HONG KONG, Dec. 16, 2024 /PRNewswire/ -- The 4th TERA-Award Smart Energy Innovation Competition, organised by The Hong Kong and China Gas Company Limited (Towngas) and empowered by Full Vision Capital, is now officially open for applications. The winning project will receive a grand prize of up to USD 1 million

From now until April 9, 2025, technology teams from around the world are invited to submit innovative technologies and solutions in the field of smart energy. The competition aims to advance zero-carbon technologies. This year's competition features six main tracks: Renewable Energy, Energy Storage and Conversion, CCUS (Carbon Capture, Utilisation, and Storage) Technologies, Green Fuels and Hydrogen Energy, Intelligent Energy Systems,, and Smart City. Expanding its scope, the competition has introduced the Green Fuels category, covering areas such as sustainable biomass processing technologies, Sustainable Aviation Fuel (SAF), and green methanol. This addition offers more innovative energy solutions to support the global green transition. 

With the vision of "Empowering Green Economic Development," the TERA-Award provides a global entrepreneurial platform that combines application scenarios, cash prizes, and investment opportunities for participating teams. The winning project will receive a grand prize of up to USD 1 million, and award-winning teams will have the chance to gain support from investors and corporations to realise their projects. As the 'Oscars of Smart Energy Innovation,' the TERA-Award celebrates and nurtures the most groundbreaking ideas that will shape the future of sustainable energy by nuturing more green unicorn.

Over the past three competitions, the TERA-Award has attracted more than 900 startup projects from over 59 countries and regions.

Dr. Peter Lee Ka-kit, Founder of the TERA-Award , emphasised that the TERA-Award is more than just a competition—it is an incubator and accelerator for green energy startups. He stated: "We aim to establish a platform that connects startups with investors, allowing investors to identify promising green ventures while technology teams gain funding and application opportunities. This accelerates the entrepreneurial journey from '0 to 1' and '1 to 10,' enabling projects to move from the lab to market applications, expediting commercialisation and scaling."

Mr Alan Chan Ying-lung, Executive Chairman of the TERA-Award Organising Committee, called on global innovation teams to participate: "With Towngas' 162 years of experience, our green sandbox provides startups with the tools, resources, and opportunities to turn bold ideas into impactful solutions. Together, we can build the next EcoCeres or EnerVenue, helping shape the future of green energy and creating a cleaner, more sustainable world." Mr Heron Ho, Chief Organiser of the TERA-Award, emphasised that the competition becomes all-rounded this year and it's edging out to global market.

The competition has successfully incubated multiple startups over the past three editions. For instance, i2Cool Limited, the Gold Award winner of the second TERA-Award, has completed its Series A funding. Its core products, such as electricity-free cooling coatings and membranes, have been applied in over 100 projects globally. Luquos Energy, the Bronze Award winner of the first TERA-Award, not only received strategic investment from Towngas but also launched its first sulfur-based flow battery energy storage demonstration project in Shenzhen this year. This marks a significant acceleration in its industrialisation phase, with plans to commence large-scale production by 2027.

Prior to establishing the TERA-Award, Towngas and Full Vision Capital had already accumulated extensive experience in startup incubation. Notable examples include EcoCeres and EnerVenue, which have grown into unicorn companies. EcoCeres converts waste plant oils and animal fats into SAFand is now a leading global SAF supplier. EnerVenue, founded by Cui Yi, Professor of Material Science and Engineering at Stanford University, specialises in the development and production of commercial metal-hydrogen battery energy storage technologies.

For more details about the 4th TERA-Award, including application procedures and competition guidelines, please visit the official competition website at https://tera-award.life/. The latest promotional video is also available for viewing here.

Scope of the 4th TERA-Award Smart Energy Innovation Competition

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