GSR Ventures Commits $580M To Wuhan Kaidi Electric Power

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Wuhan, Hubei province-based clean energy technology provider Wuhan Kaidi Electric Power has received a total of RMB3.6 billion ($580 million) investment commitment from GSR Ventures, according to a company announcement.

The investment will support Kaidi’s new energy production project located in Beihai, Guangxi Autonomous Region in Southern China. It plans to generate 60,000 tons of biological synthetic oil to be extracted from palm trees imported from Southeast Asia.

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