With $19 million in fresh funding, Netherlands-based GreenPeak Technologies is ready to go. The company completed its Series B venture capital financing round, which was led by European investor Gimv and Robert Bosch Venture Capital. DFJ Esprit, Motorola Ventures and Allegro Investment Fund also participated.
Clearly, the Chinese venture capital market is hot right now. In addition to sinking some hefty scratch into local ventures — along with the Chinese and provincial governments — the VC community is on the prowl for more. When U.S. renewable energy producer GreenHunter Energy was ready to sell off its minority stake in Guangdong MingYang Wind Power Technology, it found a buyer in Chinese growth venture firm DT Capital Partners, which agreed to play for $9.1 million.
GreenHunter Energy picked up its stake in the Chinese manufacturer of industrial-scale wind turbines back in late 2007. It seems pretty safe to infer that the company made the move back then because the U.S. equivalent wasn’t far enough along. Now, says CEO Gary Evans, the U.S. wind turbine biz is far enough along, making it preferable to owning a piece of a Chinese company.
Well, I have less than an hour until the wheels go up. Six hours to Reykjavik, then another three to Stockholm. I’m dreading the flight but excited about the trip. I’ll be covering an event dealing with clean technologies. Before you dismiss this as some tree-hugger shit, keep in mind that we live in a country beholden to oil, and some alternative will be needed soon. Think about it from a perspective of diversification. With all our eggs in one basket, we’re taking on a hell of a lot of risk. I think I know the angles I want to cover, so I’ll be able to hit the ground running.