A new Cleantech report has just been released predicting that spending on the development of new energy and environmental technologies - Cleantech - is projected to grow by 14% in 2007 to exceed $55 billion worldwide. With corporate and government spending up 10% and venture capital on track to double.

The Cleantech Report, a component of Lux Research’s energy and environment service identifies that:

“Government funding for clean technologies has barely grown faster than inflation for the past two years, but initiatives announced in 2006 indicate a 10% increase for 2007. And corporations like General Electric, BASF, and Toshiba are making R&D investments to maintain rapid revenue growth in sustainable products and services,” said Lux Research President Matthew M. Nordan.

“Unlike previous technology waves in information technology and biotech, however, the U.S. is not leading the world. The Asia/Pacific region takes first place in government funding, corporate R&D spending, and scientific publications while the U.S. only leads in deployment of venture capital and in patents issued.”

You can find more about the report and its contents here

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