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.
Next Grid Inc. designs, manufactures and distributes a low-cost micro-steam turbine combined heat and power (CHP) system, providing 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. It is based in Mississauga, ON.
New United Group Co. Ltd. is a leading diversified industrial and manufacturing corporation, with six core divisions: railway transportation, aviation, new energy, CNC equipment, logistics and office equipment. Based in Jiangsu Province, China, NUG has international joint-venture partnerships with MerakSpain, Bombardier Canada and SMA Germany, and is also a technology leader with extensive R&D capabilities in the area of wind power and railcar propulsion engineering, and gas turbine.
Fort Capital Inc. is an investment bank that works with public and private companies in Canada. The firm draws from collective capital markets experience to provide its clients with proven, accessible and independent investment banking advice and transaction execution. For more information, visit fortcapital.ca.