Tuesday, October 28, 2008

Intel Capital to invest 20 mln usd in Trony Solar Holdings - UPDATE

BEIJING (XFN-ASIA) - Intel Capital, the global investment arm of US chip maker Intel Corp, said it will invest 20 mln usd in Trony Solar Holdings, a leading Chinese thin-film solar cell company.

Intel Capital said it will also invest in two other Chinese firms - NP Holdings Ltd, which is involved in massive electricity storage systems, and View High, a software provider for the healthcare industry.

It revealed no financial details about these two investments.

Stephen Eichenlaub, an Intel Capital managing director for emerging platform technologies and the clean technology sector said Trony Solar Holdings and NP Holdings are Intel's first Chinese cleantech investments.

Eichenlaub said that China's cleantech industry is experiencing rapid development and Intel Capital expects to focus more on the sector in future.

Cadol Cheung, Intel Capital managing director for the Asia and Pacific Region, said despite the global financial turmoil, Intel Capital remains committed to the China market and has no plans to slow down investment in the mainland.

Cheung said the 500 mln usd Intel Technology Fund II, which was launched in April, has invested in six projects so far, mostly as a strategic investor. The companies it invests in are seen as potential acquisition targets or listing candidates.

susan.wang@xfn.com - xfnzw/xfjamesa/xfaws/xfntm

28 October 2008

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