Beijing, China, April 28, 2010
—IFC, a member of the World Bank Group, is helping address climate change issues in China by making a $20 million equity investment in Globalwide Assets Management Ltd, the parent company of Universtar Science and Technology (Shenzhen) Co. Ltd.
Universtar is a leading provider of digital environmental monitoring products and services in China with core products including emission and wastewater monitoring systems, air quality and water quality monitoring systems, and environmental data management systems. Universtar also provides operation and maintenance services for environment monitoring systems and pollution treatment facilities, as well as design and construct pollution treatment facilities. Automatic monitoring systems are essential for supervising the discharge of key polluting industries, facilitating compliance with governmental environmental regulations.
IFC’s investment supports the Chinese government’s priority in achieving its environment protection policy goals through the improvement of transparency and measurement quality for environmental monitoring.
“IFC’s presence as a shareholder of Universtar will not only provide a strong funding support for the company to grasp the coming immense opportunities in China’s environmental protection industry,” said Li Ye, CEO of Universtar. “It will also provide a strong signal to the market with respect to Universtar’s social and environmental practices that share the same value of IFC’s development strategy in China.”
As a result of its anticipated expansion, Universtar is expected to increase its number of employees to over 4,500 by 2014, of which 30 percent are expected to be female employees.
Dimitris Tsitsiragos, IFC Director for Global Manufacturing and Services, said, “IFC is pleased to support Universtar’s expansion, a provider of environment monitoring products that are key for addressing climate change issues. The investment is fully aligned with IFC’s strategy in China as it supports a private sector company that provides important environmental management technology that will contribute to a positive environmental impact.”
Addressing climate change and managing environmental challenges is a key strategic pillar of the World Bank Group. In China, one of IFC’s strategic priorities is to focus on climate change; using its investment and advisory services to demonstrate market-based approaches to reduce energy intensity of gross domestic product and increase efficient use of water resources, with a focus on energy efficiency, renewable energy, water management, and green finance.
About IFC
IFC, a member of the World Bank Group, creates opportunity for people to escape poverty and improve their lives. We foster sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise, and providing advisory and risk mitigation services to businesses and governments. Our new investments totaled $14.5 billion in fiscal 2009, helping channel capital into developing countries during the financial crisis. For more information, visit
www.ifc.org
.
About Universtar
Universtar’s products and services are used by municipalities, provincial governments, and industrial players to monitor environmental metrics related to air and water quality. Universtar has 610 employees in 26 offices located in 23 provinces across China including 19 provinces in the underdeveloped frontier regions of China. For more information, visit
www.szusst.cn
.
