Intel Capital, the chip giant's venture capital arm, yesterday made its first foray into the nation's clean technology sector, purchasing a $20 million stake in local solar energy firm Trony Solar Holdings Co Ltd.
"China's renewable energy industry is experiencing rapid development," said Cadol Cheung, managing director of Intel Capital Asia Pacific. "We believe these investments will be a catalyst to drive local clean tech innovation."
Trony Solar, established in 1993, is one of China's biggest manufacturers of thin-film solar energy equipment, with sales in more than 20 nations.
The Shenzhen-based company will use the investment to ramp up its production capacity as well as strengthen its R&D capabilities.
Intel Capital also signed an agreement to invest in NP Holdings Limited, a technology company focusing on massive electricity storage systems.
"These investments demonstrate Intel Capital's ongoing commitment to investing around the globe and its strategic focus on cleantech," said Arvind Sodhani, president of Intel Capital.
Over the past 10 years, Intel Capital has invested in more than 80 companies on the Chinese mainland and in Hong Kong. In this April, it established a $500 million Intel Capital China Technology Fund IIl.
Venture capital investments in China's clean technology sector soared in recent years. In 2007, venture capitalists spent $550 million to fund local clean technology startups, according to a report by researcher Cleantech China.
Questions:
1. How big a stake did Intel Capital yesterday make into the nation's clean technology sector ?
2. In which year was Trony Solar established?
3. Last year how much venture capital entered China’s clean technology sector?
Answers:
1. 20 million stake in Trony Solar Holdings Co Ltd.
2. 1993.
3. $550 million.
（英语点津 Helen 编辑）
Brendan joined The China Daily in 2007 as a language polisher in the Language Tips Department, where he writes a regular column for Chinese English Language learners, reads audio news for listeners and anchors the weekly video news in addition to assisting with on location stories. Elsewhere he writes Op’Ed pieces with a China focus that feature in the Daily’s Website opinion section.
He received his B.A. and Post Grad Dip from Curtin University in 1997 and his Masters in Community Development and Management from Charles Darwin University in 2003. He has taught in Japan, England, Australia and most recently China. His articles have featured in the Bangkok Post, The Taipei Times, The Asia News Network and in-flight magazines.
Brendan joined The China Daily in 2007 as a language polisher in the Language Tips Department, where he writes a regular column for Chinese English Language learners, reads audio news for listeners and anchors the weekly video news in addition to assisting with on location stories. Elsewhere he writes Op’Ed pieces with a China focus that feature in the Daily’s Website opinion section.
