INNOVATORS' MONEY STILL BACKS SUN

Tracking The Deal Flow: Venture Capitalists Still Favoring Solar Firms
13 October 2011 (Solar Industry)

"The solar sector enjoyed a "solid" quarter with regard to venture-capital (VC) funding and mergers and acquisitions (M&A) activity, according to a new report by Mercom Capital Group.

"VC funding for solar companies was steady in the third quarter of this year, coming in at $372 million - compared to $354 million in the second quarter. Forty-two different VC investors participated in 29 disclosed deals…"

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"The top five funding deals included an $85 million raise by HelioVolt, a manufacturer of thin-film copper indium gallium selenide modules. OneRoof Energy, a developer, owner and operator of solar energy generation systems for residential markets raised $50 million in a Series A round…

"Solar downstream companies attracted the most funding this quarter, closely followed by thin-film companies, the report says. Downstream companies attracted $130 million in 11 deals, and thin-film companies attracted $125 million in five deals…M&A activity came in at $563 million in 20 transactions, with details disclosed for only eight…"