CQM and Zhongzi Enterprise Group (ZEG) announce a joint venture with a total investment $10,000,000
FOR IMMEDIATE RELEASE
Givat Hashlosha, Israel November 5, 2018 – CQM Ltd., a leading company in the field of non-chemical water treatment for cooling systems and drinking water, announces a the formation of a joint venture company with Zhongzi Enterprise Group (ZEG) of China, to manufacture sell and service products based on CQM’s technology in China. Total investment to the joint venture by both companies is $10,000,000.
The newly formed company will be based at a new 2,000 sq meter facility being built at Hangzhou and will serve the Chinese energy sector, where CQM already has several successful installations.
CQM will provide its technology and know-how in increased efficiency and water savings at power plants, while ZEG will address the day to day operations to serve the energy and governmental segments in China.
Ziki Livni, CQM’s founder and CEO said “I am very excited about the opportunities that this joint venture presents. China is an important market for CQM. We can now expand our reach and provide a better service to our customers.”
CQM (Cooling Quality Management) is a world leader in the field of water disinfection and water conditioning using electrolysis technology, and also of automated condenser tube cleaning systems (ATCS). Both product lines eliminate the need to use chemicals for water disinfection and scale formation. Founded in 1996, the company has over 4,000 customers worldwide.
Founded in 1995 ZEG (Zhejiang Energy Group )is headquartered in Hangzhou and currently has more than 23,000 employees, with assets under management (AUM) surpassing 193,2 Billion. As China’s leading asset management group ZEG adheres to the philosophy of “Growing with Excellent Companies” and gradually develops into a diversified services group specialized in investing, financing, industrial funds and so on.