Open Call for the 4th TERA-Award: A Chance to Innovate
The 4th TERA-Award Smart Energy Innovation Competition is now open for applications. Organised by The Hong Kong and China Gas Company Limited (Towngas) and supported by Full Vision Capital, this competition is a beacon for innovative technology teams from around the world. It offers an incredible opportunity to showcase ground-breaking projects that advance this field, with a grand prize of up to USD 1 million awaiting the winning project.
Innovative Categories Encouraged
From now until a future application deadline, teams are encouraged to submit technologies and solutions that contribute to the advancement of smart energy. The competition's aim is to foster zero-carbon technologies by introducing a variety of categories. This year, six main tracks have been established: Renewable Energy, Energy Storage and Conversion, CCUS (Carbon Capture, Utilisation, and Storage) Technologies, Green Fuels and Hydrogen Energy, Intelligent Energy Systems, and Smart City initiatives. Notably, the Green Fuels track has been added to encourage further innovative energy solutions. This will include sustainable biomass processing technologies, Sustainable Aviation Fuel (SAF), and green methanol, thereby enhancing the competition's commitment to supporting a global green transition.
Empowering Green Economic Development
The vision behind the TERA-Award, which can be likened to the Oscars of Smart Energy Innovation, is to empower green economic development. It provides a global platform that combines application scenarios, significant cash prizes, and investment opportunities for participants. The overarching goal is to celebrate and nurture the most innovative ideas that will shape the sustainable energy landscape. Award-winning teams will have the chance to connect with investors and corporations to bring their concepts to fruition.
Success Stories from Previous Editions
Throughout the past competitions, the TERA-Award has attracted over 900 startup projects from more than 59 countries, which highlights its growing recognition in the international arena. The competition is not merely about awards but also functions as an incubator and accelerator for green energy startups. Dr. Peter Lee Ka-kit, founder of the TERA-Award, emphasized the importance of establishing connections between startups and investors, allowing emerging technologies to secure funding and practical application opportunities. This aims to facilitate a smoother transition from lab concepts to market realities, enhancing the pace of commercialization.
Insights From Organisers
Mr. Alan Chan Ying-lung, the Executive Chairman of the TERA-Award Organising Committee, called for innovation teams globally to participate, highlighting that Towngas' extensive experience provides a supportive environment with diverse resources for startups. This year, the competition seeks to expand its reach into the global market further. The prior editions have already incubated numerous startups, showcasing their journey from concept to commercial application.
Notable Previous Winners
For instance, i2Cool Limited, the Gold Award winner from the second TERA-Award, has successfully completed its Series A funding. It specializes in electricity-free cooling technology and has been applied in over 100 projects worldwide. Additionally, Luquos Energy, recognized with a Bronze Award in the first edition, received strategic investments that helped them fast-track their sulfur-based flow battery project, marking a significant step towards large-scale production.
The Experience Behind TERA-Award
Before the TERA-Award was launched, both Towngas and Full Vision Capital had paved the way in startup incubation efforts. Their track record includes the success stories of companies like EcoCeres and EnerVenue, which emerged as unicorns by innovating in the industry. EcoCeres has gained recognition for converting waste oils into Sustainable Aviation Fuel (SAF), while EnerVenue focuses on developing commercial metal-hydrogen battery energy storage technologies.
Get Involved
For those intrigued by this opportunity, further details regarding the 4th TERA-Award, including application procedures and guidelines, can be found on the official competition website. Interested participants are encouraged to act swiftly and seize this chance to make a difference in the energy sector.
Frequently Asked Questions
What is the TERA-Award?
The TERA-Award is a smart energy innovation competition that encourages teams to develop technologies focused on sustainability and renewable energy.
Who can apply for the TERA-Award?
The competition is open to technology teams worldwide that are working on innovative energy solutions.
What are the main categories in the competition?
This year, the major categories are Renewable Energy, Energy Storage, CCUS Technologies, Green Fuels, Intelligent Energy Systems, and Smart City initiatives.
What can participants win?
Participants have the chance to win a grand prize of up to USD 1 million along with opportunities to connect with investors.
How can I learn more or apply?
More information, including application guidelines, can be found on the official TERA-Award website.
