China International Marine Containers (HKG:2039, SHE:000039), through its wholly owned subsidiary, CIMC Capital, plans to invest 298.8 million yuan in a 1 billion yuan new-type energy storage fund, according to a Friday Hong Kong bourse filing.
CIMC Capital will hold a 29.88% stake in the fund, which will primarily invest in China's new-type energy storage industry, focusing on electrochemical energy storage.
The fund will have an eight-year term, including a five-year investment period and a three-year exit period.
CIMC said it will not control or have significant influence over the fund.
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