GTM has covered VC investment and IPO activity in cleantech for a decade -- and it's not a pretty story. We've covered the cleantech investment attempts of startup accelerators and corporate investors in cleantech, as well. Still, there's a short list of cleantech IPOs and exits, and an even shorter list of successful long-term company creation. The list includes EnerNOC, SolarCity, Tesla, Silver Spring, Opower, Enphase, Sunrun, SolarEdge, Vivint Solar, eMeter and Nest. Bloom Energy has reportedly filed a confidential IPO registration.
The cleantech industry will have to do better than that if it aims to replace fossil fuels.
And yet, some VCs are still willing to invest in the non-selfie-driven economy. Here's some recent funding activity in cleantech.
T.J. Rodgers, founder of Cypress Semiconductor, and John Doerr, chairman of Kleiner Perkins, have emerged as white-knight saviors for troubled solar microinverter firm Enphase. The Silicon Valley icons are investing $10 million in the firm, and Rodgers is joining the board of directors. Kleiner was an investor in Enphase under the normal order of things, back when it was a startup.
Doerr has invested in some of venture capital's most famous successes (Google, Amazon, Sun, Intuit), as well as in some less-than-successful efforts (GO Corporation, MyCFO, Segway). He spearheaded KPCB's investment efforts in green tech, including funding Silver Spring Networks, Fisker Automotive, Bloom Energy, Opower and Proterra. T.J. Rodgers is the founder of Cypress Semiconductor, a force in Silicon Valley, and an early equity investor in SunPower.
Rodgers and Doerr are also on fuel-cell vendor Bloom Energy's board.
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