Intel Capital Invests In “Clean-Tech” Firms
Posted on: Tuesday, 28 October 2008, 13:25 CDT
Intel Capital on Tuesday announced plans to launch its “clean tech” initiative in China, investing $20 million in once of China’s leading developers of equipment for renewable energy.
"The world economy is in a very difficult position, but innovation is the way to help the companies out of financial crisis. Intel Capital is still committed to investing in innovative companies," said Cadol Cheung, managing director of Intel Capital for the Asia Pacific.
"We have no plans to slow down our investment pace," Cheung said.
Intel Capital's parent is computer chip maker Intel Corp.
Intel plans to invest in Shenzhen-based Trony Solar Holdings Co. to improve its production and research and development.
The two companies did not provide details on the size of Intel Capital's equity stake or other terms of the investment.
"Investing in 'clean-tech' is relatively new for Intel Capital," said Stephen Eichenlaub, Intel Capital's managing director. "Clean technology area will take on a large strategic significance for Intel's future."
Intel Capital also acknowledged plans to invest in NPH Holdings Ltd., a Chinese company specializing in electricity storage systems for renewable energy.
"Our challenge as investors is to find technologies where we should be supporting innovation where the price of oil doesn't matter, because we can't control it," Eichenlaub said.
Intel Capital established a $500 million Intel Capital China Technology Fund II in April. That followed its first fund of $200 million.
Cheung refused to disclose the returns Intel earned on the first fund, but said its performance provides a benchmark for the larger second fund.
So far, Intel Corp. has managed to achieve higher than expected third-quarter earnings, but analysts have warned the company could face margin pressures in coming months.
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Source: redOrbit Staff & Wire Reports
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