On Wednesday, the Cleantech Group and Deloitte said that global investment in clean technology jumped back in the first quarter, and many companies in the sector are likely to start initial public offerings later this year.

Venture capital investment in clean technology companies reached $1.9 billion in the first three months of 2010, signifying a 29% swell from the last quarter of 2009 and an 83% increase from the same period a year back.

A record of 180 deals was fastened in the quarter.

Sheeraz Haji, President of Cleantech Group, said, "The bounce back in venture investment from lows in early 2009 has continued, with the first three months of 2010 representing the strongest start to a year we have ever recorded".

Solar, the top green technology sector for venture investment last year, reported $322 million in 27 deals in the first quarter.

If market conditions do not get worse, the Cleantech Group and Deloitte said that they hope to see many cleantech IPOs in the second and third quarters.

In the first quarter, 81% of the clean tech venture investment was in North America, trailed by Europe and Israel with 14%, China with 4% and India with 1%.

The value of cleantech deals, though rising, is still off 2008's record highs, when the third quarter saw some $2.9 billion in green venture investment.