Wanxiang has taken a majority stake in its clean-tech portfolio company, GreatPoint Energy, as part of a $1.25bn investment to finance and construct the first phase of a one trillion cubic feet per year coal to natural gas production facility in China.
Wanxiang will join the board of directors of GreatPoint, which won the Global Corporate Venturing award for investment of the year when Wanxiang made its original investment at the start of the year.