GreatPoint Energy commercializes the Bluegas catalytic hydromethanation process, which directly converts coal into pipeline-quality natural gas. The company is planning and building large-scale coal-to-natural-gas production facilities, including a first-phase plant targeted at one trillion cubic feet per year capacity in China. To finance and construct that facility GreatPoint entered a joint venture with China-based Wanxiang Holdings. Wanxiang is providing corporate equity investment and project funding totaling $1.25 billion and will take a large minority stake in GreatPoint. Ernst & Young described the investment as one of the largest by a Chinese company in an American firm financed by venture capital. Company leadership said the transaction launches the growth stage of the business.

Total raised

$1.3B

Funding rounds

1

Latest round

Equity

Latest activity

Jun 2012