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INVESTING

Green-tech companies draw biggest share of venture capital in third quarter

October 01, 2009|Todd Woody

Green-technology firms attracted the largest share of venture capital in the third quarter, with global investments rising to $1.59 billion, according to a survey released Wednesday by Cleantech Group and Deloitte & Touche.

That's a 10% increase from the second quarter but still down 42% from the same period last year.

Dallas Kachan, managing director of Cleantech, said that the third-quarter numbers were preliminary and that he expected total investment to have risen by 15% to 20% when the final figures are calculated.

"Clean tech continues its recovery despite the lowest level of venture capital investment overall since 1997," Kachan said. "Clean tech has gone from a niche category to 27% of all venture investment."

The biggest deals were for firms that have won federal loans and grants. Silicon Valley solar panel maker Solyndra raised $198 million and also scored a $535-million loan guarantee. Electric-car maker Tesla Motors raised $82.5 million and received a $465-million low-interest government loan.

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