The Cleantech Venture Network released 1st quarter 2005 investment numbers for the cleantech industry a few days ago, and things continue to look up.

Clean energy and other cleantech investments captured 7.26 per cent of the $4.61 billion (U.S.) invested in North America, up from 6 per cent in the previous quarter.

“This push towards cleantech investing from major national and global institutions, such as GE’s recently announced ‘Ecomagination’ initiative and the commitment from institutional investors in California to commit more than $1 billioin in capital to cleantech, is an affirmation that the category offers a promising future for cleantech entrepreneurs and investors,” said Cleantech Venture Network co-founder and chairman Nicolas Parker.

Carmanah Technologies (CMH-TSX-Venture) of Victoria, B.C., has for a couple of years been one of those hidden gems in Canada’s high-tech and cleantech sectors. Sure, I’ve reported on the company quite a bit — both in the Toronto Star and here on this blog — and it has also received some decent local coverage in B.C., but in the past month both of Canada’s national newspapers have written glowing profiles of the solar LED provider. The National Post’s Peter Evans had an article in late July, while the Globe and Mail’s Peter Kennedy ran a piece today (registration required).

I’ve said it before, this is a great company to watch. Mind you, its stock has gotten a bit ahead of itself, but there are some analysts out there who think there’s room to go even higher, particularly after its acquisition of solar PV maker/distributor Soltek Powersource Ltd.

Momentum is on Carmanah’s side.