Investment in green tech grows, Chinese buy 37 percent more cars
Investments in green technologies keep growing.
Venture capitalists invested a record $2.9 billion into North American companies active in clean technologies in 2006, a 78 percent increase over 2005′s $1.6 billion, according to the Cleantech Venture Network.
They invested $613 million in the fourth quarter, 22 percent more than the amount invested during the same quarter last year, or $502 million.
Notably, investments in 2006 doubled or more in the sub-categories of energy storage, recycling and transportation, when compared to 2005.
Wonder if this will help offset the effect caused by the number of new Chinese car buyers, which jumped 37 percent last year? Evidence suggests global warming may be accelerating.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
