The recession has hit clean technology hard, with venture capital financing down 48% in the first quarter to the lowest level since 2006, the NY Times Green Inc blog reports. The blog states:
The good news — of a sort — is that other sectors appear to be hurting more. Clean tech now draws the most venture investments of any sector, recently surpassing software or biotechnology, according to the Cleantech Group.
The stimulus package, and the president’s emphasis on renewable energy, may also breathe new life into Silicon Valley, Boston and other clean-tech hubs.
Solar companies brought in the most money in the first quarter, but even they might be topping out.
That doesn’t mean environmental investment is dwindling. Just consider the $2,000 car from India’s Tata motors that gets 55-miles a gallon, though come to think of it, that price point may mean a lot more cars on the Indian subcontinent.