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Clean technology edged out biotechnology to become the largest recipient of venture investment in the United States in the third quarter of 2009, according to new research by the Cleantech Group and Deloitte.
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“The billions in government funding being allocated globally in clean technology have begun emboldening private capital, which has in turn helped propel clean technology to the leading venture investment sector,” said Dallas Kachan, managing director of the Cleantech Group.
Clean technology investments made up 27 percent of total venture capital in the United States in the third quarter of this year, adding up to just above $1 billion. Globally, the sector received $1.59 billion across 134 companies.
The leading investment in the group globally was solar, which received $451 million, and the transportation sector—including vehicles, advanced batteries and biofuel—which came in a close second, received $383 million in venture investment.
The top four clean tech recipients of venture capital funds last quarter were companies that benefited from government support, according to the Cleantech Group.
The top recipient, solar manufacturer Solyndra, which received $198 million in venture investment, finalized earlier this month a $535 million loan guarantee with the US Department of Energy.
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