Clean tech has passed biotech and IT as the top venture capital (VC) investment category in the world. This is after investments in leading clean tech markets increased by 10% in the third quarter of this year.

Cleantech Group released findings on Wednesday showing that the cleantech sector “accumulated $1.59 billion across 134 companies” and this was 10% more than the $1.2 billion it had accumulated in the second quarter.

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While cleantech investment appears to be on the rebound, it’s clear the recession isn’t over yet. Mark Jensen, managing partner for the venture capital services group at Deloitte & Touche, said Wednesday that about half of the largest venture-capital firms expect to reduce their overall investments in the next few years in response to the recession.

But venture-capital firms expect cleantech to fare better than most other categories. According to the Deloitte survey, a whopping 95 percent said they plan to either increase or maintain their level of cleantech investment, with 63 percent anticipating more investment and 32 percent expecting to invest the same amount as they do now.

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Solar venture investments hit a three-year low in the second quarter, the Cleantech Group said Wednesday. According to Brian Fan, senior director of research for the group, solar startups in North America, Europe, China and India raised a total of only $113.8 million for the quarter, which is down 7 percent from $365.7 million in the first quarter and down 86 percent from $834.7 million in the year-ago quarter.

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In other words, it’s still down from last year, but deals are still happening and money is still available, he said. “The amount of investment is not continuing to plummet; it’s stable,” Kachan said. “Some might say we’ve reached bottom.”

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These forums are created to bring together “clean technology entrepreneurs and investors, as well as corporate executives, professional advisors, and senior policymakers in an exchange of information about cleantech business and investment opportunities.” In addition to highlighting trends within the industry, they serve as a “matchmaker” between investors and entrepreneurs.

The San Francisco Chronicle reports the Cleantech industry is alive and well in California with companies winning $1.79 billion last year (45% of the nationwide total of $3.95 billion).

Outcomes from this week’s forum demonstrate there’s a nationwide and worldwide interest in Cleantech as well.

• Wal-Mart and the Cleantech Group have partnered to create an online system for green businesses to sell their products and services to Wal-Mart. After companies submit their proposal online, the Cleantech Group will review the submissions and make a recommendation to Wal-Mart about which proposals look most promising. The hope is that other companies will sign on to use this Cleantech Accelerator.
• The Cleantech Group is launching an operation in India to connect entrepreneurs and investors in India. The hope is that with less expensive, renewable fuel options, entrepreneurs in India will be in a better position to succeed.
• Representatives of Singapore and Abu Dhabi touted their regions as promising locations to do business as a cleantech company. Abu Dhabi has already created a venture capital fund of $250 million and is planning a city called Masdar Initiative that is powered by electricity from solar power.

As venture capital creates full functioning businesses, green jobs will follow. You can track the developments in the clean tech world by following what the Cleantech Group writes about in their newsletter.

Where will green careers develop? Clean tech (or green tech) includes creating alternative energy sources, finding more efficient ways to use energy, and designing and manufacturing products that are earth friendly.

If you are up for an adventure, check out the career opportunities with the Masdar Initiative in Abu Dhabi.