Biggest Winner Yet Again: California Clean Tech Companies Get Most VC Funding

Congratulations, yet again, to California. The state’s clean tech companies received the most VC funding in the second quarter of this year, according to the latest numbers released by the Cleantech Group and Deloitte.

Global investments totaled $2.02 billion. Smart grid, renewable energy, biofuels and transportation companies were funded, with solar being the quarter’s largest recipient ($811 million), followed by biofuels ($302 million) and smart grid companies ($256).

California had the most deals at $980 million or 67 percent of North America’s total, which accounted for 72 percent of global investments.  All told, funding was almost 50 percent higher than the same period last year.

The continued strong showing in clean tech VC activity is exciting for many reasons.  It is helping us get to where we need to be: ready for a future of domestic clean and abundant energy, able to compete in a global market with an estimated annual value of  $1 trillion and create an economy that employs tens of thousands of people.  All of which will improve our national and economic security.

California is building upon the nation’s largest clean economy, which is one of the state’s bright spots. More than 12,000 clean tech companies call California home and are creating jobs nearly 10 times the rate as the state’s other industries.

To showcase that good news, the California Business Alliance for a Green Economy recently launched “California Bright Spot,” a site featuring a steady stream of stories about investments in and the growth of the state’s vibrant clean economy.

It’s no coincidence that this market leadership is due to California’s legacy pioneering  energy and climate policies that set a national precedence. It is further proof that laws such as AB 32, the state’s landmark energy and climate law, are already benefitting the Golden State.

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