Lee Ka-kit, the chairman of Towngas, says that the competition serves to accelerate the application of smart energy and innovative technology to support the country’s dual carbon goals. (PHOTO PROVIDED TO CHINA DAILY)

The inaugural TERA-Award, themed “Exploring zero-carbon innovations for the future”, is accepting applications on its website until Aug 31. Co-organized by The Hong Kong and China Gas Co Ltd and the State Power Investment Corp Ltd, the competition aims to recruit projects from energy startups around the world to support the dual carbon goals set by China.

Since it was announced in June, the smart energy innovation competition has received applications from technological research teams in the United States, France, Hong Kong, Taiwan, as well as the Chinese mainland. The proposed energy innovation projects span multiple fields, with apparent interest in energy supply and demand, as evident from the higher proportion of proposals in these areas. The organizers are hoping to see more smart energy innovation proposals from groups around the world in a joint effort to create a zero-carbon era.

The proposals focus on the recycling of depleted batteries, new solid waste treatment technology for integrated landfill management, organic waste solutions, distributed power generation from waste, realization of zero emission and low energy consumption solutions for winter heating, summer cooling and year-round hot water supply, new-generation internet of things control system, and more.

The projects not only demonstrate creativity, but also target low-carbon and sustainable development. Their successful application will provide support for the country’s attainment of the dual carbon goals of carbon peaking by 2030 and carbon neutrality by 2060.

Lee Ka-kit, the chairman of Towngas, said, “The dual carbon goals of carbon peaking and carbon neutrality are among the country’s key strategies. The advancement and innovation of energy technology are the fundamental driving forces behind the energy revolution and transformation, as well as vital motivators powering the attainment of the dual carbon goals. This competition offers winners not only a significant monetary prize, but more importantly, an open platform for startups to connect supply with demand by providing application scenarios that power the rapid realisation of smart energy and innovative technology.”

Towngas Energy Investment Ltd has dedicated great efforts to driving the utilization of and breaking new ground in distributed energy, investing in the construction of the first photovoltaic power generation project in Foshan in a landmark entry into a new arena for the business. (PHOTO PROVIDED TO CHINA DAILY)

Qian Zhimin, the chairman of SPIC, said, “Currently, China’s fossil energy makes up about 84 percent of the country’s overall energy consumption. Attaining the goal of carbon neutrality poses a great challenge to the industry; it is a visionary cause that requires the synergy of technology, the system, and the institution. To this end, SPIC and Towngas have joined hands to share our strengths in terms of platforms, application scenarios, resources and funding with the winning projects and teams to contribute toward the attainment of the dual carbon goals. We hope to promote the ethos of innovative growth and drive the research and development of innovative new technology through this competition in order to propel the development and application of advanced smart energy technology.”

With Towngas as the organizer and SPIC as the co-organizer, the competition has invited multiple partners from among the industry, academia, research and investment stakeholders, including Greater Bay Area Homeland Investments Ltd, Tsinghua University, the University of Hong Kong, the China Energy Internet Alliance, the China Gas Association Distributed Energy Committee, and the Hong Kong Institution of Engineers and Hong Kong Science and Technology Parks Corp, in a bid to join hands in driving the development of zero-carbon technology.

The TERA-Award calls for technology in four areas, namely energy supply, energy demand, green transportation, and energy internet, to support the fight against climate change. All participating smart energy innovation projects and solutions must possess original technology and patents as well as the conditions for real-life applications to be judged by the competition’s panel. Judging criteria include innovation, implementation, talent capability and commercialisation. These ensure that in addition to applying state-of-the-art innovative technology, the project has a reasonable chance for realization and practical implementation.

In terms of awards, the competition is offering up to $1 million for the top prize. Towngas and SPIC will also provide support in the form of technological application scenarios for the winning projects.

Applications are open to scientific research and startup companies from around the world until Aug 31 on the event site (www.tera-award.life).