GE, Shenhua set up clean energy JV in Shanghai

GE China and China Shenhua Coal to Liquid and Chemical Co., Ltd. announced the inauguration of a 50-50 hi-tech joint venture advancing technology research and development in Shanghai. The JV is known as GE Shenhua Gasification Technology Co. Jason Crew, general manager of GE’s gasification business, did not disclose how much GE invested in the venture. However, sources said the venture’s registered capital is US$6 million. The cooperation between GE and Shenhua can be traced back to November 2009, when the two sides signed an MOU to establish a gasification technology venture. (May 11, 2012)