Wednesday, May 04, 2005

Energy venture capital more than doubles in Europe

According to Tornado Insider, as cited in this Red Herring article, funding for energy technology startups in Europe and Israel more than doubled in 2004, reaching more than $200M. (As point of comparison, and as previously noted here, such investments in the US were about $520M last year, up about 2%.)

A few other things of note in the Red Herring article:
  • Yet another energy technology venture fund is being raised (Energy Ventures II, following on the heels of Energy Ventures), this one in Norway, with more than $50M already committed
  • The article mentions several European and Israeli firms that have received funding so far this year
  • This interesting quote from an executive VP at Konarka: "The value of renewable energy is higher in Europe than it would be in the United States." A sentiment that probably explains the dramatic rise in funding there.


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