FAQ

TERA-Award

TERA-Award

At the Climate Ambition Summit, President Xi Jinping stated that China’s carbon dioxide emission per unit of GDP is set to drop to 65 per cent below 2005 levels by 2030, while non-fossil energy resources will make up about 25 per cent of the country’s primary energy consumption. China will strive to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060. In order to reach these emission reduction goals, the energy industry’s participation is indispensable.

As a leading energy enterprise, Towngas strives to reduce its carbon emissions in its operations. In addition, the company hopes to encourage global elites in the field of scientific research to devise smart energy breakthroughs with a view to discovering visionary technology and solutions to drive the development of the energy industry worldwide and the construction of smart cities.

The name of the event stems from the power unit “terawatt” (TW), equivalent to 1012 or 1 trillion watts.

According to the National Energy Administration, China’s total power consumption for 2020 was 7,511 gigawatts, or 7.5 terawatts.

Host: The Hong Kong and China Gas Company Limited (Towngas)

Co-host: State Power Investment Corporation Limited (SPIC)

Strategic partner: IDG Capital, Affinity Equity, Greater Bay Area Homeland Investments Limited

Academic partners: Tsinghua University, The University of Hong Kong, City University of Hong Kong, The Hong Kong University of Science and Technology

Supporting organisations: China Gas Association Distributed Energy Committee, China Energy Internet Alliance, The Hong Kong Institution of Engineers Gas & Energy Division, Hong Kong Science and Technology Parks Corporation, and more.
The five key areas targeted are renewable energy, energy storage, carbon neutrality, hydrogen and fuel cell production & energy digitalization. The broad scope of application encompassed by these four fields contributes towards meeting the global demand for low-carbon and renewable energy, thereby presenting significant potential.

Renewable Energy
  • Solar Energy
  • Wind Energy
  • Geothermal
  • Biomass Energy

Hydrogen and Fuel Cell Production
  • Production
  • Transmission and Storage
  • Fuel Cell

Energy Storage & Conversion
  • Electrochemical
  • Mechanical (Flywheel, Pump-storage Hydroelectricity, solid mass gravitational)
  • Thermal
  • Energy Conversion

Energy Digitalization
  • Energy Internet
  • Virtual Power Plant

Energy Saving And Carbon Reduction
  • Energy Efficiency
  • Carbon Capture
  • Carbon Utilisation
  • Carbon Storage
The judging panel comprises renowned scholars and industry experts from various fields.

Industry representatives:
Towngas
SPIC
Greater Bay Area Homeland Investments Limited
Quanta Research Institute
Towngas Energy Investment Limited

Academic representatives:
Energy expert
Fellow
Tsinghua University
The University of Hong Kong

The award takes into account four areas: innovation, implementation and talent capability and commercialization.

Three prizes are available, including TERA-Award Gold, TERA-Award Silver and TERA-Award Bronze. The actual number of prizes will depend upon the quality of the entries. The winner of TERA-Award Gold will be presented with over US$1 million as well as the opportunity to be considered for investment and to conduct technical trials through application scenarios.

TERA-Award Gold: US$1 million TERA-Award Silver: US$100,000 TERA-Award Bronze: US$50,000

“Rising Star Award” and “Pioneer Award” will be awarded to respectively top-tier projects with highest readiness of commercialization and top-tier projects which are most innovative.

Note: The host, co-host and strategic partners of TERA-Award collectively or individually possess the right to priority purchase or priority quotation for obtaining, purchasing, funding or investment of the entries submitted by participants in part or in their entirety.
  • Start-up enterprises or research teams
  • Possessing the patent to the prototype and products with potential for commercialisation
  • In search of collaboration partners, investors and markets

Research teams and start-up enterprises from across the world are welcome to apply online between now and 31 October at www.TERA-Award.life. Participating projects will undergo technical and feasibility assessment as well as expert interviews. Results announcement and prize presentation are expected to take place in Jan 2023.