The investment arm of computer chip giant Intel has stepped up its push into the clean tech space, yesterday unveiling its first two investments in Chinese clean tech firms.
Intel Capital announced that it is to plough $20m (£12.25m) into thin film solar cell specialist Trony Solar Holdings and has inked a deal that will see it invest an undisclosed sum in energy storage technology firm NP Holdings.
Arvind Sodhani, president of Intel Capital, said the deals, which accompany a third Chinese investment in healthcare software developer Viewhigh, underline the company's commitment to both the clean tech sector and expanding its presence in China.
Trony said it planned to use the fresh funding to expand its production capacity to 105Mw, grow its customer base and bolster its R&D capabilities. The Shenzen-based firm specialises in thin film amorphous silicon photovoltaic solar panels and develops both solar cells and lightweight solar curtains.
Meanwhile, NP Holdings is also expected to expand its R&D activities, which focus on a wide range of energy storage and grid management technologies, including peak load management systems, distributed generation technologies and batteries for electric vehicles.
Cadol Cheung, managing director of Intel Capital Asia Pacific, said the deal made strategic sense at a time when the emerging Chinese clean tech sector is enjoying burgeoning growth.
"China's renewable energy industry is experiencing rapid development," he said. "We believe these investments will be a catalyst to drive local clean tech innovation and help China toward the transition to a more sustainable energy system as well as economic growth."
The investments are the latest in a series of clean tech deals from Intel, which has identified the sector, and in particular solar power, as a major target for future expansion.
In June, the company announced it was to spin off its own solar assets into a new company called SpectraWatt, which was launched on the back of a $50m investment round led by Intel Capital.
A month later, Intel Capital again led a major solar industry funding round that saw €84m (£66.7m) pumped into Germany-based thin film solar cell outfit Sulfurcell.
The investment firm claims that its experience in nanotechnology and semiconductor manufacturing techniques mean it is well placed to support solar firms.
Whitfield Solar eyes EU and Asian markets following fresh funding round 03 Dec 2009
China-based thin film solar developer announces plans for New York flotation 02 Nov 2009
US firm ditches solar windows in favour of new manufacturing technique for building integrated solar panels 11 Aug 2009
Strengthening Italian market points to brightening outlook for solar firms 14 Jan 2010
China-based solar developer claims 15.6 per cent conversion efficiency represents a world record for multi-crystalline silicon photovoltaic modules 21 Aug 2009
Desert tortoise fears allayed? 19 Mar 2010
Cameron presents pre-election energy policy, promising greater investment certainty for low-carbon projects, green loans for households, and streamlining of planning system 19 Mar 2010
Joint statement from carbon exchange and Hungarian government aims to restore confidence in CER market 19 Mar 2010
More news
From climate change contrarians to the "KitKatastrophe" of Nestle's palm oil policy, we look at the best the green web has to offer this week 19 Mar 2010
"It needs the political enthusiasm that was behind the war on terror after 9/11" 19 Mar 2010
From the government's plans for a marine energy revolution to John Lewis' proposals for an off-grid supermarket 19 Mar 2010 More in-depth
Post your comment
Send an email to the Business Green editor at feedback@businessgreen.com
