Wanxiang in $1.25bn GreatPoint Energy tie-up

Feb 21, 2012 • Toby Lewis

The coal conversion company backed by Dow Chemical, AES Corporation and Suncor Energy reportedly lands a $420m fourth round of funding in the largest Chinese US VC deal.

China Wanxiang Holdings, an industrial conglomerate, has reportedly entered into a $1.25bn partnership with coal conversion company GreatPoint Energy.

Part of the tie-up involves a $420m series D round, according to news provider VentureWire, which it said on Friday was the largest investment by a Chinese corporation into a US company quoting affiliated data provider VentureSource.

The company raised $100m in series C financing in 2007 which was co-led by Sustainable Development Investments (SDI), a unit of Citi Alternative Investments,…

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