新エネベンチャー　最新動向

Investment in clean energy worldwide has more than doubled in the last

three years, from $27.6 billion in 2004 to $49.6 billion in 2005 and $70.9

billion in 2006, according to New Energy Finance figures

< Venture capital and private equity >

US investment in venture capital and private equity has increased very

substantially in the past three years, and continues to run well ahead of

Europe or Asia.

As the next wave of new energy innovation beckons, US investors appear ready

to seize the moment through early-stage investments in start-ups. Last year, the

US accounted for $4.5bn of the $7.1bn invested by venture capital and private

equity funds in new energy worldwide, or 63% (Figure 4).

While a substantial portion of those US funds went toward the development of

projects that use existing technologies, much also went into new technologies.

When it comes to early stage technology investing, the US out-invested Europe

by a factor of nearly three to one in clean energy in 2005, and seven to one in

2006. US venture capitalists put $390m alone into American solar start ups, for

instance. Companies developing so-called “smart meters” to better track energy

usage, or researching enzymes to make cellulosic ethanol commercially viable,

or finding ways to reduce CO2 emissions from coal plants, among others have

all received funding.

The surge in venture capital washing across the sector is not without its risks.

Early stage investment made up less than 5% of the total $70.9bn of new money

invested in the industry last year. New Energy Finance is aware of no fewer than

1,246 technology incubators, venture capital funds, private equity firms and

corporations with a declared strategy of targeting clean energy (Figure 5). Half of

them are US-based.