TERA-Award offers US$1 million prize, applications to close 31 August

HONG KONG, Aug. 20, 2021 /PRNewswire/ -- The inaugural TERA-Award smart energy innovation competition co-organised by The Hong Kong and China Gas Company Limited (Towngas) and State Power Investment Company Limited (SPIC) under the theme of "exploring zero-carbon innovations for the future" is accepting applications through the event website at www.tera-award.life until 31 August. The first global innovation competition to focus on the realm of zero-carbon technology was launched in mid-June, with a view to calling for smart energy innovative products, technology and solutions from relevant startup teams around the world to contribute towards the country's dual carbon goals.

With the application deadline drawing closer, the competition has received an increasing number of applications from various countries/regions. In addition to the United States, France as well as Hong Kong, Taiwan and Mainland China, project proposals have recently been received from numerous research teams from Germany, Switzerland, Canada, Norway and Finland. The energy innovation projects proposed by the teams span multiple areas, with greater apparent interest in the fields of energy supply and demand judging from the applications received. The organisers are hoping to see more smart energy innovation proposals from groups around the world in a joint effort to create a zero-carbon era.

Daniel Fung Man-kit, Towngas Head of Strategy & Innovation, expressed delight at the large number of applications received since the competition was announced. "Applications have been received from Hong Kong, Taiwan and Mainland China, as well as advanced new technology organisations from European countries. The submitted proposals are high in quality and include the exploration of advanced new energy technology, energy efficiency enhancement, optimisation of effective natural energy transformation, and more. From our preliminary observations, we are confident that with adequate support, it is highly possible that some projects can be realised and transformed into new energy options with practical application efficiency."

Participating smart energy innovation projects and solutions are required to possess original technology and patents as well as the conditions for real-life applications.

Applications are open to startup teams from around the world until August 31 through the event site (www.tera-award.life) for a chance to explore the boundless possibilities in smart energy innovation and strive for the country's dual carbon goals and the construction of a green world.

SOURCE The Hong Kong and China Gas Company Limited