Cleantech and other green investments are good bets these days. The second quarter venture investment figures totaled $2 billion in 96 companies worldwide. That’s a 58 percent increase over last year’s figures and a 48 percent increase over the first quarter. It’s a new record. These numbers were released yesterday in a report from the Cleantech Group.

The third quarter of 2007 was the previous record for cleantech venture investments: $1.8 billion in just 3 months. Investors are starting to look for energy alternatives, and cleantech research appeals to them.

"There's a growing awareness of the severity and scope of the problems that cleantech is trying to address," said Brian Fan, senior director of research for the Cleantech Group.

While there are some concerns that cleantech investing might produce a bubble, there are such a wide variety companies looking for investors that control still remains with those same investors. It is only when companies can essentially get capital just for the asking that they risk a bubble.

Especially significant in the second quarter numbers is the funding that second-generation biofuels have received. Range Fuels, Sapphire Energy, Mascoma and seven other companies raised $280 million — $84 million for algae-based biofuels and $136 million for cellulosic ethanol.

Image — Cleantech Group