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Mass. firm in $1.25b deal in China

Start-up to build alternative energy project for partner

By Erin Ailworth
Globe Staff / May 21, 2012
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A Massachusetts alternative energy start-up finalized a $1.25 billion deal Monday to build a plant in western China to convert coal into synthetic natural gas, an agreement that underscores China’s growing hunger for power and the state’s position as a global center for energy technology. The deal, one of the biggest yet for the state’s alternative energy industry, creates a partnership between GreatPoint Energy, a seven-year-old Cambridge firm with just 30 employees, and China Wanxiang Holdings, an industrial conglomerate

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