Funding Clean Energy Start-ups Post-Bubble, Post Stimulus
Remember the 2008 gold rush? That was the banner year for clean tech investing. Not only did venture capital firms invest more than $6 billion in clean tech companies, but the Federal “stimulus” package included massive investments in clean energy: $11 billion for smart grid projects, $2 billion for electric car battery programs, $3.4 billion for “clean coal".
Now all that’s over. In 2010 VCs invested $1 billion less in clean tech than they had in 2008. It’s doubtful that this year’s investment will hit even that level, as VC investment is down overall and investor sentiment seems to be moving against the sector. And Federal money? Forget about it. In the current budget climate, Federal dollars going to early-stage clean tech will almost certainly decline – witness the current proposal to slash the DOE’s $41 billion loan-guarantee program for renewable energy ventures.
So does this mean that, as the Wall Street Journal put it, “clean tech entrepreneurs caught in the valley of death are losing [their] lifeline?” Not necessarily. Clean tech is still one of the few trillion dollar opportunities out there, and capital wants to find good deals that can exploit that opportunity. But in today’s climate, clean tech executives will have to be more creative and more proactive in order to find those dollars.
Our May 25 CleanTX Forum addresses this new funding environment. Our panel features the traditional sources of private capital, venture capitalists and angel investors. But it also includes representation from some of the “new” sources of capital that clean tech companies may need to engage – strategic investors from the “old” energy industry, private equity firms looking for consolidation opportunities, and non-stimulus sources of public money.
We hope you can join us!
Moderator:
Isaac Barchas, Director, The Austin Technology Incubator
Speakers:
Bill Ott, President & CEO, Actacell
Kirk Brand Coburn, Managing Director, Efficient Energy Accelerator
Kevin Boston, Corporate Development and Strategy, Pason Systems Corp.
Sumit Sarkar, Manager, NRG Venture Investments
Jim Graham, Senior Associate, Sante Ventures
