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
“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.
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.
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.