Intel Capital, the global investment arm of Intel Corporation (Nasdaq: INTC), on Tuesday announced its first two cleantech investments in China.
Intel Capital is investing $20 million in Trony Solar Holdings Co., Ltd., a Chinese thin-film solar energy and solution provider.
They 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 for renewable energy and energy efficiency. The amount of the investment was not disclosed.
"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 the investment to enhance its production capacity to 105 megawatts (MW), 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.
"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 the original Intel Capital 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.
About Intel Capital
Intel Capital, Intel’s global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing, and cleantech. Since 1991, Intel Capital has invested more than US$7.5 billion in approximately 1,000 companies in 45 countries. In that timeframe, 168 portfolio companies have gone public on various exchanges around the world and 212 were acquired or participated in a merger. In 2007, Intel Capital invested about US$639 million in 166 deals with approximately 37 percent of funds invested outside the United States.
About Trony
Founded in 1993, Trony is a Shenzhen (China) based leading thin-film photovoltaic (PV) product manufacturer and solar-related total solution and service provider. Trony currently has over 600 employees and has the free, exclusive and indefinite rights to use over 100 technology patents. Trony is honored to serve as Director Company of Subcommittee of Solar Photovoltaic Insulating Glass Standardization of China, and occupies 5 seats in the 22 member committee. The company has also been selected as a project launching company included in China Housing and Urban Construction 2008 Science and Technology Project, with an industrial target of achieving 1,000MW of thin-film PV production capacity and 200 million square meters of amorphous silicon (A-Si) based curtain walls. Trony’s main products include amorphous silicon (A-Si) PV power generation systems, A-Si solar curtain walls, A-Si solar cells, and other related solar products. With 40,000 square meters of manufacturing space at Shenzhen, Trony has a production capacity of 35 MW currently and is expected to expand to 105 MW in early 2009. www.trony.com
About NP Holdings Limited
NP Holdings Limited (NPH) is a technology company dedicated in research and development of massive electric energy storage equipment. Compared with the products domestic or abroad, NPH significantly reduces the cost through utilizing local supply chains and R&D resources in China. NPH owns multiple intellectual property rights. Applications developed by NPH in electric energy storage technology include: peak shaving, time shifting; load leveling, infrastructure upgrade deferral, distribution generation; back-up power; remote area power systems; energy efficiency management and electric vehicle battery. www.netpowertech.com
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