Duke Energy, China’s ENN Join to Develop ‘Green’ Technologies
Duke Energy Corp., the owner of electric utilities in the U.S. Southeast and Midwest, and China’s ENN Group agreed to develop technologies that will support clean energy for U.S. and Chinese cities.
The agreement between Charlotte, North Carolina-based Duke and closely held ENN, a company providing clean-burning fuels in more than 100 cities, was signed today at a conference in Washington, according to a statement from the companies.
Chinese President Hu Jintao is scheduled to visit the U.S. this week to meet President Barack Obama, lawmakers and business leaders in a bid to strengthen diplomatic and commercial ties. ENN and Duke said their agreement is an example of the partnership between the two nations.
“This represents not only a collaboration between two companies, but also two countries,” ENN Chairman Wang Yusuo said in the statement. “ENN and Duke Energy will complement one another’s strengths as we seek to accelerate the commercialization of low-carbon technologies.”
Duke rose 14 cents to $18.06 at 2:28 p.m. in New York Stock Exchange composite trading. They have climbed 6.8 percent in the past year.
To contact the reporter on this story: Kim Chipman in Washington at kchipman@bloomberg.net
To contact the editor responsible for this story: Larry Liebert at lliebert@bloomberg.net
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