Australia:

Wasabi Completes Purchase of Chinese Affiliate (newenergyworldnetwork.com)

Australia’s Wasabi New Energy has paid $5.6m for a 50.5 per cent stake of Shanghai Shenghe New Energy Resources Science and Technology (SSNE).

The Chinese company is the licensee of Wasabi’s kalina cycle technology, which generates power from geothermal or waste heat.

Wasabi commenced the acquisition process last November with the establishment of Wasabi New Energy Asia (WNEA). The subsidiary was created to promote the company’s technology throughout Asia, especially China.

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