Intel Capital announces $20 million investment in Chinese solar firm.
The AP (10/28) reported, "Shrugging off gloom over the economic outlook, Intel Capital on Tuesday announced its first 'clean-tech' initiative in China, a $20 million equity investment in Trony Solar Holdings Co.," which is "one of China's biggest makers of solar energy and wind power equipment." Cadol Cheung, managing director of Intel Capital for the Asia Pacific, said, "The world economy is in a very difficult position, but innovation is the way to help the companies out of financial crisis. Intel Capital is still committed to investing in innovative companies." The AP notes, "Intel Capital's parent is computer chip maker Intel Corp." The Chinese company said that "Intel's investment...will be used by Trony to enhance its production and research and development." Additionally, "Intel Capital also announced plans to invest in NPH Holdings Ltd., a Chinese company specializing in electricity storage systems for renewable energy. ... China's renewable energy industry is growing quickly, as the country attempts to shift away from heavily polluting coal and oil-fired power generation to cleaner, more efficient energy sources." The San Francisco Business Times (10/29) also covers the story.
Posts
