You could call it the cleantech cliff: Global clean-technology venture investment plunged to $6.46 billion in 2012, down 33 percent from the $9.61 billion invested a year ago, according to San Francisco-based research and consulting firm Cleantech Group.
"2012 was a difficult year for the sector," Sheeraz Haji, CEO of the Cleantech Group, said during a conference call Thursday. "Anyway you cut it, there's been a significant drop-off."
Haji cited several reasons for investor skittishness. The low price of natural gas has made it harder for renewable energy to compete on cost. Venture capitalists are shying away from capital-intensive deals after seeing companies like Santa Clara-based Misasolé sold at fire sale prices. And global economic uncertainty took a toll: Several privately backed cleantech companies, including Oakland's BrightSource Energy, were forced to shelve their IPO plans and raise additional funds from existing investors.
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