RENEWABLOG

VCs, States & Stimulus Continue to Fuel Cleantech; Light Shines on LEDs & Plasma

April may be taxing for many, but for the Cleantech industry it seems as though things hit rock bottom in Q1. Based on the news of the last two weeks, April funding showers may bring Q2 flowers.

Venture capital, state tax credits and stimulus money have started flowing into a number of cleantech and energy markets, giving the market a lot to PR about. During this week alone, we have seen two lighting-related technology companies announce a round of funding. Nuventix and Luxim each scored rounds for different approaches to the sustainable lighting issue, with the former cooling LEDs and the latter offering a plasma-based ligthing technology.

Meanwhile, energy storage technologies, such as batteries and fuel cells, are getting big tax breaks in Michigan to the tune of $300 million. Technologies that help replace lost auto manufacturing jobs will likely get some public affairs love from states like Michigan, Ohio and Indiana for the rest of 2009 and beyond. The DOE is also joining the party by kicking in $41.9 million in stimulus funds for fuel cell technologies.

Can the cleantech industry sustain the momentum into May? With Wind Power 2009 on the horizon, I expect we'll see some signficiant news from major renewable manufacturers related to that space. We then move into Intersolar Munich before we get to June. Everything considered, it looks as though cleantech could be rebounding from the funding doldrums that slowed things in Q1.

Posted by Jason Morris on April 16, 2009 at 5:27 PM
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