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Silver Lake Investment Invested Clean Energy Technology Company -Nobao Renewable Energy Holdings Limited
Silver Lake Investment Group (hereinafter referred to as Silver Lake) announced they had invested in Nobao Renewable Energy Group (hereinafter referred to as Nobao) on Oct.22, this was the first investment on clean technology field in China for Silver Lake.
 According to sources close to the deal, the amount of investment and the transactions involved with Nobao maximum up to 100 million USD.
Sun Guoping, board Chairman and CEO released to the journalist of Finance Magazine ” that the funds are mainly used to increase capital investment in R&D team and future projects which are under construction as well as to update manufacturing equipment of the factory”.
As an energy saving management solution providing enterprise, Nobao adopts ground source heat pump technology to commercial and residential buildings in order to make heating, cooling and hot water supply more energy efficient and environmentally friendly. Nobao introduces energy management contract operating model to achieve energy saving for customers under the premise of “Zero Upfront Costs”.
Board member and General Manager of Silver Lake Mr. Chen Xun indicated during his interview with Finance Magazine journalist that “Clean technology is the industry which Silver Lake focuses on, Nobao Group involves in clean technology segment market- GSHP technology. The desire for Clean Technology in China has created a very dynamic market. GSHP has been a very mature technology in Western countries; Nobao developed China featured demand technology innovation on the premise of Western mature technology”.
Nobao raised 30 million USD fund from Qing Yun Venture Capital in 2009. Nobao scheduled to be listed in U.S.A on June.3, before it gets the venture capital from Silver Lake.
Sun Guoping indicated the reason for not being listed in the States was due to the turbulence of capital market , “We chose the most inappropriate timing ”.
Sun Guoping released that Nobao has no plan of being listed again currently “we will rapidly expand our business in different cities in the incoming half year to one year after the completion of transactions with Silver Lake”.
Sun Guoping disclosed “Silver Lake will bring our company some technical support on advanced management and overseas business development. In the return of capital market, Silver Lake may play a role of guidance and promotion regarding finance and policy for us.
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