Intel Makes Three New Investments in China
Intel Capital Announces Three New Investments in China Including its First Chinese Cleantech Investments
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.
US$20 Million Investment in Trony Aims to Accelerate Renewable Energy Generation and Drive China's Sustainable Development
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.
