Jiangsu Chuangzhou CTC Technical Fabrics, Co., Ltd., has reported that WI Harper Group has led its first institutional round of investment, with Shenzhen Capital Group Co., Ltd., Changzhou Wujin Hongt…
Jiangsu Chuangzhou CTC Technical Fabrics, Co., Ltd., has reported that WI Harper Group has led its first institutional round of investment, with Shenzhen Capital Group Co., Ltd., Changzhou Wujin Hongtu Venture Capital Co., Ltd. and Changzhou Hongtu Venture Capital Co., Ltd. as joint investors. CTC is a leading domestic producer of glass fiber fabrics that are used primarily in the wind energy market as well as in the building of trains, ships and sporting goods. The Global Wind Energy Council has said that 30% of Asia“s wind production facilities are, at present, located in China, and that the country could replace Germany as the world leader in wind production in 2010. The president of CTC, Chen Meicheng said, The use of wind power is growing rapidly worldwide, which brings opportunities as well as challenges to CTC. This funding will enable us to expand production capacity, as well as institutionalize corporate governance and bring new leaders to our world-class management team. Additionally, WI Harper“s international resources in the clean energy power field are exactly what we need to grow the company and enter new markets. China plans to replace 40% of its traditional energy generation with clean renewable energy by 2050, and wind power plays a dominant role in this transition. WI Harper Group has a keen interest in investing in clean energy and low-carbon technologies, commented managing director of WI Harper Group in Beijing, Sean Peng. We are excited to fuel the early expansion of fast-growing companies like CTC in China. With their experienced management and innovative technology, we see opportunities for dramatic growth.