Venture capital investments in cleantech dropped 84% in 1Q09--the lowest level since 2005.
Has the green bubble burst, or will funding return when the global economy finally begins to recover?
"We were in the typical hype cycle--a green-tech investment can do no wrong, therefore incredible dollars were pulled in, even in business models that made no sense," venture capitalist Michael L. Goguen told the New York Times. "When the credit crunch happened and the economy took a nose dive, the brakes screeched on."
Solar companies seem to have been hit the hardest, and some some capitalists said when funding does return to the cleantech sector it will be in other areas, such as batteries and water treatment technologies.
Read the full report at the link below.
