Venture Capital Investment in Renewable Energy Soars to $3.4 Billion in 2007

Investment Pace Will Stay Steady Through 2009 According to
Greentech Media
CAMBRIDGE, Mass.--(Business Wire)--According to newly released data from Greentech Media, Inc.,
venture capital investment in renewable energy reached an
unprecedented level of $3.4 Billion in 2007. Investment in solar power
led the VC charge with more than $1.05 Billion invested in more than
70 VC financing rounds. Also winning record amounts of renewable
energy funding was investment in battery technology at $433.9 Million
and in the energy efficiency/smart grid sector at $419.1 Million.
Venture firms continue to invest in biofuels such as cellulosic
ethanol and biodiesel, with more than $750 Million directed towards
these new feedstocks and technologies.

"VC investment in renewable energy in 2007 was up 50% over the
previous year with more than 220 funding rounds across the entire
spectrum of renewable energy - from solar to batteries to energy
efficiency," said Eric Wesoff, senior analyst at Greentech Media. He
added, "Investors are looking for 2008-2010 to be the years of
renewable energy exits."

"Cleantech and Renewable Energy continue to be attractive
investments for venture capitalists," said Ira Ehrenpreis, a General
Partner at Technology Partners. He added, "These figures from (The
Venture Power Report) bear out our investment thesis that there is
good business in Cleantech."

Notable alternative energy VC funding rounds in 2007 included
HelioVolt's $101M for thin film photovoltaics, Great Point's $100M for
coal gasification, Amyris' $70M for synthetic biology and biofuels,
and A123's $70M for innovative battery technology.

Wesoff, author of the Venture Power Report, added, "We see these
investment numbers staying steady through 2009 as investors continue
to nurture their current portfolios and look for new opportunities."

More information about the Venture Power Report can be found at
the Greentech Media website:

http://www.greentechmedia.com/research-venture-power.html.

About Greentech Media

Greentech Media is an integrated online media company designed to
deliver the highest-quality content in the industry, whether it is
research, news or critical networking events. Greentech Media is
headquartered in Cambridge, Mass., New England's educational- and
technology-innovation center, with operations in New York City and San
Francisco. For more information, visit http://www.greentechmedia.com.

About The Venture Power Report:

Published by Greentech Media, the Venture Power Report covers
renewable energy and clean power with a focus on venture capital
investment, technology commercialization, and start-up exits. The
Report has been published since 2004 and reaches thousands of VCs,
CEOs, and senior technologists. For more information visit
http://www.greentechmedia.com/research-venture-power.html.

Greentech Media, Inc.
Eric Wesoff, 650-346-5600
wesoff@greentechmedia.com
www.greentechmedia.com

Copyright Business Wire 2008