FOR IMMEDIATE RELEASE

Clean Technology Venture Investment Continued Recovering in 3Q09

Spurred By Economic Stimulus Investment

Landmark IPO and new funds also signal broadening confidence

in clean technology, now the leading venture investment category

BEIJING, October 1, 2009 – The Cleantech Group™, providers of leading global market
research, events and advisory services for the clean technology (cleantech) ecosystem, along
with Deloitte, which provides audit, tax, consulting and financial advisory services to cleantech
companies, 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 significant
declines in 4Q08 and 1Q09 paralleling the global economic downturn. Following a rebound in
2Q09, 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 begun
emboldening private capital, which has in turn helped propel clean technology to the leading
venture investment sector, now eclipsing biotech and IT,” said Dallas Kachan, Managing
Director, Cleantech Group. “The two largest venture deals (Solyndra and Tesla Motors) and the
largest 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 government
stimulus and regulatory requirements to meet renewable portfolio standards are helping to drive
continued 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 to
capital 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 and
expect this trend to continue as cleantech projects become more economically viable and
desirable for utilities.”
BY TECHNOLOGY SECTOR
The leading clean technology investment sector was solar, which rose from the previous
quarter’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 was
transportation—subsectors of which include vehicles, biofuels and advanced batteries- which
received $383 million. Green buildings—including energy efficient buildings, glass and lighting
subsectors—had a strong quarter, with investment of $110 million. The largest transactions in
each technology sector were:

• Solar - $451 million

Deals included: California-based thin film company Solyndra, which raised $198 million
from a group of investors led by Argonaut Private Equity; California-based SolFocus, a
developer of concentrating PV systems, which closed its Series C fundraising on $77.6
million 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 $18
million 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 Capital
Management; Think Global, the Norwegian electric car manufacturer, which officially
announced 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 million
as 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; and
iControl Networks the California-based developer of broadband home management systems
for controlling energy usage, which raised $23 million in Series C funding from Tyco
International’s ADT Security Services, Cisco, Comcast Interactive Capital, GE Security, and
existing venture capital backers.

M&As AND IPOs

Clean technology M&A dropped in 3Q09 from the previous quarter, totaling an estimated 98
deals, 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 to
date, A123Systems made its long awaited debut on the NASDAQ Global Market, in which the
company 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 farm
developer Indian Energy, which began trading on London’s AIM, raising $16.2 million, and
India-based Euro Multivision, which raised $13.5 million on the Bombay Stock Exchange for the
company'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 from
3Q08. As the most significant region for VC investment, the sector trends broadly match
those 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) in
investment, followed by Colorado ($47 million, 4 percent).
• EUROPE AND ISRAEL: Europe and Israel received 29 percent of the total, raising
USD $457 million in 53 disclosed rounds, up 61 percent from 2Q09 yet down 42 percent
from 3Q08. Energy generation ($246 million, 21 deals) received the most investment,
followed by vehicles ($51 million, three deals). The largest deal was Norwegian electric
car maker Think Global, which emerged from bankruptcy and announced a $47 million
round, 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 fuel
cell company Intelligent Energy, which raised $30 million. The UK led with $125 million
in 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 million
in three clean technology VC deals: Nobao Renewable Energy attracted USD $25 million
from Tsing Capital to develop geothermal heating and cooling technology; Nanjing City
Control Information Technology raised USD $14.6 million to develop smart
transportation control systems; and thin film solar and building integrated photovoltaic
company Wuhan Rixin Technology attracted USD $2.2 million. Four private equity deals
were tracked, totaling USD $886 million. Three M&A deals were tracked totaling more
than USD $146 million. Two of the deals involved solar companies and one involved
waste 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 was
significantly lower than the previous quarter (USD $134 million) and 3Q08 (USD $185
million). Five M&A deals were tracked with a total value of USD $142 million (of which
two deals amount were not disclosed). Energy generation attracted most interest and in
particular the wind sector. Companies involved in M&A deals this quarter were
Schneider Electric India, Techno Electric & Engineering, Chloride Group, Luminous
Power Technologies and IDFC Private Equity. Mumbai-based Euro Multivision had an
IPO in September in to raise capital and consolidate its solar photovoltaic manufacturing
unit in Gujarat. Chennai-based industrial water solution provider VA Tech Wabag
announced plans to raise USD $100 million via an IPO next year.

TOP INVESTORS
3Q09 Most Active Cleantech Venture Funds
Venture Capital Firm # of rounds Companies
Intel Capital 6 Ozmo Devices, Powervation, CPower, Grid Net,
iControl Networks, Convey Computer Corporation
Kleiner Perkins Caufield 5 Amyris Biotechnologies, Applied Process
& Byers Technology, Hara Environmental and Energy
 Management, iControl Networks, Solasta
New Enterprise 4 Glacier Bay, Liquidia Technologies, RT Outsourcing
Associates Services, SolFocus
Braemar Energy Ventures 4 General Fusion, Grid Net, Convey Computer
Corporation, Solicore
Source: Cleantech Group (cleantech.com)

Key takeaways reviewed in webinar next week

The Cleantech Group and Deloitte will review key findings of their 3Q09 data in a live webinar
on October 6, 2009 at 11AM EST / 8AM PST / 16:00 GMT, exclusively for members of the
Cleantech Group’s Cleantech Network. Network members may join the live meeting at
http://cleantech.acrobat.com/research/ a few minutes before the event, and will need their email
address and Cleantech Network password to log in. Members unsure of their passwords can
contact Cleantech Group at +1 810-224-4310 x.7151 or can retrieve their password at
http://cleantech.com/memberpassword.cfm.

This press release is not a research report and nothing herein is intended to be nor should be
construed as investment advice. Neither Cleantech Group, LLC nor Deloitte recommends that
any financial product should be bought, sold or held by any individual or entity, and nothing in
this press release should be construed as an offer, or the solicitation of an offer, to buy or sell
securities by Cleantech Group, LLC or Deloitte. Investors should not make any investment
decision without consulting a fully qualified financial adviser.

About the Cleantech Group, LLC

The Cleantech Group pioneered the clean technology investment category in 2002. Today, it
accelerates the development and market adoption of clean technologies globally. The company’s
worldwide network of investors, entrepreneurs, enterprises, service providers and others—
representing trillions of dollars in assets—receives access to capital, investment deal flow,
networking, market leading research and data, sales leads and promotional opportunities. The
Cleantech Group also provides advisory services for large corporations and governments,
publishes leading cleantech sector industry news coverage and produces the premier Cleantech
Forum® events worldwide. Details are available at http://www.cleantech.com.

About Deloitte
As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see
www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and
its subsidiaries.
SOURCE:
Cleantech Group, LLC

CONTACTS:

For Cleantech Group, LLC:

Elke Heiss
Sterling Communications, Inc.
601 Montgomery St, Suite 780
San Francisco, CA 94111
Tel: (415) 392-3209
Email: eheiss@sterlingpr.com

For Deloitte:
Cory Ziskind
Deloitte
+1 212 492 4408
cziskind@deloitte.com

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