Venture capital to the tune of US$350 million in 33 deals was handed out to solar-based firms in the third quarter of 2011, according to the latest roundup by Cleantech Group. Also of note was a reported US$812 million raised by four China-based solar cell/module manufacturers via IPO’s, though the release did not highlight the companies involved.
Cleantech Group noted that CIGS thin-film start-up, HelioVolt, had raised US$85 million from New Enterprise Associates and SK Group in the quarter, while CaliSolar raised US$26 million from undisclosed investors.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
Black Coral Capital, Spring Ventures and other unidentified investors placed a round of funding worth US$50 million with OneRoof Solar, a California-based developer, owner and operator of solar energy generation systems for the residential market.
“While financing remains constrained, it’s great to see growth in venture activity,” said Sheeraz Haji, CEO of Cleantech Group. “Energy Storage emerged as our top sector, indicating continued strong interest in advanced technologies for grid-storage as well as for electric vehicles. Global enterprises continue to investment aggressively into cleantech.”
According to Cleantech Group, VC investments increased 12% compared to US$2.23 billion across 189 deals. In the previous quarter US$1.98 billion was invested across 179 deals.
