IBM Signs Clean Energy Agreement With China's ENN Group
November 27 2009 - 4:17AM
Dow Jones News
International Business Machines Corp. (IBM) said Friday it has
signed an agreement with Chinese gas-distribution and energy
company ENN Group to help Chinese companies and cities become more
energy efficient.
IBM will provide consulting and information technology services
to ENN Group to help it become "a total clean energy solution and
services provider," the two companies said in a statement.
"The two companies will explore innovative business models for
energy services and help Chinese companies and cities develop a
low-carbon economy," the statement said.
ENN, based in the northern Chinese province of Hebei, operates
natural gas, biofuels and thin-film solar panel manufacturing
businesses. It is the parent company of Hong Kong-listed XinAo Gas
Holdings Ltd. (2688.HK), a piped-gas distributor.
The statement didn't include any financial information on the
agreement, but D.C. Chien, chairman and CEO of IBM's Greater China
Group, said in the statement the deal with ENN is "IBM's biggest
and most influential strategic collaboration in China over the past
decade."
-By Aaron Back, Dow Jones Newswires; (8610) 6588-5848;
aaron.back@dowjones.com
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