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Cleantech investment surges 120% in 2008

By Zhang Qi (chinadaily.com.cn)
Updated: 2009-03-03 14:29

The Chinese mainland saw venture capital (VC) and private equity (PE) investment in cleantech surge 120 percent year-on-year to $1.3 billion in 2008 despite the economic downturn, according to a report released by market researcher Zero2IPO on Tuesday.

In 2008, domestic and overseas VC and PE companies invested in 55 cleantech deals, up 175 percent from 2007.

Between 2006 and 2008, VC and PE companies raised capital worth $2.36 billion in cleantech, of which 60 percent went for solar energy, said the report.

Water treatment also accounted for a large proportion of the total cleantech investment, reaching $287 million in 12 deals.

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