Advanced Hydrogen Producing Equipment Wins Top Prize and $1 Million in TERA-Award Competition
HONG KONG, April 22, 2024 /PRNewswire/ -- The results of the third TERA-Award Smart Energy Innovation Competition, hosted by Towngas, have been announced in Hong Kong. The Gold Award and a prize of US$1 million were won by a project of advanced alkaline hydrogen-producing equipment from a Chinese research team, significantly reducing the cost of hydrogen production. An Israeli team won the Silver Award for hydrogen storage at near-ambient conditions; another Chinese team received Bronze for versatile heat/cold energy storage material.
The Gold Award winner, which received a US$1 million prize, is Hua Xia Hydrogen Technology from China. The company has developed a high-efficiency design for hydrogen production through water electrolysis, requiring less than 4.3 kWh of DC power per cubic metre of hydrogen. This technology enables direct hydrogen production from renewable energy, reducing equipment costs and improving long-term operational stability. It has applications in various sectors, such as industry, transportation, power, and construction, providing low-cost solutions for hydrogen production.
The Silver Award project, "Reshaping H2 Storage and Transportation", comes from an Israeli research team. The team uses water and bicarbonate to store hydrogen, offering advantages such as being non-toxic, non-flammable and non-explosive. It can also be transported at close-to-ambient temperature and pressure, reducing the cost of hydrogen storage and transportation to below US$1 per kilogram.
The Bronze Award recognised a project that utilises high-efficiency phase change material (PCM) technology to replace traditional refrigeration or heating solutions. PCM can absorb and store thermal energy or cold energy at temperatures ranging from -150°C to 1,000°C, making it suitable for applications such as air conditioning, cold storage, and data centres. This technology provides safer and more stable temperature control while achieving zero-carbon peak shifting and energy savings of up to 20%.
The third TERA-Award received 450 zero-carbon projects from 59 countries and regions worldwide, reflecting a 60% increase compared to the previous year. Dr Lee Ka-kit, Founder of the TERA-Award, remarked, "The TERA-Award has become a gathering platform for global energy technology innovation entrepreneurs, providing comprehensive services for scientists to bring their research results to the market. I am also pleased to announce that the TERA-Award brand will be elevated from a competition to an accelerator platform for zero-carbon technologies." Dr Lee encouraged more global zero-carbon technology entrepreneurs to join the TERA-Award and collaborate in creating a sustainable future through technological innovation.
SOURCE Towngas
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