Green-tech investment reach $5 billion in 2007

A news release by the Cleantech Group, an industry organization, states that clean tech investments for 2007 reached over $5 billion and continued their sixth year of growth. According to a Reuters report, energy generation companies received over half the total investments at $2.75 billion followed by energy storage firms ($471 million), transportation firms ($445 million), energy efficiency firms ($356 million), and recycling and waste firms($291 million).

Nicholas Parker, co-founder and Chairman of the Cleantech Group foresees continued growth in the industry due to "high carbon-based energy prices, global resource competition and increasingly favorable policy frameworks."