The Digital Source For China's Tech Innovation Since 2000

Search
Close

IBM Sets Foot In China's New Energy Industry

November 25, 2009
Business

Global IT giant IBM has turned its eyes to China's new energy industry.

IBM has signed a range of cooperation agreements with China's ENN Group. The two companies will set up a joint venture for new energy, which IBM calls one of its biggest business projects in China in the recent decade.

The cooperation consists of three parts: IBM invests in the energy saving and emission reduction energy service of ENN Group; the two companies set up an information technology company on intelligent energy; IBM becomes a strategic partner of ENN Group.

In addition, the parties will integrate resources and explore ways to develop innovative energy services, promote the start of a smart city grid program in China and build a low carbon economy among Chinese cities and enterprises. They will also shift to the American market following their development in China.

According to Wang Ying, president of ENN, IBM will invest CNY400 million in information technology infrastructure but at least CNY1 billion on energy each year. Wang said that the patents of the energy technology developed during their cooperation will belong to the Chinese company.

ENN Group is a Chinese company committed to the development and utilization of clean energy. The company says its goal is to use innovations in clean energy production to improve the quality of life and standard of living of our customers.

Tags: Business | carbon emission | carbon offset | China | Chinese | clean energy | development | Economy | energy | Giant | green | ibm | information technology | infrastructure | investment | IT | joint venture | new energy | president | production | quality | service | smart city | standard | technology | Three

Other Related News:

Short Interest in China Finance Online Co. Limited (NASDAQ:JRJC) Expands By 289.9% Stock Observer

October 30, 2021

ARM refutes charges of IP theft by ARM Chinese subsidiary

September 2, 2021

Protests erupt at Apple’s main China plant

November 24, 2022

New Guangzhou Airport IT Company Forms

September 28, 2007

GLOBAL MARKETS-Chip stocks hammered in Asia, dollar firms on Fed outlook

November 17, 2022

Chinese EV startup turns to Nvidia in competition to catch Tesla

January 23, 2022

The 2nd Village Fete With Care For Children

October 16, 2008

Sources: Cloud Village, the music streaming arm of Chinese gaming giant NetEase, raises ~$422M in a Hong Kong IPO, pricing shares at HK$205, or ~$26.30, each (Bloomberg)

November 28, 2021

Volkswagen Invests USD180 Million In Chinese Voice Search Company

April 10, 2017
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter