Poor performance for cleantech stocks this year may continue in 2013 despite some silver linings during 2012, a leading analyst and a panel of VCs recently warned.
Kevin Genieser, Managing Director and Global Head of Clean Technology Banking at Morgan Stanley, said that cleantech equities had underperformed this year despite a bright start to 2012 with three IPOs in the sector.
This year's high-profile bankruptcies such as Energy Conversion Devices, owners of United Solar Ovonic, and battery maker A123 did not improve investor sentiment in the cleantech sector. Other cleantech IPO registrations were withdrawn this year, including BrightSource, Genomatica, Enerkem and Elevance.
But while the media were focused on high-profile failures and controversies around the Department of Energy's loan program, some individual stocks did well in the marketplace, said Genieser.