Hong Kong-based utility Towngas launches second TERA Award in partnership with New Energy Nexus

September 22, 2022

22 September 2022, Shanghai – Hong Kong and China Gas Company Limited (Towngas) launched its second TERA Award Smart Energy Innovation Competition, a global startup program aiming to help selected clean energy startups achieve commercial success.

vista del puerto de victoria desde sky100, hong kong, 2013 08 09, dd 10

View of the Victoria Harbour from the International Commerce Centre skyscraper in Kowloon, Hong Kong, China. (image source

This year, the prize of the award has increased to US$1 million for the first -place winner, while runner up and third prize will receive US$100,000 and US$50,000. Up to 26 startups will also be selected to pitch for the opportunity to collaborate with Towngas on a proof-of-concept (POC) project.

Five new categories have been added to this year’s award:

  • Renewable Energy: solar, wind, geothermal, biomass
  • Hydrogen: production, transmission and storage, fuel cell
  • Energy Storage and Conversion: electrochemical, energy conversion of mechanical energy and thermal energy
  • Energy Digitisation: energy internet, virtual power plant
  • Energy Saving and Carbon Reduction: energy efficiency, carbon capture, carbon utilization and carbon storage


It is New Energy Nexus’ second year partnering on the TERA Award. As global solicitation partner, New Energy Nexus is inviting startups and research groups from across the world to develop pioneering technologies and patents to support the clean energy transition.

China’s “3060” decarbonisation target inspired Towngas to establish the TERA-Award, with the aim to increase clean energy adoption and help solve sustainable development challenges.

The TERA Award application window is from September 22 to October 31, 2022. More information: www.tera-award.life

About New Energy Nexus

New Energy Nexus (NEX) is the world’s leading ecosystem of funds and accelerators supporting diverse clean energy entrepreneurs to thrive. NEX started in Silicon Valley and now runs programs in Australia, China, India, Indonesia, Nigeria, the Philippines, Singapore, Thailand, Vietnam, Uganda, and the USA. Since 2004, NEX has accelerated over 600 clean energy startups, supported over 3000 entrepreneurs, and mobilized over US$1.5 billion in investment. www.newenergynexus.com

About Hong Kong and China Gas Company Limited (Towngas)

Founded in 1862, The Hong Kong and China Gas Company Limited (Towngas) is Hong Kong’s first public utility and one of the largest energy suppliers in Hong Kong, operating with world-class corporate management and leading-edge business practices nowadays.

Expanding business horizons in recent years, Towngas have diversified the business into telecommunications, building services, engineering and new eco-energies, among many others.

Towngas made its foray into the Chinese mainland in 1994. Currently, it has more than 550 projects, including smart energy and piped city-gas projects, upstream and midstream developments, water supply and urban waste utilization projects, natural gas filling stations, as well as new energy exploration and utilization ventures, across 28 provincial regions.

For more information, please visit https://www.towngas.com/en/Home.

Media contacts:

Lily Lu, Program Manager, New Energy Nexus China, lily.lu@newenergynexus.com

Jasper Shen, Marketing Manager, New Energy Nexus China, jasper.shen@newenergynexus.com

Tristan Tremschnig, Communications Director, New Energy Nexus, tristan.tremschnig@newenergynexus.com (based in USA)