Meize Energy Update

RNS Number : 6475W

Jade Road Investments Limited

27 April 2021

 

RNS Reach

JADE ROAD INVESTMENTS LIMITED

("JADE" or the "Company")

Meize Energy Update

Jade Road Investments Limited, the London quoted pan-Asian diversified investment vehicle focused on providing shareholders with attractive uncorrelated, risk-adjusted long-term returns, is pleased to share that one of its portfolio companies, Meize Energy Holding Limited, was recently featured in a news story on ChannelNewsAsia ("CNA"), a leading English language news agency based in Singapore. The Managing Partner of Harmony Capital, Suresh Withana, was also interviewed during this segment.

Meize Energy designs and manufactures wind turbine blades and has three factories in China, located in Inner Mongolia, Ningxia Province, and Jiangsu Province.

The Jiangsu facility is one of the three manufacturing bases for Meize Energy. It is the newest, having manufactured blades for the first time in September 2020, and the largest in terms of production capability. It produces 24 sets of blades each month and is looking to double its production by the middle of the year.

Jade Road owns a 7.2% stake in Meize Energy.

The publication of the news story coincides with the Leaders' Summit on Climate, a conference hosted by US President Joe Biden and attended by 40 other world leaders, including the presidents of China and Russia, which aims to galvanise efforts by major economies to tackle the climate crisis.

CNA reports that China generated the largest-ever wind power capacity last year, nearly tripling 2019 levels. The country has also vowed to increase the share of energy generated by non-fossil fuels to around 20% by 2025, up from its 15% goal last year. In September 2020, President Xi Jinping announced that China aims to peak carbon emissions by 2030 and to achieve carbon neutrality by 2060.

Meize Energy is set to benefit from this continued push for renewable energy in China, as explained by the General Manager of the Company's Jiangsu facilities: "China's overall carbon emission reduction drive presents a big market. Furthermore, onshore wind energy has reached a relatively stable state, but in the long run, offshore wind has explosive potential."

John Croft, Executive Chairman of Jade Road, commented: "Jade Road is proud to support the growth of Meize Energy, as it takes part in the global effort to mobilise private and public sector finances to drive the net-zero transition and to support China's roadmap to carbon neutrality by 2060."

Click here   to watch the full video.  

FOR FURTHER INFORMATION, PLEASE CONTACT:

Jade Road Investment Limited	[phone]
John Croft
Hybridian LLP - Corporate Broker	[phone]
Claire Noyce

About Jade Road Investments Limited

Jade Road Investment Limited (JADE) is quoted on the AIM Market of the London Stock Exchange and is committed to providing shareholders with attractive uncorrelated, risk adjusted long-term returns from a combination of realising sustainable capital growth and delivering dividend income.

The Company is focused on providing growth capital and financing to emerging and established Small and Medium Enterprises (SME) sector throughout Asia, well diversified by national geographies, instruments and asset classes. This vital segment of the economy is underserved by the traditional banking industry for regulatory and structural reasons.

The Company's investment manager, Harmony Capital, seeks to capitalise on its team's established investment expertise and broad networks across Asia. Through rigorous diligence and disciplined risk management, Harmony Capital is dedicated to delivering attractive income and capital growth for shareholders with significant downside protection through selectively investing in assets and proactively managing them.

Harmony Capital is predominately sourcing private opportunities and continues to create a strong pipeline of attractive income generating assets from potential investments in growth sectors across Asia, including healthcare, fintech, hospitality, IT and property. 

For further information, please visit the Company's website at https://jaderoadinv estmen ts.com and follow the Company on Twitter (@ JadeRoadInvest ).

 

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