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Clean technology investments top $1 billion, according to the latest MoneyTree report from PricewaterhouseCoopers and the National Venture Capital Association.
The Clean Technology sector, which crosses traditional MoneyTree industries and comprises alternative energy, pollution and recycling, power supplies and conservation, saw a 26 percent increase in dollars over the fourth quarter to $1 billion.
The report attributes the increase being driven by several large rounds, including five of the top 10 deals.
Last year’s report showed an 87 percent increase to clean tech. This quarter also marks the fourth time in history that Clean Technology investing exceeded one billion dollars.
With gasoline costs on the rise and the emphasis from governments to create alternative energy solutions, it’s no wonder that the clean tech sector has a boost in investment.