The Cleantech Group released the third quarter 2011 numbers last week. Their CEO, Sheeraz Haji, reassured the press that “Solyndra’s downfall seems to have little impact on VC’s appetite in cleantech”. More than $2.2Bn was invested across 189 deals, marking an improvement of 12% over last quarter and 23% over the same quarter last year.
The PR debacle over Solyndra is certainly intensified by the political climate ahead of the 2012 Presidential Election. Nonetheless, it raises some crucial questions on the role of the US Government. Recent reports show that a number of VCs shared concerns about the loan to Solyndra. A close adviser to President Obama, Larry Summers, shared the view that the “Government is a crappy VC” and suggested changes to the DOE loan program.