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CCBJ-Jul-2010.zip

CCBJ-Jul-2010.zip

CCBJ Vol III No 07: Investment & Finance in the Climate Change Industry

CCBJ analyzes trends for all types of equity finance, from venture capital to sovereign wealth funds, as well as government support programs and the project finance debt that is so critical to clean energy projects. Analysts, financial services consultants and market participants discuss the significance of $185 billion in global stimulus spending and reveal the challenges for the climate change industry to convert investors who are waiting for proof of sustained performance.

Inside this edition:

  • While VC investment in cleantech rebounded in 2010, more VC money than usual has been invested in additional rounds to sustain existing portfolio companies and less allocated to new companies. Funds operate in a tough fundraising environment, and ambitions to take portfolio companies public have been stymied. In 2009, the number of financing rounds in energy efficiency, including smart grid and energy management, grew by 11%, making it the number one area of cleantech deal activity.
  • In 2009, 32 cleantech IPOs raised $4.7 billion, but half of those were in China, led by wind developer China Longyuan Electric Power. In the United States, battery maker A123 Systems raised $380 million, although its share price has struggled. In 2010 there has been less cleantech IPO activity than anticipated. Electric car company Tesla Motors went public raising $226 million, and biofuels developer Codexis raised $78 million. Waiting in the IPO wings in mid-2010 are ESCO Ameresco, renewable fuel tech firm Amyris and smart grid outfit Silver Springs Network.
  • Drawing on dozens of reports, this edition of CCBJ packages historic data and trends, including investment type and sectors, for Sustainable Energy Investment from 2004 through 2009 and Cleantech Venture Investment from 2002 through the first half of 2010.

Interviews:

ArcLight Capital Partners, Bloomberg New Energy Finance, Chadbourne and Parke, Cleantech Group, DB Climate Change Advisors, Deloitte, Draper Fisher Jurveston, Ernst & Young, GE Capital, JP Morgan Capital, KPMG International, Mercer, Milbank Tweed Hadley, McCloy, PCG Asset Management, Preqin, RiskMetrics Group, Rockport Capital, Russell Investments, Siemens Financial Services, State Street Global Advisors, U.S. Renewables, Verdigris Capital and others.

 

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