Intel Makes Three New Investments in China

Intel Makes Three New Investments in China

Intel Capital Announces Three New Investments in China Including its First Chinese Cleantech Investments

US$20 Million Investment in Trony Aims to Accelerate Renewable Energy Generation and Drive China's Sustainable Development

BEIJING, Oct. 28, 2008 -- Intel Capital, Intel's global investment organization, announced today three new investments in China. This includes a new US$20 million investment in Trony Solar Holdings Co., Ltd., a leading Chinese thin-film solar energy and solution provider. Intel Capital also signed an agreement, subject to various closing conditions, to invest in NP Holdings Limited (NPH), a technology company focused on massive electricity storage systems. These are Intel Capital's first two cleantech investments in China and are intended to accelerate local green innovation and new ways to reduce dependency on carbon-based energy generation.

Intel Capital also signed an agreement to invest in Viewhigh, a leading software product and service provider for China's healthcare industry. Viewhigh focuses on healthcare business management, ranging from hospital operation and management to government supervision and financial management of healthcare institutions.

NPH is a cleantech company focused on electricity storage systems for renewable energy and energy efficiency. NPH strives to take the lead in the energy and environmental protection movement in China.

"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 and executive vice president of Intel. "Clean technologies are transforming our world and the landscape of entrepreneurship."

Trony plans to use its funding, including the $20 million from Intel Capital, to enhance its production capacity to 105 megawatts,, to serve a broad base of customers, and strengthen its research and development capabilities. With growing R&D capacities, advanced application of innovative technologies, and low-cost volume manufacturing in Shenzhen, Trony now offers a diverse range of competitive products and solutions for various energy-related applications, such as solar farms in the utility industry and building materials for the construction industry.

"Intel Capital's investment will enable us to expand our leading position in the thin-film solar industry," said Li Yi, Chairman and CEO, Trony Solar Holdings Co., Ltd. "The expertise and network resources of Intel Capital consolidate our confidence to further advance in the energy sector."

"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 cleantech innovation and help China toward the transition to a more sustainable energy system as well as economic growth."

Intel Capital is continuously looking for local start-ups and companies with strong potential for future growth. Over the past 10 years, Intel Capital has invested in more than 80 companies across mainland China and Hong Kong. Nearly 30 Chinese companies have received investments from Intel Capital's first US$200 million Intel Capital China Technology Fund. Intel established a US$500 million Intel Capital China Technology Fund II in April 2008. This fund aims to foster innovation and entrepreneurship while elevating the technology capabilities and global competitiveness of Chinese companies.

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As many American companies struggle to survive, others are going into bankruptcy. Even behemoth General Motors is losing a phenomenal amount of money and may be flirting with bankruptcy as early as next year. My co-worker has a buddy that is a parts-man at a local GM dealership in Temecula. That parts-man said his dealership had only sold 3 vehicles this entire month. So I must admit I am very sad to see these investments being made in China (which isn't even a free economy). This news article provides a cold reminder that American consumers continue to improve the living-standard of third-world and communist counties at a terrible price.

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Well said. I thought I heard GM was in talks to sell out completely to Chrysler/Mercedes?

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rapid1:
Well said. I thought I heard GM was in talks to sell out completely to Chrysler/Mercedes?

 

That scares me...diamond chrysler is the definition of paying a premium for a mediocre product. I thoroughly respect most GM products (exceptions here being low-end chick cars like sunfires and cavaliers)

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My mom worked at GM for 20 yrs. and at Delco electronics(subsidiary of GM)before that.

She probably wouldn't be thrilled about me mentioning it though because it really dates her. lol

I'm just proud of her staying power... she's been with KMC(Kawasaki Motors Corp.)now for over... well let's just say: a long time.

BTW: No... I don't ride, but motos are way cool though! Yes

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GM and Chrysler might merge. Daimler (Mercedes) has nothing to do with Chrysler anymore; they dump them pretty fast sealing Chrysler's fate. GM wants to merge with them so they would be such a big entity the government won't let them fail and they'd get bailed out.
Also, they don't make sunfires/cavaliers anymore. The replacements are g5's/cobalts and they're quite a bit better than the previous generation.

These investments in China are good. As China's economy grows they reinvest in American companies also. Some Chinese firms are finding that with tax breaks from the government they can actually run certain factories cheaper/more stable in the USA and are doing so. In regards to China not being a free economy.. the government is pretty much laissez faire on foreign investment. Foreign investments are actually protected more from the Chinese government than local companies’.

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Grahf:

GM wants to merge with them so they would be such a big entity the government won't let them fail and they'd get bailed out.

Thats so sad. Bail out AIG, but delay my stimulus check into the next decade.

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bob_on_the_cob:

Grahf:

GM wants to merge with them so they would be such a big entity the government won't let them fail and they'd get bailed out.

Thats so sad. Bail out AIG, but delay my stimulus check into the next decade.

Don't worry. I'm sure they'll spread someone's wealth around to you soon! In the meantime... Beer

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Grahf:

Don't worry. I'm sure they'll spread someone's wealth around to you soon! In the meantime... Beer

lol My girlfriends dad is quite wealthy. The other day he was complaining about Obama. He said "Screw Obama! He wants to take all me money and give it to Bob." I didn't really know what to say so I laughed said "Then He's got my vote" and ran off.

 

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bob_on_the_cob:

Grahf:

Don't worry. I'm sure they'll spread someone's wealth around to you soon! In the meantime... Beer

lol My girlfriends dad is quite wealthy. The other day he was complaining about Obama. He said "Screw Obama! He wants to take all me money and give it to Bob." I didn't really know what to say so I laughed said "Then He's got my vote" and ran off.

 

 

If your g/f's dad won't take care of you, Bob, HotHardware will!Stick out tongue

 

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Super Dave:

If your g/f's dad won't take care of you, Bob, HotHardware will!Stick out tongue

LOL no. I will never see any of him money. He keeps a spreadsheet of all the money Jen owes him. Which includes things like her sweet 16 car.

 

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I gotta agree with SuperDave.

Some would argue that once the standard of living in the third world countries improves, we'll actually be able to compete with them for labor. To which I say: Do you know how many people are in China? We'll be a third world country long before their standards improve.

CEOs seem to think that improving the stock price is their God (maybe because they receive stock as bonuses?). I really don't care for moves that make me $30000 on the stock I own in my company if it also means my job is outsourced to India. This is why there's no such thing as company loyalty anymore.

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