The $641 million invested in clean technology ventures during the first two quarters of 2003 is 22% higher than the $524 million invested over the same period last year, according to the most recent issue of the Cleantech Venture Monitor.

Ann Arbor, MI - October 8, 2003 - The $641 million invested in clean technology ventures during the first two quarters of 2003 is 22% higher than the $524 million invested over the same period last year, according to the most recent issue of the Cleantech Venture Monitor released today. Given the overall decline in venture financings, cleantech doubled its venture capital market share to 8% during Q1-Q2 2003 from 4% in the same period last year. Nearly 100 cleantech companies were funded in the first half of the year.

For energytech-focused investors the news is not so good. The first six months of 2002 saw energytech taking over 60% of all cleantech venture dollars. Over the comparative period for 2003, energytech has dropped to 34%, declining to 29% this past quarter. According to Nicholas Parker, Chairman of the Cleantech Venture Network: "Investors in this segment are cautious given the lack of positive market dynamics in the distributed generation area and the weak performance of publicly traded energytech stocks". Investors are diversifying into other cleantech segments such as more efficient materials, air quality and water purification.

"What's common to all investors", says Parker, "is they increasingly want to see revenue and evidence of near-term profitability from prospective investees". Accordingly, the 21 companies selected so far to present at Cleantech's forthcoming venture forum (New York, October 21-23) have collectively generated revenue approaching $100 million. With evidence of market traction for cleantech products, rising capital commitments and new investors, the opportunity to build a cleantech venture community is greater than ever before.

Publicly launched in July 2002, the Cleantech Venture Network is a market
facilitation service providing venture forums, investment reports, and online
services to investors and companies.

For additional information, please go to www.cleantechventure.com or contact:

Keith Raab, CEO, keith@cleantechventure.com, 517-223-9607 or

Nicholas Parker, Chairman, nicholas@cleantechventure.com, 416-456-9314