Despite Drought, Water Tech Investments Decline
Silicon Valley investors arenâ€™t opening their pocketbooks for water and wastewater technology startups, despite Californiaâ€™s worsening drought and water restrictions imposed by Gov. Jerry Brown earlier this month.
The New York Times reports new investments in water startups declined 39 percent last year to $358 million, with the number of deals falling by 42 percent to the lowest level since 2009, according to Cleantech Groupâ€™s i3 research group.
Brook Porter, a partner in Kleiner Perkins Caulfield and Byers Green Growth Fund, tells the newspaper that the market is â€śdauntingâ€ť for startups, adding the problems are market-based â€” inefficient or nonexistent pricing mechanisms and inflexible regulatory bodies and rules â€” as opposed to technology-based. â€śWater is not a rational market today,â€ť he says.
Photo Credit: crop irrigation via Shutterstock
Energy Manager News
- Local, State and the Federal Government Excel at Energy Efficiency
- CA, MA Tie for ACEEE Top Spot
- Integrated Dimmer/LED from Energy Focus
- In Duluth, This Monthâ€™s Utility Bills Include a Little Something Extra
- PSEG Surreptitiously Starts Retail Energy Supplier
- New Refrigerant Rules Will Have Long Term Impact
- Building Data Platform from Leviton
- Athens, OH, Nears $4.28M Retrofit Project