It looks like China will get its first “CleanTech Park” thanks to a partnership between investors and government.
The Xuzhou Cleantech Park will serve as a center for businesses focusing on the development and deployment of technology across the spectrum of cleantech segments including renewable energy, energy efficiency, water & wastewater purification, resource recycling, clean production, manufacturing, and advanced materials.
The Park is being developed as a joint venture between The Cleantech Group, Tsing Capital, Tsinghua Holdings and the municipality of Xuzhou.
“We welcome the Cleantech Group’s support and view the development of Xuzhou Cleantech Park as a major step forward in accelerating the commercialization of clean technologies and in keeping with the substantial increase in venture capital investment in China,” said Don Ye, President and CEO of Tsing Capital. “The enforcement of China’s Renewable Energy Law solicited a significant increase in venture capital investment into the energy category in 2006. Coupled with the 11th 5 Year Plan and China’s strong interest in cleantech as a means to resolve major environmental issues, we see China becoming a major cleantech powerhouse – both as a customer and an innovator – in the coming years.”
According to the Cleantech Group research, investors placed US$420 million into 26 cleantech deals in China in 2006, a 147% increase over 2005.
“Investments in the cleantech category in 2007 have already outpaced 2006, with US$154 million invested in the first quarter of 2007- an investment level four times that of the first quarter 2006,” said Jerry Li, China Country Director, Cleantech Group.
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