The TERA-Award Smart Energy Innovation Competition, organized by The Hong Kong and China Gas Company Limited (Towngas) and State Power Investment Corporation Limited (SPIC), is still open for applications until October 31st.
The TERA-Award Competition is an annual initiative that is open to startups or research groups that can offer innovative solutions to facilitate the transition towards a green economy. The focus is to identify technologies for a smart energy future.
The second edition of the TERA-Award Smart Energy Innovation Competition was launched in August 2022. Start-up enterprises and research teams from across the world are welcome to apply online until the 31st of October at www.TERA-Award.life.
Projects will undergo technical and feasibility assessment as well as expert interviews and the results announcement and prize presentation will take place in January 2023.
Winning projects will receive three prizes – TERA-Award Gold, TERA-Award Silver and TERA-Award Bronze. According to the competition’s guidelines, the actual number of prizes will depend upon the quality of the entries. The TERA-Award Gold includes a $1 million price as well as the opportunity to be considered for investment and conduct technical trials through application scenarios.
The second TERA-Award Silver prize is $100,000 and the TERA-Award Bronze – $50,000. “Rising Star Award” and “Pioneer Award” will also be awarded to respectively top-tier projects with the highest readiness for commercialization and those that are most innovative.
One of the key target areas in the competition is called Energy Saving and Carbon Reduction and includes technologies devoted to energy efficiency that manage carbon like carbon capture, carbon utilization and carbon storage.
The initiative also aims to promote the realization of China’s “dual carbon” goals and sustainable development. The country’s so-called “dual carbon” goal is its plan to reach peak carbon use by 2030 and become carbon neutral by 2060.