So far I've been pretty unimpressed by the "bubble" in GreenTech. It's been the bubble that popped before it even expanded. You would think that will all of the hype, slathering media coverage, and government subsidies, we'd have a roaring party going on in greentech markets. Or maybe even a roaring IPO market? Instead all we have are some pretty feeble success stories and at most, a couple of modest IPOs in 2010.
There have been a handful of "greentech" companies slated for IPO in 2010, the most commonly discussed are Solyndra and Silver Spring Networks. I have no idea how they will do, nor I have I (yet) investigated these particularly companies thoroughly, but my initial feedback from reliable sources is an indifferent shrug. A Google-like outcome is not likely. More concerning is some feedback I have been getting from the sources in the venture-backed greentech market, where valuations are under pressure, it's extremely difficult to raise funding, and the general feeling is that of disappointment.
Greentech Media, a fine place to go for everything green and techy, says that 2010 promises to be a big year in the green technology IPO market, with potential IPO candidates stacking up like cars on the 405 in L.A.
Companies making a bid for public market debuts include thin-film solar play Solyndra, Chinese solar firm JinkoSolar, and yet another Chinese solar polysilicon maker Daqo Energy. Those companies filed for IPOs seeking to raise $300 million, $100 million, and $100 million, respectively. That's $500 million in capital among four companies, for those of you who can't bother with the math.
Greentech says that other companies that might seek IPOs include Nanosolar once it gets to $50 million in revenue. SunRun and SolarCity are other potential IPOs. Greentech says other potential companies include:
- Tesla Motors : electric cars for rich people.
- Bridgelux, an LED company
- Brightsource
- Silver Spring Networks, a smart grid company
- Trilliant, another grid-maker
- Enphase, which makes solar inverters.
