Global early-stage venture capital investments in energy technology start-ups

Sources

IEA (2021), World Energy Investment 2021. IEA calculations based on Cleantech Group (2021).

Notes

Includes seed, Series A and Series B financing deals. Outlier deals of more than USD 150 million that distort the year-on-year trend are excluded from the deal value; they totalled USD 4.1 billion in 2010, USD 2.2 billion in 2016, USD 850 million in 2017, USD 4.7 billion in 2018, USD 990 million in 2019 and USD 340 million in 2020. “Low-carbon transport” includes alternative powertrains and their infrastructure, among other technologies, but not shared mobility, logistics or autonomous vehicle technology unless specifically designed for the electric mobility market. Within “Renewables”, bioenergy includes transport biofuels but not biochemicals. “Other low-carbon” pertains to CCUS and smart grids. “Conventional fuels” covers fossil fuel extraction and use, fossil fuel-based power generation, and conventional transport fuel economy.