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Next Grid closes strategic investment from leading Chinese industrial and manufacturing company New United Group

Transaction Details

Fort Capital Partners is pleased to announce the closing of a strategic investment by New United Group Co. Ltd. (“NUG“) in Next Grid Inc.

The investment will allow Next Grid to fund its business plan for markets in North America and China.

Next Grid’s Combined Heat and Power (CHP) system provides hot water and electricity at ultra-high efficiency levels, with direct application for the markets of hotels, multi-unit residential buildings, commercial operations and utilities worldwide.

NUG and Next Grid recognize that China is entering into an era of rapid development of its new energy industry, where many provinces and cities are implementing new district heating networks tied to public transportation infrastructure that will allow adjacent buildings to offload excess heat. Next Grid has identified an immediate business opportunity in North American and China, and will seek collaborative development and manufacturing efforts with NUG to provide a winning solution in this application.

Fort Capital provided Next Grid advice with respect to sourcing a strategic investment and in the placement of the common shares with NUG. The placement is designed to fund in two stages; upon completion of the second stage, NUG will own a majority interest in Next Grid.