US$1 Million Prize by Towngas for Smart Energy Technology Proposals

Rhea-AI Summary

The Hong Kong and China Gas Company Limited (Towngas) and State Power Investment Corporation Limited (SPIC) are launching the TERA-Award, a global innovation competition aiming to address environmental challenges. With a total prize pool of US$1 million, the initiative seeks projects that contribute to China's dual carbon goals of carbon peaking and neutrality by 2060. Applications are open until August 31, 2021, with a briefing session scheduled for June 29, 2021. Experts from various institutions will judge submissions, focusing on advancements in energy supply and innovative technology.

Positive

• Total prize of US$1 million encourages global participation.
• Focus on achieving China's dual carbon goals aligns with national environmental strategies.
• Collaboration with notable institutions enhances credibility of the competition.

Negative

• None.

HONG KONG, June 22, 2021 /PRNewswire/ -- The Hong Kong and China Gas Company Limited (Towngas) (0003.HK) and State Power Investment Corporation Limited (SPIC) are co-hosting the first global innovation competition, TERA-Award, with US$1 million as top prize and potential application scenarios for winning projects. The two parties held a cloud launch ceremony in Beijing and Hong Kong under the theme of "Exploring zero-carbon innovations for the future".

 

 

TERA-Award aims to recruit projects from start-ups around the world to help address global environmental issues, and attain China's dual carbon goals to achieve carbon neutrality by 2060.

Dr Lee Ka-kit, Member of the Standing Committee of the 13^th National Committee of the Chinese People's Political Consultative Conference, Vice Chairman of the All-China Federation of Industry and Commerce, and Chairman of Henderson Land Group and Towngas remarked, "The dual carbon goals of carbon peaking and carbon neutrality are among the country's key strategies. The advancement and innovation of energy technology drive the energy revolution and transformation and advance the dual carbon goals. It is the duty of energy corporations to aid in the complex, enormous systematic work behind carbon peaking and carbon neutrality. This competition offers a significant monetary prize and, more importantly, an open platform for start-ups to connect supply with demand by providing application scenarios that power the rapid realisation of smart energy and innovative technology."

Focused on energy supply, energy demand, green transportation and the energy internet, TERA-Award encourages global start-ups and project teams to submit original technology and patents for judging by a panel comprising experts from Towngas, SPIC Central Research Institute, Greater Bay Area Homeland Investments Limited, Chinese Academy of Sciences, Tsinghua University and The University of Hong Kong.

Mr Qian Zhimin, Chairman of SPIC, stated, "China's fossil energy makes up about 84% of its energy consumption. The challenging goal of carbon neutrality is a visionary cause that requires the synergy of technology, the system and the institution. SPIC and Towngas are sharing platforms, application scenarios, resources and funding with winning teams to advance the dual carbon goals, promote innovative growth and drive the R&D of new technology to propel the development and application of advanced smart energy technology."

Applications are accepted until 31 August 2021 at www.tera-award.life, with an online briefing session on 29 June 2021.

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SOURCE The Hong Kong and China Gas Company Limited

FAQ

What is the TERA-Award competition by Towngas and SPIC?

The TERA-Award is a global innovation competition launched by Towngas and SPIC that invites projects addressing environmental challenges, with a prize pool of US$1 million.

How much is the prize for the TERA-Award competition?

The total prize for the TERA-Award competition is US$1 million.

What are the goals of the TERA-Award competition?

The TERA-Award aims to support projects that help achieve China's dual carbon goals of carbon peaking and neutrality by 2060.

When is the deadline for TERA-Award applications?

Applications for the TERA-Award are accepted until August 31, 2021.

When will the online briefing session for TERA-Award take place?

The online briefing session for the TERA-Award will occur on June 29, 2021.

Who will judge the submissions for the TERA-Award?

Submissions for the TERA-Award will be judged by a panel of experts from Towngas, SPIC, and various academic institutions.