Clean tech investing to hit $1.5 billion this year

Venture capitalists sunk $369 million into start-ups promoting alternative energy and products that leave less of a dent on the environment during the second quarter, according to the CleanTech Venture Network, which tracks the industry.

In the first half, clean investments totaled $705 million, up 21 percent from the year before. Overall, the firm said that clean tech investments should rise to $1.5 billion for the year, up 25 percent.

An emerging trend last year, investing in clean tech started going mainstream in part because of rising oil prices, fears about global warming and more recently fears about a shortfall in refinery capability. While energy has attracted the most interest, investors have also begun to tap companies with water purification and testing systems.

Active firms included RockPort Capital Partners, Mohr Davidow Ventures and Draper, Fisher, Jurvetson.

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    Michael Kanellos is editor at large at CNET News.com, where he covers hardware, research and development, start-ups and the tech industry overseas.

     

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