China pollution control business gets $20m Series C round

The fresh capital will be used to expand the company's engineering and field service teams to keep up with rising customer demand for its core emission reduction business in China. It will also support the development of several clean energy technologies, such as proprietary efficiency improvement solutions and coal-to-chemicals technology.

The Chinese government is committed to pollution control, announcing regulations on nitrogen oxide emissions standards in 2012. As a provider of nitrogen oxide removal (De-NOx) solutions to power plants, LP Amina is well placed to capitalize on this and other pollution reduction policies. 

"Since the introduction of NOx emissions standards, we have seen the market take off. Prior to 2012, utilities were holding off their purchases until the emissions standards were set," said Elaine Wong, partner and co-founder of Hao Capital.

The private equity firm led a Series B round for LP Amina in 2010 after Qiming committed $5 million in first round financing two years earlier.

"We have introduced a major North American customer to the company, led negotiations with new investors, and helped the company upgrade its sales management systems," Wong added.

Invesco WLR Private Equity is a joint venture between Huaneng Capital, an investment arm of China Huaneng Group, Invesco and Invesco affiliate W.L. Ross & Co. Operating the WLR China Energy Infrastructure Fund, it  aims to provide capital and support to companies engaged in cleaner traditional energy, new energy, and energy conservation in China.

Keytone Ventures currently oversees $420 million assets across two funds, focusing on early and growth-stage companies in areas of technology, clean-tech, consumer services, and media.

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• Topics
• Greater China
• Expansion
• Cleantech
• China
• Hao Capital
• Qiming Venture Partners
• Growth capital
• Cleantech
• Consumer