and VantagePoint Capital Partners lead the round with DFJ, CalSTRS, DBL Investors, Goldman Sachs, Chevron Technology Ventures and BP Ventures and others joining.Continue
Cleantech is out of favor. Sure, Nuventix just raised another $6.9 million, and Accel this week put $6.7 million into Vigilent, with the help of several angels. But even as startups such as BrightSource Energy appear to press ahead with IPOs, Enphase Energy this morning cut the expected price of its offering to between $6 and $7 a share.Continue
For venture-backed companies in registration to go public, August is not shaping up as a promising month. While it remains to be seen whether the worst of the market downturn is behind us or ahead, the debt ceiling imbroglio and S&P downgrade of U.S. debt have already had a chilling effect on IPOs. Three venture-backed […]Continue
Enphase Energy joined the list of top cleantech companies testing the IPO waters this year by filing for an IPO on Wednesday The company said in a S-1 registration statement submitted to the Securities and Exchange Commission that it plans to raise $100 million. A successful offering will benefit six venture investors with substantial stakes […]Continue
Solar titan First Solar sent dark clouds over the cleantech markets last week when quarterly earnings fell by almost a third. Yesterday, skies cleared when JA Solar’s latest financial report beat Wall Street’s estimates with a nearly 90% rise in quarterly net income, even though Energy Conversion Devices conceded its third quarter sales tumbled 70%. […]Continue
Cleantech pundits like to point out that the rest of the world is cleaning America’s clock in green technology.
But this isn’t entirely true if you look at venture investing. Especially if you look at the recently completed first quarter, when U.S. venture capitalists accounted for 79% of the global capital dispersed to cleantech startups.
It was the highest percentage since 2002, according to the Cleantech Group.
In our previous cleantech slideshows, we’ve covered the quarter’s solid rebound. First-quarter cleantech investment dollars were up 13% from a year ago and 52% from the fourth quarter to $2.57 billion, according to the Cleantech Group.
While deal volume lagged, it was still up 18% from a year ago. The quarter’s 159 deals proved to be the lowest total since mid-2009 and fell 19% from the fourth quarter’s 189.Continue
Solar continued to be the driving force behind cleantech investing in the first quarter as venture capitalists shifted dollars to more mature, later stage companies.
The quarter saw investors worldwide pour $2.57 billion into 159 companies, a 13% increase in dollars from last year, according to the Cleantech Group. The majority of the money – 93% – went to follow-on rounds.
Surprisingly, this more cautious environment was fertile ground for solar deals. Solar startups attracted $641 million, or 24% of total dollars, as several big deals led the way. The next closest industry sector was transportation, with less than half the committed dollars.Continue
The global downturn eventually put the skids on the ability of cleantech firms to raise cash. General partners found it hard to pitch LPs for new money when they could show little in the way of returns from past funds. Or so goes the prevailing wisdom. Stop here! Maybe this storyline isn’t as accurate as […]Continue
It is no secret the IPO market in the United States has rebounded solidly since the middle of last year. Well, here is something you may not know: first-time stock offerings continue to gain steam, as well. So far this month, 21 deals were done with $5.6 billion raised for issuing companies and investors logging […]Continue
Cleantech IPOs may be gaining momentum.
Solar plant developer BrightSource Energy filed what is certain to be an explosive initial public offering last week. A couple months earlier biochemical maker Gevo launched its IPO to what proved to be a warm reception. Experimental algae-to-fuel company Solazyme is waiting in the wings.
Which company will be next? In November, Venture Capital Journal published a list of the most likely and lucrative cleantech IPOs of 2011. At the top of our list was BrightSource, so we are off to a good start.
Watch our slideshow to see the other six cleantech companies VCJ believes have a very good shot of going public this year. Our investment data comes from Thomson Reuters, publisher of this blog.Continue
If a cleantech company’s IPO creates the “Netscape moment” John Doerr predicted last fall, it could be the offering of BrightSource Energy Inc. The solar thermal plant developer filed for a $250 million initial offering late Friday with investors VantagePoint Venture Partners and Draper Fisher Jurvetson set to be big winners if the stock does […]Continue
BrightSource Energy, the developer of large thermal solar plants in the Southwest, raised another $122.5 million as speculation of a 2011 IPO increases. The company is among the current crop of cleantech startups likely to make the biggest splash with an initial public offering. Its technology harnesses the heat of the sun’s rays to boil […]Continue
The Department of Energy plans another big year of guaranteeing loans for renewable energy projects. In the past 14 months, the DOE’s largest loan guarantee program (called Section 1705) awarded almost $26 billion to 23 renewable energy projects being run by companies such as BrightSource Energy and Abound Solar. The program has the financial assets […]Continue
Cleantech investors expect a better year in 2011. More money will flow to startups, a new crop of better performing IPOs should come to market and M&A might even pick up. Less noticeable but perhaps as important, strategic corporate investors could become more active. All of this comes against a difficult backdrop. The year gone […]Continue
BrightSource Energy today announced $150 million in new VC funding, which it will use to develop utility-scale solar thermal power plants. A couple of readers emailed to ask if it was the largest venture financing of 2010, or even if it should count as a VC deal (as opposed, say, to project finance).
The answer to the first question is “no” (it’s number four) and the answer to the second question is “yes” (it’s equity being contributed by, among others, traditional venture firms).
But it reminded me that it’s been a while since we updated our list of the year’s top VC recipients (so far). Fairly liberal with the term “venture capital,” but that’s why this is an interim list rather than an official/final list. Get it after the jump…Continue
BrightSource Energy Inc., an Oakland, Calif.-based developer of utility-scale solar thermal power plants, has raised $150 million in Series D funding. Alstom and CalSTRS were joined by return backers VantagePoint Venture Partners, Morgan Stanley and Draper Fisher Jurvetson. The company previously raised $172 million.Continue