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Cleantech, Sustainable Energy Funding Up

Updated, 12:30pm: Wilson Sonsini creates cleantech funding source portal.

The Silicon Valley / San Jose Business Journal is reporting that third-quarter venture-funded cleantech deals were up 46% to almost a billion dollars. With SunCal’s looming implosion at Alameda Point, it’s time to re-direct some of that money to sustainable energy research and cleantech companies that can re-use the existing buildings at the former base.

The article reports that $965 million was funded in 50 financing rounds through the quarter and increase of almost 50% over the prior quarter. The Alternative fuels category raised $71 million, an increase is of 58%

The report also notes that the federal government was active in the sector too:

As of the end of September, New Energy Finance tracked $18.2 billion in disbursed American Reinvestment and Recovery Act (ARRA) funds to state and local agencies for energy efficiency, renewable energy, grid improvements and carbon capture and sequestration. NEF estimates that $9.5 billion in ARRA funding in these categories has actually been spent in the market. This growing pipeline of stimulus spending, which NEF expects to peak in 2010 or 2011, contributes to cleantech market confidence.

Now if only Alameda City Council will step up to the plate and start lobbying for some of that money to land at Alameda Point.

Maybe Wilson Sonsini’s cleantech funding sources portal will help.

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