Venture capital for energy increasing

Venture capitalists are focusing on clean technology for buildings, electric-powered cars and other innovations that make energy more efficient, AP reported in a story repeated by Bloomberg BusinessWeek.

As a result, investments in clean technologies increased 68% to $733.3 million in first-quarter 2010 compared with a year previously, the magazine said, citing a report from Ernst & Young. Some analysts believe the investments will grow as consumers and governments push for it.

That number was a decline from $844.7 million in first quarter 2008.

A report from Cleantech Group and Deloitte said that transportation received more venture capital than any other group. Two of the biggest deals were a $350-million investment in California-based electric Better Place, and $140 million for Fisker Automotive, a California-based developer of plug-in hybrid cars.

Energy efficiency also was a popular sector for investors.

The San Joaquin Valley Clean Energy Organization is a nonprofit dedicated to improving our region's quality of life by increasing its production and use of clean energy. The SJVCEO works with cities and counties and public and private organizations to demonstrate the benefits of energy efficiency and renewable energy throughout the eight-county region of the San Joaquin Valley.