Chinese Investors Meet with PortTechLA Companies
On July 30, 2012, the City of Los Angeles Mayor's Office welcomed a delegation representing the China Investment Promotion Agency to City Hall. The event was organized by Stephen Cheung, Managing Director of the Mayor's Office of Business and Economic Policy in conjunction with PortTech Los Angeles to give Chinese investors the chance to learn more about potential business partnerships for Chinese firms in Los Angeles.
During a seminar hosted at City Hall, Chinese investors listened to presentations that provided an overview of Los Angeles business opportunities and the benefits of investing in a region supported by excellent infrastructure that is well-suited for continuing growth in a global economy. After the seminar, the delegation of about 40 Chinese investors received a boat tour of the Port of Los Angeles followed by a reception and briefing with PortTechLA companies.
"This meeting with the China Investment Promotion Agency delegation is a perfect example of PortTechLA's efforts to facilitate business opportunities for foreign companies looking to invest in the U.S and vice versa," said Jeff Milanette, Executive Director of PortTechLA. "The knowledge exchanged was useful to all parties and showcased the benefits of international collaboration for businesses and investors alike.
Several PortTechLA client companies made presentations on their products and services, highlighting new and emerging technologies. Hi-Z Technology, Inc. presented information about the company's thermoelectric materials, devices and systems in Mandarin. The presentation by TransPower about their electric vehicles resulted in an invitation to China to discuss potential business prospects. And IMET's (International Metals and Energy Technology, Ltd.) presentation on catalytic converters for diesel engines led to a conversation about business opportunities for their technology in Mongolia.
"Coal producers in our region move over 400 million tons of coal per year by truck, and we have a significant pollution problem," said Guo Gang, Deputy Director-General of the Department of Commerce of China's Inner Mongolia Autonomous Region. "Dr. Rim's technology may be a solution for reducing the level of pollutants emitted by so many diesel trucks operating in the region."
About PortTechLA: PortTech Los Angeles, a commercialization center and incubation program, promotes and develops companies with technologies that enable enterprises and consumers to meet their immediate and future environmental, energy, security and logistics goals. PortTechLA is an integral component in the Clean Tech Los Angeles Initiative, a founding member of the Business Incubation Network of Southern California and is a member of the National Business Incubation Association. The incubator is located adjacent to the Port of Los Angeles in the heart of the San Pedro Business Improvement and Arts, Culture and Entertainment Districts.