JINAN, China, Oct. 28, 2014 /CNW Telbec/ - Participating in Quebec Premier Philippe Couillard's 2014 Québec-China Mission, Cycle Capital Management (CCM) announced today the signing of an agreement with Qingdao City Construction Investment Group (Chengtou). In collaboration with Cycle Capital Fund III, this Chinese partner will invest in companies in cleantech sector. In counterpart, Cycle Capital will support its Chinese partner in setting up a venture capital fund in Qingdao.
Through its partnership with Qingdao City Construction Investment Group, Cycle Capital has promoted the establishment of a collaborative agreement for two companies of its portfolio, Enerkem and Eocycle in Qingdao.
"Building this type of partnership is one of the key elements to enable North American businesses in clean technology to access Asian markets with a greater probability of success," said Andrée-Lise Méthot. She further noted that this partnership between Chengtou and Cycle Capital will provide an interesting opportunity for the portfolio companies wishing to expand and invest the Chinese market, she said.
About Cycle Capital Management
A pioneer among Canadian venture capital funds focused on the clean-tech sector, Cycle Capital invests in companies developing and commercializing clean technologies and striving to reduce greenhouse gas emissions, optimizing resource use, and improving process efficiency throughout a product's life cycle.
With $230 million in assets under management, Cycle Capital invests in Quebec and northeastern North America. Cycle Capital's team is composed of experienced investment professionals, strategic advisors, and industrial partners with in-depth knowledge of the sector. Cycle Capital has a special relationship with its strategic partners, notably Brookfield Renewable Energy, Rio Tinto Alcan, Cascades, Master Group, Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and Hydro-Québec.
About Qingdao City Construction Investment Group
Founded in 2008, Qingdao City Construction Investment Group is directly owned by Qingdao municipal government. It is a China's 3A enterprise, which is the highest level. With total assets of nearly 100 billion yuan, it has 15 core subsidiaries, covering land development, construction of the new Hongdao District, urban and rural development, tourism investment operation, municipal resource development, urban and rural financial services and other areas. Centered on the two major themes of "urban and rural infrastructure construction, and Qingdao's tourism", the Group plays a significant role to dedicate to the economic development of Qingdao in financing, control and integration of high-quality resources.
As a land development investment platform designated by the municipal government, Qingdao City Construction Investment Group has been innovative to improve market-oriented modes of operation in order to turn government resources into enterprises assets, enterprises assets into social capital, and social capital into enterprises capital. It has introduced a number of well-known state-owned key enterprises and municipal supporting units to accelerate the integration and development of land resources enhance land value and achieve win-win development.
The Group dedicates to promote the development of Hongdao as an important urban strategic reserve so as to construct a new northern urban district in respect of technology, culture, and ecology, including core area of 28.7 sq kilometers and oasis wetland of 22 sq. kilometers.
SOURCE: Cycle Capital Management
Guillaume Bérubé, 514-282-4719
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