The signing ceremony of a memorandum of understanding of partnership agreement on the Sino-European Clean-Tech Fund is held in Xishan district on Sept 27. [Photo/WeChat account: xishanfabu2013]
The Sino-European Clean-Tech Fund, or Sino-European Fund, is set to be established in Xishan district, Wuxi, East China's Jiangsu province, according to authorities at the online signing ceremony of the related memorandum of understanding held in the district on Sept 27.
Established by Belgium-based Federal Holding and Investment Company (SFPI-FPIM), Capricorn Partners, Xidong New City, and the State Power Investment Corp Ltd, the fund is worth 300 million yuan ($41.53 million) and will be used to invest in overseas high-tech enterprises and introduce new technologies.
Jos B. Peeters, founder of Capricorn Partners, said at the signing ceremony that carbon asset management and the carbon trading market are the common concerns of enterprises from Belgium and China and the company will root for clean energy innovation in Xishan.
Participants from Capricorn Partners at the online signing ceremony. [Photo/WeChat account: xishanfabu2013]
State Power Investment Corp Ltd is the largest clean energy power generation enterprise in the world with a total installed generation capacity of 120 million kilowatts.
SFPI-FPIM has been maintaining friendly cooperation with China while Capricorn Partners is an experienced venture capital firm with a focus on innovative companies that use technology as a competitive advantage.
As the bridgehead of Wuxi's integration into the Yangtze River Delta, Xidong New City is one of the most vigorous regions in Wuxi with huge development potential.
Capricorn Partners will cooperate with Xidong New City to establish Wuxi's first overseas offshore incubator in Belgium so as to assist more high-tech enterprises engaged in clean technologies to develop in Xidong New City.
