China-based energy company Shenergy Group, a Chinese state-owned company, has backed China-based solar panel company Beijing Kinglong New Energy Technology (KLNE) with 50 million Yuan ($7.9m). IDG Capital Partners, the corporate venturing unit the International Data Group, is also an investor in KLNE.
KLNE secured Shenergy’s backing in early February. Liu, of Shenergy Group, said: "As we see it, KLNE is a fine company with a great future," said Mr. "and we are proud to be associated with them."
The company was started in 2009. It is unclear when IDG invested or how much it did so.