#Innovation #Hong Kong #TERA Award #Smart Energy

The 4th TERA-Award: Your Chance to Innovate in Smart Energy

The 4th TERA-Award Smart Energy Innovation Competition has opened its doors for applications, inviting groundbreaking projects worldwide to innovate in smart energy solutions. Organized by The Hong Kong and China Gas Company Limited (Towngas), with support from Full Vision Capital, this prestigious competition represents the pinnacle of recognition for creativity in sustainable energy technologies.

Funding and Opportunities

Participants in the competition will vie for a remarkable grand prize of up to USD 1 million to help turn their innovative concepts into real-world applications. Beyond the monetary reward, participating teams have the opportunity to connect with investors who are looking to back the most promising ideas in the energy sector.

Categories for Entry

The 4th TERA-Award introduces an expansive range of categories for projects focusing on:

• - Renewable Energy: Exploring solar, wind, geothermal, and biomass energy.
• - Energy Storage and Conversion: Innovations in electrochemical and physical energy storage.
• - CCUS Technologies: Carbon capture, utilization, and storage initiatives.
• - Green Fuels and Hydrogen Energy: Sustainable biomass and hydrogen production technologies.
• - Intelligent Energy Systems: Integration of innovative energy management systems.
• - Smart City Initiatives: Projects aimed at advancing green infrastructures and urban management.

This year marks the inclusion of a new category focused on Green Fuels, offering ideas like Sustainable Aviation Fuel (SAF) and green methanol as fresh avenues for fostering eco-friendly solutions.

Vision for Empowering Green Change

With the theme of “Empowering Green Economic Development,” the TERA-Award serves as a global platform uniting entrepreneurs with the resources necessary to bring their ideas to fruition. It not only rewards innovation but also fosters a creative environment where technology meets market viability.

Dr. Peter Lee Ka-kit, the founder of the TERA-Award, highlights its role as more than just a competition. He calls it an incubator for fostering green energy startups, creating pathways to the market for innovative solutions and products.

Past Success Stories

Looking back at previous editions, the TERA-Award has successfully attracted over 900 startup projects from more than 59 countries, showcasing the worldwide interest in the green energy sector. In line with this growth, notable past winners have achieved substantial milestones. For instance, i2Cool Limited, a Gold Award recipient in 2022, completed its Series A funding and its products are being utilized globally. Another success story is Luquos Energy, which launched a significant energy storage project as a direct result of their participation.

Why Participate in 2024?

Participation in the TERA-Award connects innovators with invaluable resources, including mentorship from seasoned industry experts with extensive networks in the energy field. As Mr. Alan Chan Ying-lung, Executive Chairman of the Organizing Committee stated, the ideas fostered through this competition could potentially give rise to the next EcoCeres or EnerVenue—a testament to the award’s mission of shaping the future of sustainable energy.

This year’s competition runs until April 9, 2025, encouraging teams worldwide to submit applications and embark on their journey of creating impactful changes in the smart energy domain.

For detailed information regarding the application process, guidelines, and more about the TERA-Award, visit the official TERA-Award website. Don’t miss the opportunity to be part of this esteemed competition that serves as a beacon for innovations in sustainable energy.

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