CHINA - Institutional investors have committed US$382m into a fund to invest in technology that extracts methane gas from coal mines in China and uses it to generate electricity.
The money was subscribed in the second stage of asset-raising from the China Methane Recovery Fund (CMRF), according to the fund’s sponsor, Man Investments.
Man Investments said the fund could benefit the environment while earning returns for investors from sales of electricity and carbon credits.
MTM Capital Partners, an asset management business specialising in environmental projects, will manage the fund. Man Investments has a majority stake in MTM.
Nick Wood, a spokesman for Man Investments, said the portfolio had the capacity to benefit the environment by reducing harmful greenhouse gas emissions and contributing to China’s economic growth through installing much-needed additional electricity generating capacity.”
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