Intel Capital invests $20m in Trony Solar Holdings

7 November 2008

Intel Capital, the global investment arm of Intel Corporation, is investing $20m in Trony Solar Holdings, a Chinese thin-film solar energy and solution producer.

Trony will use the financing to boost its production capacity to 105MW and strengthen its research and development capabilities.

In addition, Intel Capital also agreed to invest in NP Holdings. Financial terms were 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.’

Intel previously established a $500m Intel Capital China Technology Fund II in April 2008 to drive growth among Chinese companies.

‘China’s renewable energy industry is experiencing rapid development,’ commented 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.’

Copyright © 2008 newnet

Tags: solar, venture capital

This story was published on Friday, November 7th, 2008 at 6:36 pm and is filed under Asia, deals, solar. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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