GreatPoint to build US$1.25 billion gas plant in China

David Nealis President of Blue Bridge

GreatPoint to build US$1.25 billion gas plant in China
US-based alternative energy start-up GreatPoint Energy has signed an US$ 1.25 billion deal with China Wanxiang Holdings, an industrial conglomerate, to build a plant in Western China that will convert coal into synthetic natural gas. Wanxiang will take an US$ 420 million minority stake in GreatPoint, one of the largest investments by a Chinese company in an American firm financed by venture capital, according to Ernst & Young. GreatPoint was founded in 2005 to develop a low cost way to convert coal into cleaner burning gas. Prior to the Wanxiang deal, the company raised about US$ 155 million in capital from investment firms and power companies.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

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