Green Tech Investment Jumps to $1.7 billion [Green Wombat]
Venture capitalists poured $1.74 billion into North American and European green technology startups in the third quarter, according to a survey by the Cleantech Network, a coalition of investors and companies. That brings total investment to $3.64 billion so far this year, a 13 percent rise over the same period in 2006. Most of the action was in North America, where green tech investment in the third quarter rose to $1.3 billion, a 36 percent jump over 2006. VCs are placing their biggest bets on green energy, which soaked up about 92 percent of the cash. North American investments in solar rose 16 percent to $410 million in the third quarter from the previous quarter while biofuels attracted $215 million.
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