Capstone Turbine Corporation, a clean technology manufacturer of microturbine energy systems, has announced the signing of a new distributor agreement with Shanghai Tech-Steel Petroleum & Natural Gas Technology Development Company for the oil and gas sector in China.
Founded in April, 2007, STS is a company dedicated to the oil and gas industry including coal-bed methane and coal mine methane. The predecessor of STS was Shanghai ChangQing Petrol-Chemical Material & Equipment Co., Ltd., which was part of China's Changqing Petroleum Exploration Bureau, the largest natural gas producing base in China.
The U.S. Clean-Energy Trade Mission to China and India is being attended by eighteen U.S. companies led by Assistant Secretary of Commerce David Bohigian and recently visited Beijing, Guangzhou and Hong Kong to meet with potential Chinese partners, agents, distributors, licensees, and retailers in the clean energy sectors.
According to the Export Assistance Center of West Virginia, a branch of the U.S. Department of Commerce, China aims to double the country's renewable energy supply by 2020. The Chinese government would like to increase renewable energy to 10 percent of the country's electricity consumption by 2020. In 2005 alone, China invested US$7 billion in renewable energy capacity.
