GreenStream established a subsidiary in Shanghai Free Trade Zone

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As part of its recently announced agreement with Finnfund for the expansion of its EMC business in China, GreenStream has finalized the formation and registration of a new Shanghai-based WFOE, wholly foreign owned enterprise, under name of European Energy Savings Technologies (Shanghai) Ltd. This company is the first cleantech focused company to be established by Finnish shareholders in the new Shanghai Free Trade Zone.  This zone, launched on September 29, 2013, is intended to make foreign investment in key sectors such as cleantech and financial services more attractive for investors from Europe and the USA.

The establishment of European Energy Savings Technologies (Shanghai) Ltd maintains GreenStream’s leadership role in the provision of energy efficiency services in China and is key to the further expansion of its Energy Management Contracting (EMC, known as “ESCO business” in the Western countries) business model. GreenStream has recently commissioned its first EMC project in Shandong province and was the first Finnish company to make an EMC agreement in China utilizing Finnish technology.

“The establishment of a Shanghai presence, and the advantages of the free trade zone, strenghtens our position in Chinese energy efficiency markets and allows us, and our technology partners, a wider access to the world’s largest economy and in particular enhances our ability to offer solutions to the pressing environmenal problems encountered by Chinese industry”, says GreenStream’s CEO Jussi Nykänen.

GreenStream’s activities in China are coordinated through a joint venture with the Juno Capital Group. This partnership combines Juno’s local experience and relationships with GreenStream’s world-leading expertise, and leverages a strong network of key industrial, financial, and regulatory stakeholders in China.

Further information:
Jussi Nykänen, CEO

Latest references

Opening China markets for Sarlin

GreenStream has opened China markets to many Finnish small and medium sized companies. One of the main technology partners at the moment is Sarlin.

Shangdong Guangjun Paper – annual energy savings up to 32 %

Annual savings:

Electricity saving: 1926.6 MWh
Water saving: 18495 m3
Steam saving: 2652 t
Standard coal: 1068 TCE
Emission reduction: 2766t CO2e

Energy Efficiency for Delong Steel

GreenStream’s project saved 15 % of the compressed air related electricity costs annually for Delong Steel’s Xingtai steel mill. The technology provider was Sarlin.