FOR IMMEDIATE RELEASEClean Technology Venture Investment Continued Recovering in 3Q09Spurred By Economic Stimulus Investment

Landmark IPO and new funds also signal broadening confidencein clean technology, now the leading venture investment category

BEIJING, October 1, 2009

– The Cleantech Group™, providers of leading global marketresearch, events and advisory services for the clean technology (cleantech) ecosystem, alongwith Deloitte, which provides audit, tax, consulting and financial advisory services to cleantechcompanies, today released preliminary 3Q09 results for clean technology venture investments in North America, Europe, China and India totaling $1.59 billion across 134 companies.Cleantech venture investment continued its recovery in the third quarter of 2009, after significantdeclines in 4Q08 and 1Q09 paralleling the global economic downturn. Following a rebound in2Q09, the 3Q09 total is up a further 10 percent compared to the previous quarter, yet down 42 percent from the same period a year ago.“The billions in government funding being allocated globally in clean technology have begunemboldening private capital, which has in turn helped propel clean technology to the leadingventure investment sector, now eclipsing biotech and IT,” said Dallas Kachan, ManagingDirector, Cleantech Group. “The two largest venture deals (Solyndra and Tesla Motors) and thelargest IPO (A123Systems) this quarter were all recipients of U.S. government funding.Hundreds of millions of dollars in new venture funds this quarter are also evidence of investor confidence and momentum, including $1.1 billion in two new funds by Khosla Ventures alone.”“The extension of tax credits for renewable-based power generation along with governmentstimulus and regulatory requirements to meet renewable portfolio standards are helping to drivecontinued investment on the part of VCs and utilities into the cleantech sector,” said Scott Smith,U.S. leader of Deloitte’s Clean Tech practice. “Utilities are increasingly bringing their access tocapital to the sector through direct investment and power purchase agreements, driving new projects and increased capacity. We continue to see utilities investing in wind and solar andexpect this trend to continue as cleantech projects become more economically viable anddesirable for utilities.”

BY TECHNOLOGY SECTOR

The leading clean technology investment sector was solar, which rose from the previousquarter’s 13 percent to 28 percent of venture investment, but still only received $451 million,down from a high of $1.2 billion invested in 3Q08. The second highest area of investment wastransportation—subsectors of which include vehicles, biofuels and advanced batteries- which

received $383 million. Green buildings—including energy efficient buildings, glass and lightingsubsectors—had a strong quarter, with investment of $110 million. The largest transactions ineach technology sector were:

•

Solar - $451 million

Deals included: California-based thin film company Solyndra, which raised $198 millionfrom a group of investors led by Argonaut Private Equity; California-based SolFocus, adeveloper of concentrating PV systems, which closed its Series C fundraising on $77.6million from investors including Apex Venture Partners, New Enterprise Associates, NGEN,Yellowstone Capital, Demeter Partners, and affiliates of Advanced Equities; and California- based SunRun, a residential power purchase agreement (PPA) provider, which raised $18million from Accel Partners and Foundation Capital.

•

Transportation (including Vehicles, Advanced Batteries & Biofuels) - $383 million

Deals included: Tesla Motors, the California-based electric car manufacturer, which raised$82.5 million in funding from a group of investors led by London-based Fjord CapitalManagement; Think Global, the Norwegian electric car manufacturer, which officiallyannounced a $46 million round; and Amyris Biotechnologies, the California-based developer of a synthetic platform to create renewable fuels and chemicals, which secured $24.8 millionas part of an ongoing $62 million Series C funding round.

•

Green Buildings (including Energy Efficient Buildings, Glass & Lighting) - $110 million

Deals included: Serious Materials, the California-based developer of a range of green building materials, which raised $60 million in Series C funding from Mesirow Financial,Enertech Capital, Cheyenne Partners, Saints Capital, as well as existing investors; andiControl Networks the California-based developer of broadband home management systemsfor controlling energy usage, which raised $23 million in Series C funding from TycoInternational’s ADT Security Services, Cisco, Comcast Interactive Capital, GE Security, andexisting venture capital backers.

M&As AND IPOs

Clean technology M&A dropped in 3Q09 from the previous quarter, totaling an estimated 98deals, of which totals were disclosed for $5.9 billion.In the leading cleantech IPO of the quarter, and one of the most significant cleantech exits todate, A123Systems made its long awaited debut on the NASDAQ Global Market, in which thecompany raised $380 million at a company valuation of $1.3 billion (which rose to $1.9 billion by the close of day one trading). Other clean technology IPOs recorded in 3Q09 were wind farmdeveloper Indian Energy, which began trading on London’s AIM, raising $16.2 million, andIndia-based Euro Multivision, which raised $13.5 million on the Bombay Stock Exchange for thecompany's photovoltaic solar cell manufacturing unit.

BY GEOGRAPHY

North America continued to attract the largest percentage of clean technology venture capital,with Europe and Israel in 3Q09 in second place at 29 percent.

•

NORTH AMERICA:

North America accounted for 67 percent of the total, raising USD$1.1 billion in 73 disclosed rounds, up 8 percent from 2Q09 and down 42 percent from3Q08. As the most significant region for VC investment, the sector trends broadly matchthose described globally. The region accounted for the four largest venture deals(Solyndra, Tesla Motors, SolFocus and Serious Materials) as well as the largest IPO(A123 Systems). California led the way, with $655 million (61 percent total share) ininvestment, followed by Colorado ($47 million, 4 percent).

•

EUROPE AND ISRAEL:

Europe and Israel received 29 percent of the total, raisingUSD $457 million in 53 disclosed rounds, up 61 percent from 2Q09 yet down 42 percentfrom 3Q08. Energy generation ($246 million, 21 deals) received the most investment,followed by vehicles ($51 million, three deals). The largest deal was Norwegian electriccar maker Think Global, which emerged from bankruptcy and announced a $47 millionround, part of which had been announced in Q209. There were also large deals for Irish bio-energy company Imperative Energy, which raised $43 million, and UK-based fuelcell company Intelligent Energy, which raised $30 million. The UK led with $125 millionin 17 deals, with France in second position with $72 million in 10 deals.

•

CHINA:

China received 3 percent of the total VC investment, raising USD $41.8 millionin three clean technology VC deals: Nobao Renewable Energy attracted USD $25 millionfrom Tsing Capital to develop geothermal heating and cooling technology; Nanjing CityControl Information Technology raised USD $14.6 million to develop smarttransportation control systems; and thin film solar and building integrated photovoltaiccompany Wuhan Rixin Technology attracted USD $2.2 million. Four private equity dealswere tracked, totaling USD $886 million. Three M&A deals were tracked totaling morethan USD $146 million. Two of the deals involved solar companies and one involvedwaste to energy companies.

•

INDIA:

Indian cleantech companies raised USD $21.5 million in five investment rounds(of which one deal amount was not disclosed). The amount invested in 3Q09 wassignificantly lower than the previous quarter (USD $134 million) and 3Q08 (USD $185million). Five M&A deals were tracked with a total value of USD $142 million (of whichtwo deals amount were not disclosed). Energy generation attracted most interest and in particular the wind sector. Companies involved in M&A deals this quarter wereSchneider Electric India, Techno Electric & Engineering, Chloride Group, LuminousPower Technologies and IDFC Private Equity. Mumbai-based Euro Multivision had anIPO in September in to raise capital and consolidate its solar photovoltaic manufacturingunit in Gujarat. Chennai-based industrial water solution provider VA Tech Wabagannounced plans to raise USD $100 million via an IPO next year.

TOP INVESTORS3Q09 Most Active Cleantech Venture FundsVenture Capital Firm# of roundsCompanies

Intel Capital6Ozmo Devices, Powervation, CPower, Grid Net,iControl Networks, Convey Computer CorporationKleiner Perkins Caufield& Byers5Amyris Biotechnologies, Applied ProcessTechnology, Hara Environmental and Energy