[qi:_earth2tech] If you thought investment in the cleantech sector would never rival that of information technology, well, you underestimated the impact of the recession and subsequent stimulus package. Researchers from the Cleantech Group and Deloitte Consulting said this morning that in the third quarter — for the first time ever — cleantech made up the largest portion of U.S. venture investment, with 134 companies taking in $1.59 billion. Cleantech investments accounted for 27 percent of total U.S. venture investing in the most recent three-month period, while biotech accounted for 24 percent and software, 18 percent.
Why? Thank the government. No other sector has seen as much support from the U.S. stimulus package. As Dallas Kachan, managing director of the Cleantech Group, pointed out, the top cleantech deals this quarter — including the funds raised by electric car maker Tesla and thin-film solar company Solyndra, and the public trading debut of lithium-ion battery company A123Systems — were propped up by federal funding.
The question now is: If venture investing returns to information technology and biotech, will cleantech stay on top?
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